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Discussion: (2 comments)

  1. The tenor of this post suggests that Mr. Pethokoukis is very comfortable with, indeed, in favor of, Janet Yellin, and QE III forever that she appears to advocate. She is in favor of inflation, and will produce it. The economy hasn’t produced inflation even with unprecedented money creation, but Yellin will almost certainly double or triple down on QE III (to the benefit of Wall Street only) as the way to create inflation which she thinks will create jobs (Wall Street is actually salivating at the prospect of Yellin at the Fed helm). Not. Hers is indeed a very “creative” and “innovative” approach, an unprecedented approach, that will eventually create economic chaos as Washington becomes more profligate with easy money and national debt spirals completely out of control (but, of course, the feds will inflate the nation out of its debt–no wonder Ms. Yellin is such a fan of inflation–it worked so well for the Weimar Republic). Mr. Pethokoukis appears to be a hard core Keynesian with great confidence in central bankers, Wall Street, and the federal government, the usual suspects who gave us the financial meltdown, then Dodd-Frank, and now a stock market bubble sustained only by the Fed’s money creation, while the economy struggles with the worst “recovery” from recession in history. With “conservatives” like Mr. Pethokoukis, who needs Democrats, leftists, marxists, socialists, fascists, and Occupy Wall Street? Is everyone a hard core Keynesian now? If so, autocracy prevails (but that was obvious anyway), and economic collapse awaits.

  2. James, it’s simple. She’s a Yalie!

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