[Peace-discuss] more wingnut economics, courtesy of Mike Pence

[E. Wayne Johnson]

Seems to me that your complaint is that Pence is not Shilling for the 
Banksters.


On 11/17/2010 10:01 AM, Robert Naiman wrote:
> The "dual-mandate policy" that Pence is referring to is the legal
> requirement that the Fed, in addition to caring about inflation, also
> has to care about unemployment. Pence is saying that the Fed should
> not be required to care about unemployment, and should give up caring
> about it. Thus, the power of the Fed should be limited - limited from
> caring about unemployment.
>
> Welcome to Tea Party economics: the central bank should not be allowed
> to care about unemployment.
>
> Down, down with the Tea Party goldbugs. Long live the Keynesian Fed.
>
> Pence's "argument" reminds me of the Tom Tomorrow cartoon where he
> makes fun of right-wingers who argued that we should get rid of
> welfare, because it has failed, because there are still poor people.
> Right, he said. And we should get rid of the fire department, because
> there are still fires.
>
> ---------- Forwarded message ----------
> From: Mark Weisbrot
> Date: Tue, Nov 16, 2010 at 7:23 PM
> Subject: idiot statement of the week (month?)
>
>
> “The Fed’s dual-mandate policy has failed,” Pence said. “For a record
> 18th straight month, the nation’s unemployment rate is at or above 9.4
> percent. It’s time for the Fed to be solely focused on price stability
> and not the recently announced QE2, which will monetize our debt and
> trigger inflation.”
>
> http://thehill.com/business-a-lobbying/129563-corker-pence-say-its-time-to-limit-the-fed
>
>
>