Yellen hints at boosting inflation to create jobs (Obama's Federal Reserve chairwoman nominee)

The Daily Caller ^ | October 9, 2013 | Tim Cavanaugh, executive editor

[Paladin2]

Oh yeah, inflation is just what we need.

[Iron Munro]

Obama Administration Motto:

“You think it’s bad now? Wait until tomorrow.”

[vette6387]

Let’s first see if she can receive confirmation from the Senate.

[Olog-hai]

Can’t wait for those trillion-dollar paychecks.

[GeorgeTex]

The 1970’s were so wonderful the first time around.

[vette6387]

“Oh yeah, inflation is just what we need.”

This is how the Fed is going to get “paid back” all the money they’ve lent. Just devalue everything and voila!, you have everything “fixed.”

[skeeter]

I don't get it - QE the rule for years now, unemployment has just gotten worse.

Never mind, I do get it. But its still insane.

[tcrlaf]

“The socialist revolution can only succeed when the bourgeois (the Middle Class)are crushed between the twin grindstones of inflation and taxation

[Roccus]

“The Fed’s mandate is to serve all Americans,” Yellen said.

...and how would inflation serve those on fixed incomes and/or savers? Since I am both, perhaps I am no longer part of "all Americans."

[Uncle Miltie]

THE PHILLIPS CURVE IS DEAD!!!!

.....

In economics, the Phillips curve is a historical inverse relationship between the rate of unemployment and the rate of inflation in an economy. Stated simply, lower unemployment in an economy is correlated with a higher rate of inflation.

.....

In the 1970s, many countries experienced high levels of both inflation and unemployment also known as stagflation. Theories based on the Phillips curve suggested that this could not happen, and the curve came under a concerted attack from a group of economists headed by Milton Friedman. Friedman argued that the Phillips curve relationship was only a short-run phenomenon. He argued that in the long run, workers and employers will take inflation into account, resulting in employment contracts that increase pay at rates near anticipated inflation. Unemployment would then begin to rise back to its previous level, but now with higher inflation rates.

.....

Most economists no longer use the Phillips curve in its original form because it was shown to be too simplistic.[3]

http://en.wikipedia.org/wiki/Phillips_curve

[Aevery_Freeman]

In “The Wealth of Nations,” economist Adam Smith...

I would highly encourage anyone who wishes to understand economics to read this book. It is written in a time when there were a greater number of countries, particularly European, each having its own solution to economic policy. He also had the epitome of economic freedom, the American colonies, to study.

The man was an economic genius for all time.

Tough read, but worth it.

[SoFloFreeper]

She isn’t going to have any choice. The policies she and her moron hero and Bernanke have been pursuing GUARANTEE inflation.

This is a classic case of trying to get in front of an issue.

[Cold Heart]

Guy on Varney (FOX Business) said he expected deflation then inflation. Obama’s destruction of America as we knew it is on track.

[bert]

-——Yellen is expected to accelerate the devaluation of the dollar———

bert, bert, bert........... you have been so right for so long it is almost embarrassing

[Obama_Is_Sabotaging_America]

GOVERNMENT jobs, like 0bamacare is? The evil octopus is growing before our eyes.

[9YearLurker]

Stagflation 2.0 here we come!

[BfloGuy]

Yellen hints at boosting inflation to create jobs (Obama's Federal Reserve chairwoman nominee)

Hints? She's been screaming it. It's why she's been appointed. The beatings will continue till unemployment improves.

[2ndDivisionVet]

Here come the leisure suits.