How Ben Bernanke is Helping Rick Perry Win the White House

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.

Brad Plumer points today to a Dallas Fed report that, rather amusingly, demonstrates that a big reason Texas has done well during the recession is because of Fed policy. Roughly speaking, most of the Fed’s monetary policy works through bank channels, and since Texas banks were in better shape than most (thanks to Texas’s mild housing bubble), the Fed’s actions were especially effective there. That’s pretty interesting. But for sheer comedy gold, this chart is my favorite:

That “debased” dollar that tea partiers keep screaming about? Actually, it’s not really very debased in the first place. But it has weakened over the past couple of years, and it’s weakened especially against Texas’s major trading partners, primarily Mexico. And the Texas economy has benefited from that.

Maybe Rick Perry needs to send Ben Bernanke a a fruit basket or something?

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

THE END...

of our fiscal year is Thursday, June 30, and we have a much larger fundraising gap than we can easily manage with only days left to go.

Right now is no time to come up short: If you value the hard-hitting, democracy-protecting, justice-advancing journalism you get from Mother Jones, please help us keep charging as hard as we possibly can with a much-needed and much-appreciated donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate