Posted on 10/10/2013 9:03:48 PM PDT by Tailgunner Joe
Texas Sen. John Cornyn condemned President Barack Obama’s nomination of Janet Yellen as the head of the Federal Reserve. The Senator feels the reason why America finds its self in a fiscal predicament is due to stimulus “obsession”, and that the last thing the nation needs is someone who intends more “quantitative easing” because that will further harm the economy.
“Ms. Yellen subscribes to the liberal school of thought that the best way to handle to our nation’s fiscal challenges is to throw more money at them,” Cornyn wrote in a press release.
Not supporting Cornyn’s opposition of Yellen, is Congressman Al Green, who calls Yellen an “excellent and historic nominee” for the Chair.
“Not only are her qualifications evident, her confirmation will also make her the first woman to head our Federal Reserve,” Green said.
President Barack Obama called the nomination of Yellen the “most important economic decisions” he will make as President, explaining that he
chose Yellen because he finds that she has the qualities to hold inflation in check while also creating jobs.
“She’s served in leadership positions at the Fed for more than a decade. As Vice Chair for the past three years, she’s been exemplary and a driving force of policies to help boost our economic recovery.”
Obama said during a speech on Wednesday.
Following the President’s speech, Yellen said that while the economy has improved since the Great Recession, there is still progress to be made.
“Too many Americans still can’t find a job and worry how they’ll pay their bills and provide for their families, ” Yellen said. “The Federal Reserve can help if it does its job effectively. We can help ensure that everyone has the opportunity to work hard and build a better life.”
Yellen would be the first female Head of Federal Reserve, and would replace Ben Bernanke, who has been serving as Chairman of the Federal Reserve since 2006.
No what it proves is that he is stupid and is in the pockets of Wall street.
Because the Federal Reserve can then claim it has an asset in the form of an account receivable to try and fool the public that FedGov has somehow created value out of printing money. They also try and hide it from the non-thinking masses by using the euphemism of qunatitative easing. This is akin to putting a dagger through the heart of the US economy and calling it an introduction of a shaped metallic alloy through the pericardium. The democratic Obamabots just take another toke or sniff and say dem Gubmint dudes is smart.
1. Either they don't get it which is really bizarre if I get it with my background in economics or
2. They're complicit and think it's good that the super-rich get super-richer while everyone else gets screwed.
I'm not sure which choice is more disturbing.
Not ALL women. Your sentence needs a qualifier. <^..^>
I didn’t think I had to put the /s at the end. But I guess with all the stupid things politicians are saying today the /s must be displayed if there is any doubt at all.
No what it proves is that he is stupid and is in the pockets of Wall street.
Please help me out on this because you can't be saying Yellen is good and the market place is bad.
I think it is 2.
The cycle feeds on itself because the takers keep voting these crooks in so they can get all the freebies, while all the time the super rich get richer by playing the stock market which is manipulated artificially by the money printing.
The gap between rich and poor widens until the whole system breaks down under the weight of public debt. The top tier of government feel they will have enough money to fund their own security; the rest of the sheeple can consume each other for all they care.
Well of course. Until-
“when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security. Also the watering of the liberty is needed now and again.
I'll go one furthan than you. The global elite-rich are thinning their numbers. One can't help but wonder if tossing aside Khadafi and Sadam and trying for Assad was at least partially to thin the ranks of billionaires.
When it all comes tumbling down, the elite will have their islands, little countries and gated communities. They'll do fine. They'll sit on their safe perches, watching survival of the fittest unfold. And you know what? They'll probably still be profiting from it.
Please help me out on this because you can’t be saying Yellen is good and the market place is bad.
__________________
Markets divorced from reality and propped up for the elite are bad.
Yellens who continue to prop markets up with printed fiat currency are bad.
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