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St. Ralph Speaks! On Behalf of Creditors



St. Ralph Nader, America’s last honest man and only real leftist, speaks up on behalf of a true progressive cause:

Apparently, Ralph Nader is still talking, though in a way that certainly inspires a deep desire to go to Tumblr to find as many “shut up” gifs as one can find. Over the weekend, Nader published a nonsensical piece at the Huffington Post complaining that “humble savers” are getting screwed by the Federal Reserve’s unwillingness to raise the interest rate, which Nader seems to think is an elaborate plot to help the rich banks at the expense of working people.

 As Jordan Weissmann at Slate points out, the entire argument doesn’t make a lot of sense, as “relatively few households actually survive on interest income.” Most ordinary people would benefit a lot more from a robust economy than a higher interest rate on their savings account, but Nader seems to assume a nation of people living on investments rather than on paychecks, which really undermines his spokesman-for-the-working-class schtick.
But this weird piece is notable not just because of its Old Man Simpson half-baked economic crankery, but because he offers a solid dose of sexism to go with it: “Chairwoman Yellen, I think you should sit down with your Nobel Prize winning husband, economist George Akerlof, who is known to be consumer-sensitive,” Nader lectures. Yes, clearly interest rates are low because we live in a madcap world where women are not only allowed to run the Federal Reserve, but they are too willful to listen to the wise counsel of their husbands.

What I think Amanda is missing here is that raising interest rates and strangling the economy would increase the chances of a Republican victory in 2016, which will lead to the immediate passage of whatever statute Larry Lessig has declared to be the highest priority for all progressives in 2017. And, as a bonus, millionaire skinflints will have more money to contribute to critical progressive causes, like ensuring that working people don’t have access to libraries unless they meet your precise architectural specifications. Those contradictions won’t heighten themselves, people!

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