Janet Yellen of the Federal Reserve Is Basically a Liar


From my article on Bubblews:

Janet Yellen gave testimony today regarding her nomination to Fed chairman. She is a brilliant woman, but is a liar. The lie is with regards to easy money. Easy money floods the world with excess credit and pushes the prices of goods and services up.

Janet Yellen does not see asset bubbles. But the average shopper sees asset bubbles in the eggs she buys, in the gasoline she pumps, in the house she can't afford to by. Janet Yellen knows that the easy money that drove real estate to unsustainable levels in the housing bubble is now going to the rich. They are buying all the houses up to rent.

Wages in the US have to decline in order for the United States to be competitive in the world. Our wages are too high. Our nation is not as competitive as it should be. Yet the Fed, and Yellen as an insider of the Fed, pushes assets up by allowing the QE stimulus to go to the big banks. They use the stimulus to push up the prices of goods you buy at the store...
While some Republicans share my view, I do not support them at all, because they are liars as well. The Democrats are not much better, but at least they believe that social program cuts on a massive scale will hurt main street. The Republicans and the central bank, the Fed, do not care about main street, so any support from anyone for the middle class is greatly needed and appreciated.


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