who should Obama appoint for Fed Chair

[srican69]

3 votes, 1 pass | Time left: Unlimited
	Paul Krugman
	3 (100%)
	Anyone else - and Obama is a Corporatist Sellout.
	0 (0%)
	1 DU member did not wish to select any of the options provided.
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[AllINeedIsCoffee]

1. Janet Yellen. nt

[FreeJoe]

13. +1

[railsback]

2. Elliott Spitzer

[geek tragedy]

3. Tim Geithner!

in case that wasn't clear.

[arely staircase]

4. snowden nt

[octoberlib]

5. Janet Yellen, although I love Paul Krugman too. nt

[roamer65]

6. Anyone but Larry Summers.

[srican69]

7. seriously? how about larry kudlow then?

[Nuclear Unicorn]

8. Me!

I need a new chair.

[srican69]

9. if I got the job...I will purposely drive up inflation to

Transfer wealth from the rich(savers) to the poor(borrowers)

[Nuclear Unicorn]

12. If you drive up inflation only the rich can absorb the loss of real wealth.

Devalue money by 10% and the family with $10k in the bank only has $9k in the bank while the billionaire still has $900 million. it destroys savings and undermines capital for things such as loans and investments; which double-whammies the working class that wants to buy big-ticket items or are hoping for that new factory to open with jobs making big-ticket items.

[srican69]

14. its more complex than that ...

most people will have mortgages with fixed payments .. those payments will go down in real terms...secondly although there will be lag .. wages will have to rise roughly to keep up with inflation so in real terms that is a wash ... .. ( Lets assume that SS checks are adjusted for inflation)

secondly - the increase in receipts (in nominal dollars) for the government will make it easier for it to service its debt ...( Remember Government is the biggest borrower)

the people who suffer are retirees who depend on savings , people saving up for college etc ...( Savers in general) .. The biggest losers will be bond holders ( I know that includes pension funds) ....

but overall it helps borrowers ( and hurts savers) .. since the poor or less wealthy will have a greater proportion of liabilities on their balance sheets - the rich will be taking a much more painful blow.


No wonder you have a legion of bond vigilantes ready to scream 'inflation' at the drop of hat ... they are mostly at the service of the very very rich.

[Egalitarian Thug]

10. I doubt Krugman would take it, but there are dozens of equally qualified candidates,

with a track record of actually being right, not one of which will ever be mentioned by anyone that matters in DC.

[hobbit709]

11. Anybody but a bankster.