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Yellen Vs. Geithner - Two Views

Bruce Krasting's picture


Janet Yellen, Bernanke's soul mate (and mouthpiece) spoke last week. She argued that the Federal Reserve's Zero Interest Rate Policy (ZIRP) should be maintained for another three years. Tim Geither, Obama's side kick, had a completely different take on the economy on the Sunday talk shows.

And all this time I though it was only stockbrokers who talked their book....

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Mon, 04/16/2012 - 12:06 | 2348780 Amish Hacker
Amish Hacker's picture

Timmy, Timmy, Timmy. Things aren't looking great just because everything's getting worse at a slightly slower rate. OK, the trade deficit went down, from $52.5 B in January to $46B in February, but last year's deficit with China was a record $295 B, and the last actual US trade surplus was in 1975.  http://www.census.gov/indicator/www/ustrade.html

After hearing bullshit like this, I finally understand what "shovel-ready" means.

Mon, 04/16/2012 - 11:30 | 2348648 Nostradamus
Nostradamus's picture

Yellen is the one who complained that the FED couldn't implement a policy of negative interest rates.

Mon, 04/16/2012 - 11:13 | 2348576 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Geithner talking is visual anal vapor.

Mon, 04/16/2012 - 11:09 | 2348563 sangell
sangell's picture

Like you say talking their book. Geithner role is to get the president re-elected and what he says on Meet the Press is going to be heard in political circles and the mass media far more loudly than what Yellen says about ZIRP and capacity utilization in a less widely disseminated speech.

Mon, 04/16/2012 - 11:04 | 2348544 Frastric
Frastric's picture

How to tell Geithner is lying; his brow goes all Romulan-like.

Mon, 04/16/2012 - 10:56 | 2348506 apberusdisvet
apberusdisvet's picture

ZIRP forever!  No one should make money off savings (what savings?). Make everyone work until they drop.  10% inflation for 5 years straight will wipe out the middle class.  The average SS check may buy a week's worth of groceries.


Starvation or Obamacare death panels; take your pick.

Social security and Medicare unsustainable; we need the money for the coming "humanitarian" wars.

The sheeple may arise; let's destroy all freedoms by eliminating the Bill of Rights.  We will soon have 2 hollow points for every man, woman and child.  A TSA warden on every corner.

Welcome to the 4th Reich.


Mon, 04/16/2012 - 11:10 | 2348567 irie1029
irie1029's picture

About 10 years ago I woudl have said you were full of crap.  Seriously, that is what is coming if we keep electing the same old crap.  Ron Paul 2012

Mon, 04/16/2012 - 10:35 | 2348451 BeetleBailey
BeetleBailey's picture

Yellen and Geithner: Lie more than a Persian rug factory. Both ought to be strung up and hung.

Mon, 04/16/2012 - 10:08 | 2348375 Ayn Rand
Ayn Rand's picture

Zero rates will stay until the Fed has killed off the middle class.

Mon, 04/16/2012 - 10:09 | 2348374 Ayn Rand
Ayn Rand's picture

Zero rates will stay until the Fed has killed off the middle class.

Mon, 04/16/2012 - 09:22 | 2348246 Orly
Orly's picture

The GBPJPY pair has just closed a Gartley sell-signal on the Weekly chart.  It is possible that we may see brief consolidation at this level, then a switch-back higher as the Japanese bond market gets more brittle and the US ten-year settles to around 2.5.

First upside target is 143.7.  The second, outside target for the pair is 157.8.

Happy trading!


Mon, 04/16/2012 - 10:35 | 2348450 BeetleBailey
BeetleBailey's picture

That's a pretty fucked up Gartley pattern! Looks look Fukishima last April....end of that month.


Mon, 04/16/2012 - 09:15 | 2348231 alexwest
alexwest's picture

well, we all know Bruce IT DOESNT #UCKING MATTER who said what..

zirp will be for at least for 3-4 years more.. each year US debt is getting closer and closer to 20 trln $.. i guess it will be tipping point.

from that moment , and each 1% increase in rates will require +200 bln of additional borowing/taxes to just serve the debt..

so game will be over.

we are not Japan.. dont have savings, dont have social cohesion, dont have positive balance of payments (Japan recently) , dont nothing to sell exlc. paper


Mon, 04/16/2012 - 09:08 | 2348224 Hedgetard55
Hedgetard55's picture

Screw grandma and grandpa and anyone with any sense to save for another three years, and distort markets even further. Great idea, Janet.

Mon, 04/16/2012 - 09:03 | 2348208 Rastadamus
Rastadamus's picture

When I achieved a 1.2 GPA in college I dropped out. I should have went into government.

Tue, 04/17/2012 - 11:19 | 2351518 I Am Not a Copp...
I Am Not a Copper Top's picture

Obviously a 1.2.  Should have gone.

Mon, 04/16/2012 - 11:34 | 2348672 Likstane
Likstane's picture

When I achieved a 1.2 GPA in college, I knew the tutoring was finally paying dividends.

Mon, 04/16/2012 - 09:04 | 2348207 mayhem_korner
mayhem_korner's picture



Bruce, in consideration of some really ugly imagery you've planted in my head, I respectfully ask that you refer to Yellen as Ben's 'spokesperson' rather than 'mouthpiece.'  Many thx.

Mon, 04/16/2012 - 08:31 | 2348145 LawsofPhysics
LawsofPhysics's picture

The emperor has been naked for quite some time.  I just didn't think he would walk around naked for this long.

I only worry about one thing moving forward- supply lines.  Atlas is indeed shrugging, but then again some people  might argue this has been happening for 30+ years.

Same as it ever was?

Mon, 04/16/2012 - 08:43 | 2348158 Urban Roman
Urban Roman's picture

Moreso than it ever was.

Mon, 04/16/2012 - 08:26 | 2348136 CulturalEngineer
CulturalEngineer's picture


Truth is beautiful, without doubt; but so are lies.

- Ralph Waldo Emerson

Politics, n. Strife of interests masquerading as a contest of principles.

- Ambrose Bierce


Politics is the art of preventing people from taking part in affairs which properly concern them.

- Paul Valery


Mon, 04/16/2012 - 08:08 | 2348117 Vince Clortho
Vince Clortho's picture

Geithner is still around?

Mon, 04/16/2012 - 10:47 | 2348478 battle axe
battle axe's picture

Tiny Tim on "meet the press" this weekend, They had a booster chair for him and he looked almost grown up. 

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