Barack Obama Is Jimmy Carter

Let's see now. An allied Middle Eastern country handed over to Muslim fundamentalists - check. Silver at $50 per ounce - check. And now, stagflation. Checkmate. All that's missing is the killer rabbit.

“Look, what is stagflation?” Kudlow said. “It means the inflation rate is rising much faster than the economic growth rate. And a lot of people conventional economists say that can’t be. Strong growth causes inflation, not weak growth. But, in the 1970s, we had weak growth, high unemployment, and double-digit inflation. Why is this? Why are the conventional thinkers wrong? Because inflation is not caused by too many people working or growth that’s too strong – inflation is a monetary problem, when the Fed prints too much money, money that people don’t want, when they want bad money. You want to see some bad money? There is the U.S. dollar index going back about a year. It is down 17 percent. The dollar has actually been falling for quite some time, but I’m just saying the Fed is creating more money than anybody knows what to do with. And that excess money creation is working through the falling dollar, as illustrated by soaring gold and soaring commodities and soaring oil and soaring silver. All that is starting to work itself into the prices of goods and services and, guess what – bad money, a bad dollar, the Bernanke buck, as I’m taking of calling it, is causing higher inflation even while the economy is slowing down. And it’s a nasty witch’s brew. It troubles me despite the good corporate profits.”

Read more: http://dailycaller.com/2011/04/29/stagflation-is-here-declares-cnbcs-larry-kudlow/#ixzz1L1KP29E6