John Tate of the Campaign for Liberty just sent out a press release concerning his group’s opposition to the reappointment of Ben Bernanke. I agree with him in spirit.
What concerns me, though, is that the left also opposes Bernanke’s reappointment. Given the nature of this term’s Democratic Party-dominated Senate, any alternative to Bernanke could be worse. I would like to see some specific recommendations for alternatives.
Writing in a Democratic Party outlet, the New York Times, leftist Paul Krugman expresses a similar concern, that it is not clear that Bernanke the devil is worse than some crustacean that Harry Reid might pull from the deep blue sea.
Indeed, Krugman’s deliberations concerning Bernanke emphasize that Bernanke has not inflated enough or “done all he can”. Unless the Democrats can come up with an alternative (e.g., a 21st century Paul Volcker), I’d prefer to stand pat despite what Krugman calls Bernanke’s “complacency”.