Romney in Boca Raton meets Quantitative Easing

OK just to bring it all together, in Boca Raton Mitt Romney demonstrated that he didn’t know the very latest news about quantitative easing.

Kevin Drum reads the transcript so we don’t have to

On May 17 2012

Romney: Yeah, it’s interesting… the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we’re issuing—which they’ve been doing, the Fed’s buying like three-quarters of the debt that America issues. He said, once that’s over, he said we’re going to have a failed Treasury auction, interest rates are going to have to go up.

He is discussing QEII and how interest rates will shoot up when it ends.  It ended in July 2011.

Mitt Romney does not keep up with the latest news what monetary policy has been for the preceding 10 months.

But he will bring us recovery not dependency.  Of course.  He undependable.