Monday, December 12, 2011

Why Gingrich Couldn’t Predict the Financial Crisis (and Paul Could)

Watch the video below! It shows one clip of Newt Gingrich explaining away his lack of economic prescience by saying very few people knew in advance that there would be such an intense housing bust. The clip is followed by one of Ron Paul on Morning Joe. As Joe Scarborough reads a 2003 quote from Ron Paul precisely predicting and diagnosing the housing bubble and bust, the words are so frighteningly accurate that Joe's co-anchor exclaims "Oh my God!"



So why couldn't Newt Gingrich predict the financial crisis with the same level of startling accuracy as Ron Paul?

Jack Hunter has the answer:

Because Gingrich has no solid or consistent set of principles. Said Mickey Edwards, former Republican Congressman from Oklahoma and Chairman of the American Conservative Union: “I’ve known Newt now for thirty years almost. But I wouldn’t be able to describe what his real principles are. I never felt that he had any sort of a real compass about what he believed except for the pursuit of power.”

Business Insider’s Michael Brendan Dougherty explains well Gingrich’s lack of conservative philosophy:

“Newt Gingrich always has ideas. He has 5-point plans for fixing everything. He’s constantly pitching these ‘solutions.’ Ever wonder why Newt Gingrich has so many ideas? It’s pretty simple. Ideas come to you easily when you have no principles to get in the way of your roaming untrained intellect.” [<--Money quote]


Many conservatives are now scrambling to explain or defend Gingrich’s fairly liberal record. They shouldn’t bother. Gingrich is politically schizophrenic. He’s been this way his entire career. Gingrich could have never predicted the financial crisis because he has no conservative or constitutional philosophy that guides his thinking—which remains as technocratic and micromanagerial as Mitt Romney or even President Obama.

Dear Republican Primary voter,

If you plan on voting for Newt Gingrich, please just stay home on primary day and vote for Barack Obama in the general election.

-Wesley Messamore




Wes Messamore,
Editor in Chief, THL
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