Tuesday, August 30, 2011

Tea Party waning: Glenn Beck's candidate defeated at the polls

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Last week on her MSNBC show, Rachel Maddow covered a story that is not being mentioned much in the media: the failure of the Tea Party in the polls as of late. One Tea Party Republican, Kim Simac, who was endorsed by Glenn Beck, was defeated. This will be covered by in the first clip below, and the second clip covers the make up, by Party affiliation and ideological orientation and social values, of the Tea Party where Maddow interviews .

First, via MSNBC, listen to Maddow discuss two Tea Party failures at the polls:

Then in this second clip, Maddow interviews Robert Putnam, the co-author of  American Grace: How Religion Divides and Unites Us. Again, via MSNBC:

It has taken a while, but people are starting to figure out that we don't want Tea Party representatives in government or for that matter any people associated with the reactionary propagandist, Glenn Beck. That would include, if Maddow's analysis continues to hold in the current election cycle, Michele Bachmann, Rick Santorum, Herman Cain and Governor Perry, all extremist, Tea Party candidates for president who have been guests on Beck's show on Fox.

hosted extremists on Fox

Of course, the next election may become a gift to whomever runs against a President in power during bad economic conditions. If recent results are any indication however, even a bad economy will not bring people to vote for candidates like Perry who aim, many believe, to tear down the wall of separation between church and state, exactly as the Tea Party and Glenn Beck want to see happen.

For a summary about Glenn Beck, see "Becoming Paul Revere"

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Unknown said...

Glenn Beck, in his book "Broke", cites Milton Friedman as his economic "idol".

In a Time Magazine interview in 1965, Milton Friedman said "we are all Keynesians now".

In an address to the American Economic Association in 1968, Milton Friedman argued that the trade-off between unemployment and inflation was a product of illusion. If high rates of inflation are maintained long enough, companies and workers will come to expect it and build this into their econonmic expectations.

Robert Solow said "Everything reminds Milton of the money supply. Well, everything reminds me of sex, but I keep it out of my papers."

As we know, money supply targeting did not prevent the recent Global Financial Crisis. Followers of Milton Friedman included Paul Volker, Alan Greenspan and Ben Bernanke, who thought they could use the "Central Bank" to control the economy.

Glenn Beck believes in market liberalism, where those non-public financial institutions should be allowed to be unregulated, and we know this lack of regulation created the Global Financial Crisis. We should trust these guardians of money to do what is right for us and create financial bubbles to burst. Is this a natural or good way to run our economy?

The Glenn Beck Review said...

To answer your question: yes and no. Yes, an unregulated economy is natural and naturally unstable (with regular cycles of hope and home crushing booms and busts). No, it is not a good way to run the economy unless you're a plutocrat who has the resources to win during booms and "go short" during busts periods to benefit during the entire cycle of booms and busts.

Glenn Beck and the tea party are no "all Keynesians now," and we are at risk of having one of them (Governor Perry) elected to the White House next year.