MSNBC's Matthews Blames Higher Gold Prices on Ailing Bush Economy
MSNBCâ€™s â€śHardballâ€ť host Chris
The former speechwriter for President Jimmy Carter criticized Bushâ€™s speech on MSNBCâ€™s January 28 post-speech coverage, arguing Bush should have addressed the economy more.
â€śI think a lot of people expected the president to at least engage for a couple of minutes tonight on whatâ€™s going on in the world economically and why we should worry and why we should have confidence that we do a couple things right,â€ť Matthews said.
And what did
No, Matthews pointed toward the price of gold.
â€śSo, why are people buying gold right now?â€ť
According to Benchmark Financial Network Chief Economist Jerry Bowyer, the pressures on the price of gold are not solely driven by a downturn in the American economy â€“ which
Bowyer also contributed changes in technology to gold prices exceeding $900 an ounce.
â€śSeveral years ago, Wall Street firms started offering easier ways to purchase gold than before,â€ť Bowyer said. â€śInstead of buying bullion and storing it in a safe deposit box, you can buy gold ETFs [Exchange Traded Funds] with the click of a mouse. How is that Bushâ€™s fault?â€ť
Bowyer said Matthews crossed some boundaries with his criticism of the Bush State of the Union address and suggested Matthewsâ€™s revelations about the gold market came 30 years too late.
â€śThis is taking Bush bashing and blaming
Matthewsâ€™s sudden desire for more economic rhetoric in the Bush speech is a bit curious. In October 2007, Matthews wasnâ€™t as interested in the U.S. economy when he co-moderated a GOP debate in Dearborn, Mich. that was advertised to be geared toward the economy. Out of his 49 questions, 28 were largely non-economic â€“ ranging from the bin Laden question to concerns about whether the candidates would support the GOP nominee.