http://www.economicpolicyjournal.com/2011/04/mitt-...

Mitt Romney recently made the following startling statement on Larry Kudlow's show on CNBC:

"I think Ben Bernanke is a student of monetary policy; he's doing as good a job as he thinks he can do."

Later, Kudlow asked a follow-up question and Romney replied:

"I'm not going to spend my time going after Ben Bernanke. I'm not going to spend my time focusing on the Federal Reserve."

Mitt Romney not only doesn't care that the Federal Reserve's money-printing is leading to skyrocketing prices. When you measure inflation the same way that it was measured in the 1970s, the inflation rate is near 10% (see: http://www.cnbc.com/id/42551209 ). We once again have "stagflation," as both unemployment and inflation are near 10%. Yet, Mitt Romney says that Bernanke is doing a good job and that he won't do anything to challenge Bernanke! Romney continues to position himself as the candidate who supports continuing the status quo (although the letter after the President's name would be changed).

Compare Romney's pro-inflation stance to that of a more principled Republican candidate, Ron Paul. Dr. Paul's signature issue throughout his entire decades-long career has been monetary policy. He has spent his whole career trying to stop the Federal Reserve's inflationary policies that cause business cycles and higher prices. Ron Paul has been a lone voice calling for a return to a sound monetary policy, a free market economy, and a free society.

Who would be the better nominee? Mitt Romney who supports Bernanke and supports basically the same failed Bush-Obama policies or Ron Paul who opposed all of those failed policies and supports a return to the founding principles of our nation? Should we nominate Ben Bernanke's favorite presidential candidate or should we nominate the man whom the Federal Reserve fears more than any other? Should we nominate the candidate who supports policies that have brought us 10% unemployment and 10% inflation or the candidate who supports policies that will bring us unprecedented prosperity and lower prices? Should we nominate the candidate who supports the Fed chairman who has been wrong about everything or the one who has been right about every important issue over the last few decades?