Stagflation Assured

Bernanke has been wrong about most everything, or is a liar. Whatever the truth, his assurance that there will be no stagflation is its sanction:

Federal Reserve Chairman Ben Bernanke told Congress Thursday that the nation isn't "anywhere near" the dangerous stagflation situation of the 1970s.

With the economy slowing and inflation rising, fears have grown that the country could be headed for the dreaded twin evils of stagnant growth and rising prices known as "stagflation."

Yes, he has signaled that he is planning another rate cut designed to fuel inflation.

You are in good hands, just make sure they hold euros and not dollars.

posted at 13:59:57 on 02/28/08 by clearpolitics - Category: Economics - [Permalink]

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