"The most costly of all follies is to believe passionately in the palpably not true. It is the chief occupation of mankind." - H. L. Mencken. "One of the common failings among honorable people is a failure to appreciate how thoroughly dishonorable some other people can be, and how dangerous it is to trust them." - Thomas Sowell. - Join search for truth learn to recognize it when you encounter it. See also enoughroomvideo.blogspot.com youtube.com/user/roybercaw [Editor: Roy Bercaw]
November 12, 2013
New Federal Reserve Chairman's Priorities Questioned
[From article]
There is no reason to doubt Yellen’s intellectual integrity; there is reason to wonder where she thinks the autonomous Fed now fits in the government. The Fed seems to be evolving into a central economic planner with a roving commission to right social wrongs such as unemployment. About this Yellen talks with a humane passion that speaks well of her but is more suited to a political official.
There is considerable congruence between Yellen’s economic theories and the policy preferences of the Democratic liberals who secured her nomination. They probably favor quantitative easing forever and consider themselves her constituents. Is she prepared to disappoint them?
http://www.jewishworldreview.com/cols/will110913.php3#.Un9b2N00i6Y
Jewish World Review
Can Yellen stand alone?
By George Will
November 9, 2013
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