The other day Nancy Pelosi (Speaker of the House) opined that Obamacare would be good for the nation because artists and writers would not have to have day jobs to earn healthcare and could instead focus their time on their creative pursuits. Oh? What about the rest of us dumb slobs who finance that? No time for us to be creative.
Now we have the new Obama administration candidate for the vice-chair of the Fed, a Ms Janet Yellin. What is controverial about her?
Well, unlike most economists who feel that too much money chasing too few goods leads to inflation, Ms. Yellin believes "inflation is caused by too many people working and too much economic prosperity."
Which means as long as Mr. Obama is in office we are safe from inflation.
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