Governor Rick Perry may have turned out to be a disappointment as a candidate, but let's give him credit for this: he warned us of the possibility that the Federal Reserve would start printing up a lot of money shortly before the election. "If this guy prints more money between now and the election, I don't know what y'all would do to him in Iowa, but we - we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous - or treasonous in my opinion.... If they print more money between now and this election, I would suggest [that the Federal Reserve is trying to help President Obama]." These words were regarded as over the top at the time, but they turned out to be prescient. The Federal Reserve announced on Sept. 13 that it would purchase $40 billion worth of mortgage securities per month until unemployment noticeably improves. John Authers of the Financial Times notes....
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