This page has been archived and commenting is disabled.
Schizofedia: According To Yellen Plunging Oil Is Both Good And Bad For The Economy
What a difference 2 months make...
Fed's Yellen (12/17): "The decline we've seen in oil prices is likely to be, on net, a positive."
Fed's Yellen (02/18): "Persistently low oil prices could dampen the overall expansion of economic activity."
December 17th (via CNN Money):
The dramatic plunge in oil prices might be spooking some investors, but Janet Yellen isn't worried at all. The Federal Reserve chief believes oil tumbling below $55 a barrel is like a tax cut for American consumers.
"From the standpoint of the U.S. and U.S. outlook, the decline we've seen in oil prices is likely to be, on net, a positive," said Yellen at a press conference on Wednesday.
"It's good for families, for households. It's putting more money in their pockets," she said.
...
"On balance, I would see these developments as a positive," she said.
February 18th (via FOMC Minutes):
"Several participants noted that there were signs of layoffs in the oil and gas industries, and that persistently low energy prices might prompt a larger retrenchment of employment in these industries.
In addition, it was observed that if capital investment in energy-producing industries slowed significantly, it could damp the overall expansion of economic activity for a period, especially if the slowing took place after most of the positive effects of lower energy prices on growth in household spending had occurred."
And then you have this:
BoC Cote (02/19): "Low oil prices are unequivocally negative... have broad impact on economy... negative effects happen quickly."
* * *
It appears he (and the latter Yellen) may be right?
* * *
And this is the woman we trust to run the world?
»
- 5191 reads
- Printer-friendly version
- Send to friend
- advertisements -
Beware the dwarf.
Nasty hobbitzes. Where is my precious?
One day soon Obama will be quoted... "It's al the Non Muslim's fault because I didn't see this coming."
"It was the best of times, it was the worst of times...."
Yup... Mr. Yellen writes fiction, alright.
We've fucked the savers through inflation, we're not gonna just let them off the hook
We needs see her birth certificate.
Keep fucking that chicken Mr. Yellen
Schrodinger would be delighted ! It appears that his principle made it all the way to the world of high finance...
Anyone that don't believe she is Bill Baggins and Tauriel's love child needs to see her triple wide hairy feet.
May an Ent wipe it's mossy ass with her!
my buddy's sister makes $88 an hour on the computer . She has been out of work for 10 months but last month her pay was $21219 just working on the computer for a few hours. why not try here www.globe-report.com
"Thee ain't nuthin uglier than an old white woman." Fred Sanford, Sanford and Son.
The Fed is independent. They are not political.
"We are not printing money." - Bernanke to 60 Minutes
"We are printing money." - Bernanke to Congress
... An this is the woman we trust to run the world ? Well, YES ! And you wanna know the worst ? She's the best we've got !
Sounds like she has her bases covered.
on one hand there's the other hand.
and on the other, 4 fingers and a thumb
pull this one
50 shades of good. And bad. Bad news are good news and good news are even gooder. Whatever you want, if you just buy stawks, stawks, stawks.
She is correct both times. A small and temporary dip is good overall. A deep and prolonged rout is unequivocally bad.
You're right. But this little troll hasn't the foggiest idea how to identify if this is going to be 'small and temp.', or 'deep and prolonged'. That's the problem. She's driving while looking in the rear view mirror, drunk. And the passengers in the car are clueless to the danger and are blindly trusting her to get them home safely. More crazy pills please. Fasten your seat belt ~ this could be a buppy ride.
Reduce everthing to binaries...as simple as only two choices seem, it is diabolical in its effect on the unthinkers forcing them to bounce back and forth while reality is robbing them blind
Moe Howard offers some advice, after suckling the teets of every global central bank.
Mayonaise prices are climbing Janet!
"I got nowhere else to go!"
~Mayonnaise
Schizofedia sounds about right TD: http://www.jewishgeneticdiseases.org/jewish-genetic-diseases/
No one will want to hang a grandma , when it all collapses. .....or do they think.
What do you expect?
These people never acknowledge anything until after it has happened, then the media gives them airtime to explain/lie about why no one could have seen it either.
Sounds like the same double talk you hear on msm all the time when they explain the daily sell off's in gold..
, gold is down because its a risk asset.
, gold is down because investors are fleeing safe haven.
This is the stuff Noble prizes are made of!
Cluless duplicitous fuck.
We really need to ease the qualifications standards for positions of power and decision-making in DC so that more underprivileged geniuses can be included in the processes
Honestly Mr. Knukles, this time I cannot determine whether sarc or not. The latter would be exciting; and refreshing. Thank you.
But but but everything is awesome right?
Who needs a Fed anymore if you're pumping out ten million plus barrels of WTI a day?
We already know the Brent is worthless currency trading masquerading as actual oil.
With two million and growing surplus WTI produced a day just go long refineries...and not just the oil type either.
Let them print until they financially obliterate Chicago "and the disturbance in the Force will be solved.". Really don't see the big deal here.
Its not like Wall Street isn't getting killed by cheap euro financed debt here.
Bwhahahahaha. " Moral Hazard." More like Dukes of Hazard now as Wall Street drives that Dodge airborne again "with the ever miraculous landing."
JP the Actual Banker is laughing out loud right now. "We have friends in Washington who are here to help us!"
Really?
So now we know for sure...they will keep oil low and use it as an excuse for QE4.
We've always been at war with Eastasia.
Those ol' Salem sytlee Witch Trials are looking like the thing to emulate.
IF she sinks we apologize to her next of kin and if she swims we burn her at the stake as fast as wood can be gathered..
Texas Turmoil, priceless Tyler.
"Ceteris Paribus" the two most dangerous (and stupid) words in the world...
It is a woman's perogative to change her mind. Of course, I have no proof, and hope I never do, that she is a woman.
Another "Empty" kitchen. Sad really.
Drastically lower oil prices is deflation, right before your eyes,
and once again, as always, the Fed never saw it coming.
But, they still claim to know exactly how to deal with it.
Agreed, Yellen apparently can't make up her mind about whether low oil/gas prices are good, and ends up exposing herself for the idiot she is.
However, as a regular purchaser (and user) of these products, I can report that low prices are unequivocally good. Nothing better than pulling the Escalade up to the pump and guzzling petrol at the rate of $2/gallon.
Now, the calculus for many Zero Hedgers is a bit different, and they'd be best served by pumps that charge $4/gallon. It's "logic" only a committed Zero Hedger can understand (let alone explain), but Exxon Mobil and the like should make every effort to accommodate these nincompoops. :-)
She has a spinner from a board game, and has changed the values to alternating "lie," "don't lie."
Fun, until the someone loses a head.
The banksters need to repay us.
"Guillotine the Fed. Audit the heads."
The setup for the reason why they cant raise rates. LOL What a twat
If I spend $2 on gas today and $3 on everything else and then spend $1 on gas tomorrow and $4 on everthing else did I improve my economy by 20%? If that gas was from Arabia, maybe it improved a litle so long as I didn't spend more thanthat amount on something from China.
In the Bakken the bloodbath is really picking up steam now, down to 126 rigs from something like 187 in October. Just getting started. Some are estimating ND will be down to 50 rigs by June. McKenzie county is holding the most rigs, it was dead center of the bullseye of proven reserves so makes sense.
The percussion waves should be felt any minute and it's gonna be effing huge.