Sewell Chan speculates on the planned Bernanke statement at Jackson Hole, Wyoming tomorrow.

Former Wyoming Senator Alan Simpson is co-chair of the debt cat food commission. After Simpson compared Social Security to a " milk cow with 310 million tits," Krugman rightly calls for him to be fired.

Krugman makes a prediction about the Jackson Hole pow-wow:

Something I wanted to put up before the Jackson Hole extravaganza: let’s watch and see how many Fed officials declare that expectations of future inflation are "well-anchored" (which is the favorite formulation). Because, you know, they’re not.