A Looming Test, Possibly

Does the GOP establishment still have clout? If Republican primary voters (especially in South Carolina and Florida, where they matter) prefer Rick Perry's blustering red-meat, take no prisoners conservativism to Mitt Romney's more measured approach, we will find out. Last month, the Texas governor said of the chairman of the Federal Reserve

If this guy prints more money between now and the election, I dunno what y'all would do to him in Iowa but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treacherous – or treasonous in my opinion."

Yes, we know what they do to undesirables in Texas. And that's even if they haven't committed treason (or even murder). Mitt Romney, asked by Wolf Blitzer if he disagrees with anything Rick Perry said about the Federal Reserve chairman during the GOP presidential debate, replied (part 3 of debate transcript, here)

Well, my own view is that, quite simply, that the Federal Reserve has a responsibility to preserve the value of our currency, to have a strong American currency, such that investors and people who are thinking about bringing enterprises to this country have confidence in the future of America and in our currency. People will not invest in this country and create jobs in this country for the American people if they don’t have belief in our currency.

Of course we should see what the Fed is doing. There should be some oversight to make sure that it’s — it’s acting properly.

But at the same time, we recognize that we need to have a Fed. Why — why do I say that? Because if we don’t have a Fed, who’s going to run the currency? Congress? I’m not in favor of that. I’d rather have an agency that is being overseen rather than have the United States Congress try and manage our currency.

As can be seen, Mitt Romney didn't say anything; mission accomplished. Though no progressive or moderate he, the former Massachusetts governor, unlike his major rival, has evinced no interest in blowing up the economy for..... what- spite? to prove a point? just because?

Karl Rove and the rest of the old-line Repub establishment knows that the candidate its primary voters will choose will be someone extremely conservative- or someone reckless, a crony capitalist (and theocrat or faux theocrat) willing to damage the nation's economy for some unknown purpose or whim (and apparently a theocrat or faux theocrat, which makes the party's corporate establishment uncomfortable). If it looks good for Rick (or Michele, which it won't) and bad for Mitt, it will be surely tempted to step in and effect selection of the candidate with a reasonable chance of victory.

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