[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.

[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.

[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.

[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.

[puppypusher]

I’m working full time and struggling like hell and this bimbo wants to create more inflation.All I can say is I hope the republicans can her nomination to lead the Federal Reserve Board.

If the republicans were smart they would disband the FED.It has done nothing but suck the life out of the working man for the last 40 plus years.I’ve had it with the FED.

[Georgia Girl 2]

Yeh get those interest rates up high enough and $5 for a can of soup and everything will be fantabulous.

[Signalman]

Yellen needs to read this book, which I'm currently reading:



The author clearly shows that increasing the money supply the way the Fed is doing now, in order to inflate the currency, has never worked before in history and has always been counterproductive.

[Paladin2]

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

Really?

[PaleoBob]

But will she “focus like a laser” on jobs?

[mojito]

Weimar, here we come!!!

[Don Corleone]

None of those people could run a free lunch stand.