1. Is there really a "full court press"? What constitutes a "full court press"?
2. What's the standard of evidence here: "preponderance of the evidence" or "proof beyond a reasonable doubt"? Isn't "preponderance of the evidence" the correct standard in any kind of election or appointment situation? On Mon, Jul 29, 2013 at 2:45 PM, Marv Gandall <[email protected]> wrote: > > On 2013-07-29, at 12:49 PM, Robert Naiman wrote: > > > On the same theme: > > > > Wall Street Overwhelmingly Favors Yellen Over Summers For Fed Chair: > CNBC Poll > > > http://www.huffingtonpost.com/2013/07/26/wall-street-yellen-summers-fed-poll_n_3659823.html > > So I'll return to the question I posed a couple of days ago: Is there > really enough of a difference between Yellen and Summers to justify the > liberals' full court press on this issue? Yellen can't be of equal comfort > to both Wall Street and liberal Democrats who want to curb its influence. > Someone is experiencing a serious bout of false consciousness here. Until > persuaded otherwise, I'll stick to my view that the antagonism directed at > Summers is mostly personal all round or based on unsupported speculation > that he is more disposed to tighten than Yellen. There's no indication that > either Yellen or Summers or another appointee will represent any meaningful > departure from the Bernanke Fed. Its policy direction will continue to be > decided, as Harold MacMillan once explained in another context, by "events, > dear boy, events." > > > > > On Mon, Jul 29, 2013 at 11:12 AM, Marv Gandall <[email protected]> > wrote: > > (The WSJ ran the story below on its front page, which is stark > contradiction to its editorial line and that of conservative Republicans > who are strongly opposed to the Fed's policy of quantitative easing. It > vindicates the Keynesians who suggested monetary easing would not lead to > inflation in a slack economy with high unemployment, and is a repudiation > of the nostrums peddled by the monetarist followers of Milton Friedman. The > irony is that the Journal's most loyal Wall Street readers, whatever their > ideological predilections, have benefited most from the Fed's robust asset > purchases since the near-collapse of the financial system in 2008, and any > hint of a Fed retreat has caused their stock and bond portfolios to > plummet. The Journal article lends support to those economists and > investors who have been warning against any tapering off of Fed bond > purchases, especially those who see monetary policy as a more palatable > alternative to fiscal spending. It will also lend supp! > ort, intentionally or otherwise, to Janet Yellen's candidacy for the Fed > chair. If the Obama administration is looking for right-wing cover to > appoint Yellen ahead of Larry Summers, which its liberal base has been > demanding, the WSJ has just provided it.) > > > > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Robert Naiman Policy Director Just Foreign Policy www.justforeignpolicy.org [email protected]
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