6 dubious Yellenisms from the Fed chair’s testimony
This article from MarketWatch breaking down some of the main themes of Yellen’s testimony to the Joint Economic Committee yesterday. The Committee brought up some of the concerns we have discuss on a regular basis, being the continuing wealth gap, the Fed’s inflation goal, extremely low labor force participation, and asset bubbles.
great statement………..Mark………..
As you can see I agree with you.
LIKE minds………think alike………………………..uncle wally 1988
besides, we were born on the same day, what else, could be expected.
birds of a feather
collide in nasty weather
birds without feather
taste better
~signed: no wisdom here, esq.
http://4.bp.blogspot.com/-BjQ8FLeOiaY/T17zCjXaNFI/AAAAAAAAAdg/t0AtqrxZ85M/s320/IMG_4149.JPG
Eagles and OWLS………..FLY SOLO………………
December 1st?
YES BIG OWL…………….
Good, another “Mark” that has his crap together – if I do say so myself!…:0….HA!
That, Mark, is a very interesting point.
Have a great Thursday, by the way,
Big Al
Well said.
Evaluation of the Fed policies today is very much like evaluation of policies which gave rise to the housing bubble. At the height of the bubble, people were easily fooled into believing that the policies were working.
They failed to consider what the downstream consequences of the policies would be. The same mistake is being made today. The problem is that we have since climbed up to an even higher cliff.
This time, the crisis will be in the sovereign debt itself. The bubble has worked itself up to the top of the food chain. When this one pops, there is no easy rescue.
Gotta ask you Eric, how could any sane person have possibly believed that the housing bubble would continue. It made absolutely no sense what so ever!
You’re right, Al — it didn’t make any sense at the time. But go back and see what Fed officials were saying at the time about sub-prime and the rest of it.
Now ask yourself why they don’t recognize what is happening in the sovereign debt markets. Several years from now, it is going to be much the same — people will say ‘how was it that people were willing to allow the government of the US borrow money at 2.5% — what kind of insanity was that?”
Never mind the yields in places like Greece and Italy and Spain.
But here we are.
So true Eric.
Maybe they are not as insightful as we are!
YOU GUYS…are soooo right and spot on….the DECEPTION is absolutely mind-boggling!
Real estate imo has more normalcy to its trends, cheap money, Nija mortgages boom bust in play.
The S&P completely different as the primary dealers can buy just the key S&P stocks and prop up the sector at key levels then the brainless algo’s follow the momentum higher, repeat-rince
Yellen without a clue.
I read somewhere……….she changed her NAME(and it not a maiden name change)….. maybe, that way she can change it back after she leaves office……and no one will be able to find her.
It is funny………..WE HAVE A PRESIDENT, AND FED CHAIR,.WHO HAVE CHANGED THEIR NAMES. Something quite strange with this, I think……………O^OTB
The..JEC..FOMC…..Why does she bother , why did Bernanke bother…they say roughly the same thing each time….They are a pair of bloody parrots…Why do people bother listening to them !!!.
Bang on!!! irsihtony
As a market trader for 40+ years those within the industry have let these clowns create a circus, WHY does anyone give these people any time, why do we except CPI is made up of nothing real that measures inflation, why did we allow weekly money supply data to be removed……
How could we have allowed the 157 FASB ruling from the Federal Accounting STANDARDS Board to allow the US banks to mark to their values of toxic mortgage debt to their values vs mark to market…..Arthur Anderson accounting lives on!
JJ…..CPI is fraud & lies…If these people had to do a weekly shop for a family then they would know its lies…..But then they already know that…Here in the UK we have the LIERS (govt) telling the people the economy is improving & inflation is low..COMPULISIVE LIEING B%&£$%&S.
Ain’t that the truth, “Original”!
IRISH……..the sheeple, does not know who the FED IS, or what they DO……
The sheeple are BRAIN DEAD…………………………..
IT is the same old BS….WE have been talking about for forever…………,
the FED. has been here longer than anyone………1913….
Anybody out there 101 yr. old……and can still think.
WE can thank our grandfathers for being asleep at the switch………………………………….ootb.
Brain dead and don’t even know it Jerry! (That, by the way, is really sad.)
Q: if they are brain dead how would or could they know it?
irishtony2
Here’s a fun one that proves it!
Because the have to Mr. Irish. Gotta look at everything out there in these crazy markets!
Response to GH:
Thanks that was funny!
GREAT ONE…..IRISH!!
Haven’t heard that about Mrs Yellen, Jerry. Got a source?
US debt, no problem….just default, they’ve done it before in many different ways
http://www.ritholtz.com/blog/2013/10/the-myth-that-u-s-has-never-defaulted-on-its-debt/
Since, the Debt was created by a mindless nation, and with bad money skills……..
A bankruptcy is in ORDER…, it is biblical to have a JUBILEE, if you learn from your mistakes., only Bankers want you to believe it is bad thing……………………………OOTB
I personally don’t think that they have any choice at all “Original”!
BIG AL and JJ,
That is what we have been saying for “many moons”…it is such a CON- job…..
Yep Marc!
Any thoughts on this chart
http://bullmarketthinking.com/wp-content/uploads/2013/03/dow-ratio-chart-21.jpg
That’s a pretty picture…..sarc off
Yes a very possible back test to the 20 area is possible before heading lower again.
The biggest issue I have with those kinds of charts is todays financial system is completely different from the past shown on the chart…
In 2008 if anyone would have told me emergency low interest rates would still be in place 6 years later I’d say your nuts!
You will get a comment on this today from Doc.
When you pay people who are not working and support women who have children out of wedlock you are destroying the family unit.
ditto…………..DT
Gold manipulation topic on BNN in 20 minutes.
the sheeple will not get it…….first, they will have to look the word manipulation up, and by that time the show will be over, with no further discussion….
Haha… Agreed. I am giving a heads up to the converted and nothing will change from this program. Maybe when it makes the cover of FT or WSJ.
thanks……I do appreciate the alert…………..appreciate……………ootb
Mr Butler , has a good piece up today…over at Goldseek…Re Silver.
The Butler link.
IRISH………put goldseek………..he is trying to throw everyone off , as to where he is hiding his stash…………………..
Nothing has changed, ………….WE STILL HAVE THE MONEY PRINTING FED, which knows nothing else, only the NAMES change. Yellen, has no answer, because she is one of the problems….she has no solution, Just GRANDMA, BEHIND THE WHEEL.
JERRY…..I said Goldseek instead of Silverseek……just trying to be posh…OK
Trying to be posh? Heck Mr. Irish, you are posh!
The above BNN gold market manipulation clip was good. I was happiest to see it was done by the same group that exposed Libor manipulation and the article has not been published yet.
This and the Butler article are baby steps but a step none the less. Maybe another 25 years and Butler will win.
Dan…..Another 25 years don’t say that , another 25y & i’l be brown bread…I wont get to spend my vast wealth from my silver insurance…haha…..One must feel sorry for all these billionaire bankers on their death beds , who have spent a life time stealing from the rich & poor….& finally realise they can not take it with them . & even if they could , even they know paper money burns….Shame..Shame..Shame.
I feel your pain…. I wish it was 25 minutes not years but it seems to be in the hands of a government agency and I have little faith that there will be a timely exposure of the banksters.
I hope the relatives of these dying banksters would treat their inheritance money as blood money and not a god given gift but a conscience is needed for that.
Millionaire’s misprint at his funeral service Tony, a line of a hymn which says – ‘land my safe on Canaan’s side…whoops for my read ME ….!
Andrew…..I like it ….haha…….but how can you be sure it WAS a misprint , after all some of these people think they are gods.
Very good point Irish.
Yes Reverend, a very good point by Mr. Irish!
JP Morgan holds 76% of the entire short position in silver worldwide (anything over 5% is illegal but the SEC continues to look the other way). Nothing else matters. The price of gold and silver aren’t going to be allowed to move up or down to any meaningful extent unless JPM wants it and allows it. The Ukraine, China, the Euro, US money printing, unemployment, inflation, deflation, supply, demand, etc., mean absolutely nothing. It’s all just a bunch of meaningless noise; until JPM decides to let the price of gold and silver move nothing else is going to make the slightest bit of difference. The truly bizarre thing is that all of these people who are supposedly ‘in the know’ never make any reference to JPM’s total illegal stranglehold on the metals markets. Maybe they’re all scared of having JPM’s lawyers (or hit men) come after them and their families?
Did folk see M.Keiser yesterday roasting Business Sec Vince Cable and Lazards over paying them £1.5 m to advise the government on a flotation price for Royal Mail shares. Having under-estimated Royal Mail’s true worth Lazards they neatly made a quick extra £8.5 m before bailing out.
Vince Cable needs to be hoist by his own…… cable.
Hello Andrew, yes I did, it was excellent! Keiser is one of the best, maybe the best, and to boot he’s always highly entertaining.
Andrew….I worked for “FRESHFIELDS” , many years ago…speaking to one of the senior partners one day about banks , Lazards came into the conversation…He looked me straight in the eye & said….Lazards & Rothchild run the city , the Govt, & the Monarcy……Now that says it all.
Seems to, Mr. Irish
Glug!!
Are you referring to Guinness!
At this rate gallons of the stuff!!!
The Fed is like an occupying army telling the occupied people that they are there to help them all the while slowly killing the country via the issuance of debt to both the occupied government and their citizens (who by the way are also collateral for the national debt) a debt that comes with an interest rate and that mathematically can never be repaid just rolled over indefinitely…..absolutely brilliant!