It’s pretty much impossible not to like Herman Cain. He is the antithesis of a standard politician. Straight talker. Gets to the point. Speaks in specifics rather than generalities. Seems like the kind of guy you’d sit on your front porch having a beer with and listening to the ballgame. Yet he’s the CEO of a major corporation and is being taken more seriously each day as a legit contender for the GOP nomination.
Clearly, this has become the anybody-but-Romney campaign. Bachmann and Perry have had their moments in the sun and fallen back. Ron Paul wins straw poll after straw poll, yet never garners serious consideration. Heck, even Trump got his fifteen minutes. Now it is Cain who has benefited from a favorable Florida poll and some good debate performances to take over the headlines. This brings up the obligatory “is Herman Cain the true conservative the GOP has been searching for?” questions. The answer in a word? No.
Everyone knows by now that Cain was a former Kansas City Fed Chairman. He supported TARP and he is against an audit of the Fed. That’s enough for me right there to reject him. The Federal Reserve has played the CENTRAL role in the destruction of our monetary system since its creation in 1913. Their policies have enabled our boom-bust cycles. Clearly they have failed in their mandate to achieve full employment. They have certainly provided endless liquidity to the credit markets for the other half of their dual mandate.
Credit market liquidity has been an abject failure. Everything the Fed does is geared toward rewarding the big banks, including foreign central banks. Crony bailout-ism if you will. They have essentially ignored small business. Is it any wonder than why we still have 9% unemployment and a stalled economy? Rather than getting into a diatribe exposing the Fed, I merely wish to highlight the extreme need for America as a whole to see the pivotal role the Fed has played in the run-up to our current dilemma. An audit is absolutely crucial and Herman Cain doesn’t want one because he is one of them.