Shane, this is really important breaking news. Gov. Huckabee is moving the dial here in a striking new development: he’s one of the first candidates to connect the Fed’s monetary policy to the economic suffering the average middle-class voter has experienced over the last seven years of Obamanomics—and really Bushanomics too, which led to the economic crisis of 2008.
Huckabee hit the nail on the head when he said, “The bottom 90 percent in the past 40 years have had stagnant wages. In the 25 years before that, 90 percent saw an increase.”
Now he has connected the middle class’s declining standard of living to the Fed’s monetary policies that not only feed rising prices in key middle class budget items but, even more importantly, starve the real economy of money without which we cannot have economic growth and rising middle-class incomes. Instead, the Wall Street-Washington complex’s zero interest rate policies are leading investment banks to borrow money from Washington at almost no interest and then lend it back to the government at a higher price for a tax-payer guaranteed profit. This isn’t banking, it isn’t investment, it isn’t capitalism, and it isn’t working for the middle class.
Kudos to Huckabee for being the first to notice.
Frank Cannon is the president of American Principles in Action.