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Did Janet Yellen Just Ban A Reporter From The Fed Press Conference For Asking "Difficult" Questions
Ripped from the pages of "House Of Cards," it appears that the asking of difficult questions of she-that-shall-be-obeyed is entirely unacceptable to Janet Yellen and her Fed.
In March - the last Q&A session post-FOMC statement, Dow Jones reporter Pedro da Costa dared to ask about The Fed's leaking of crucial details about FOMC decisions to a newsletter and its subsequent refusal to comply with Congressional demands for those details.
The difficult question starts at around 45:30 - look at Yellen's face when asked the question for a clue as to her next move.
Yellen displeased:
PEDRO DA COSTA. Pedro da Costa with Dow Jones Newswires. I guess I have two follow-ups, one with regard to Craig’s question. So, before the IG’s investigation, according to Republican Congressman Hensarling’s letter to your office, he says that, “It is my understanding that although the Federal Reserve’s General Counsel was initially involved in this investigation, the inquiry was dropped at the request of several members of the FOMC.” Now, that predates the IG. I want to know if you could tell us who are these members of the FOMC who struck down this investigation? And doesn’t not revealing these facts kind of go directly against the sort of transparency and accountability that you’re trying to bring to the central bank?
CHAIR YELLEN. That is an allegation that I don’t believe has any basis in fact. I’m not going to go into the details, but I don’t know where that piece of information could possibly have come from.
PEDRO DA COSTA. If I could follow up on his question. I think when you get asked about financial crimes and the public hears you talk about compliance, you get a sense that there’s not enough enforcement involved in these actions, and that it’s merely a case of kind of trying to achieve settlements after the fact. Is there a sense in the regulatory community that financial crimes need to be punished sort of more forcefully in order for them to be—for there to be an actual deterrent against unethical behavior?
CHAIR YELLEN. So, the—you’re talking about within banking organizations? So, the focus of regulators—the banking regulators—is safety and soundness, and what we want to see is changes made as rapidly as possible that will eliminate practices that are unsafe and unsound.
We can’t—only the Justice Department can bring criminal action, and they have taken up cases where they think that that’s appropriate. In some situations, when we are able to identify individuals who were responsible for misdeeds, we can put in place prohibitions that bar them from participating in banking, and we have done so and will continue to do so.
True... and the Justice Department can also bring a criminal probe for leaks at the Fed itself as was disclosed shortly after the above exchange, a probe which may very well implicate anyone, including Janet herself hence her eagerness to avoid any "touchy" questions today.
Social media had already asked whether Mr. da Costa would be allowed back:
The big FOMC Question today: will Janet take questions from @pdacosta after he was a big meanie recently?
— Volatility B$ (@nelson3748) June 17, 2015
And his response:
@nelson3748 (Too) easy answer: @pdacosta won't even be there.
— Pedro da Costa (@pdacosta) June 17, 2015
As a result of all this, Mr. da Costa - with no apparent reason given - was not 'invited' to today's FOMC Press Conference (but had a request of his fellow press corps):
Fellow Fed reporters: Not attending today's press conference but please don't forget to press Yellen on handling of possibly-criminal leak.
— Pedro da Costa (@pdacosta) June 17, 2015
But why would they if merely asking the almighty Yellen what the state of the Fed's now officially criminal investigation, is enough to get them barred?
As a reminder, two weeks ago we reported the Committee on Financial Services subpoenaed the Fed for records related to the central bank’s review. The Fed declined to comply in full citing the ongoing criminal investigation. More specifically, Yellen says the OIG has advised the Fed that providing access to the information requested by congress would risk "jeopardizing the investigation." As in "Yellen refused to comply."
the Fed says it cannot comply with a Congressional subpoena regarding an alleged leak due to the fact that producing the requested documents could ultimately result in... a leak.
Of course this could all be coincidence, but do we know if any other reporters who have been dis-invited? Is there a room constraint that means a Dow Jones reporter is squeezed out by BuzzFeed or TMZ?
And now back to praising the freedom of speech and press in the land with the great and almighty First Amendment... which is granted to everyone as long as they remember to never actually use it.
That, and of course hearing the "questions" of that other WSJ/Dow Jones staffer, Jon Hilsenrath, who will surely be present and maybe ask Yellen for a follow up to his legendary op-ed asking why US consumers are so "stingy" despite 7 years of Fed central planning and "wealth effect."
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Just following Dear Leader Obama and Hillary's(!) lead.
RE-EDUCATION CAMP FOR YOU!...
Why can't they ask REALLY difficult questions like "If the economy is doing so well and with unemployment at 5.6%, why can't you raise interest rates by even 0,25%" or perhaps, "Now that several Fed Officials have admitted that wealth re-distribution upwards has resulted from QE and ZIRP, how much longer will The Fed keep stealing from the 99%" etc. There used to be real journalists out there who would consider being banned from such a Press Conference a real badge of honor?
These crap fests are by invitration only. The journalist's employers have changed dramatically over the past few decades. Now, getting dis-invited means the journalist becomes dis-employed. So, play nice or no job. Look at what Greenwald had to deal with. And he was one of the very lucky ones, mainly due to his already established notoriety.
This is the exact shit the Soviet Union did. Started out by simply throwing out Lenin's detractors in public spaces before he came to power. Then once he got in power he started locking them up, and the White Russians were all executed along with their families. Then came Stalin who killed everything.
Have an international exit plan. Seriously. I'm not fucking joking. Guarantee you the capitalists in Cuba in the early 50s, the White Russians and Monarchs in Russia ca. 1910, the Jews in Europe ca., 1931, the Germans in what is today Poland in 1943, the non-bolshevik Communists in Russia ca 1946 -- they all had the writing on the wall as to what was coming, yet they all stayed, and many of them paid with their lives. Why?
Things were okay, there were some writing on the wall -- but everything had always worked out before. Then came an economic collapse, and those in the middle lost the ability to flee, and subjected themselves to the will of their new masters -- whomever it may have been.
If you think the USA will be the "land of the free and the home of the brave" forever -- you are fooling yourself. I bet none of you without looking it up on google can name a single government that is as old as the United States. Even the British with their Act of Union before SHTF with Napoleon are yougner than we are.
The US is heading full steam towards socialism. If you want to see what Socialism is really like, first hand from someone who had money, and then socialism showed up, I recommend this book;
http://www.amazon.com/Nothing-Tears-Weidenfeld-Nicolson-years/dp/0297643...
Make plans while you still can.
These worthless piece of shit lackey fed governors will do or say anything for their bread crumbs from their bankster masters. Have a look at Bernanke trying to explain why and how it benefited Americans to extend New Zealand $3,000 of credit for every citizen in the country, rather than extending that credit here.
http://www.tubechop.com/watch/6245035
Please fashion your questions in the following manner...
Ms Yellen, how did you get to be so awesome?
Press conferences are information sources for the ignorant and manipulatable.
Monkeys
I understand exactly why yellen outed this reporter for his completely innapropriate question. World leaders are sick and tired of conspiracy theorists. This is a critical point history and world leaders are working day and night to fix the economy and put us on the right track. We don't need conspiracy theorists interfering with this process and undermining our government and Federal Reserve at this critical time. I agree with UK Prime Minister David Cameron when he said that we will no longer ignore outlandish conspiracy theories and leave people alone simply because they are 'following the law'. Being a good citizen is about more than just following the law - you also need to respect the values and institutions that protect and uphold our society and our freedom, and those who try to undermine it should be punished accordingly.
MDB you must work for a spin doctor outfit because it's scary how close your stuff sounds to the actual BS put out by the powers that be.......you forgot to weave in terrorism but other than that well done.
I coordinate corporate events. I could write stuff like MDB writes. But eventually I'd hang myself. One can only augment core competencies, optimize expenses, tear down silos and embrace accountabilities for so long before one either goes completely mad or loses the will to live.
The French found a solution for this problem around 1789.
https://en.wikipedia.org/wiki/Guillotine
I'd like to know if the sTate of Israel is also plagued with non-stop banking scandals where nobody ever gets in trouble.
That would be a great question to ask her.
Free speech is banned in the US, whenever it comes to televised events where propaganda needs to be spread for manipulative purposes.
The FED uses the alias "Hilsenrath" to ask the public direct questions and gauge feedback. The FED is clearly lost because controllers need public compliance, and many in the public are waking up.
MillionDollarBootlicker_ I feel fortunate to have your guidance in how to don and embrace the yolk of tyranny.
The "Yolk" of tyranny? Not the white? Or the "Yoke?"
"Yolk" is correct, as in "rotten eggs" or "something stinks here"...
I like it.
Love the wit MDB.
"I understand exactly why THE REPORTER outed YELLEN for his completely appropriate question. THE PEOPLE are sick and tired of WORLD LEADERS, BEHAVING LIKE THE conspiracy theorists, THEY ARE. This is a critical point in history and world leaders are working day and night to PUT A FIX on the economy and put THEM on the right track FOR EVEN MORE MONEY FOR THEM AND THEIR CRONIES, AND SCREW EVERYONE ELSE. We NEED conspiracy theorists and THEY SHOULD BE interfering with this process and BY undermining our government and Federal Reserve at this critical time, THEY MIGHT JUST BRING ABOUT CHANGE. I DISAGREE with UK Prime Minister David Cameron when he said that we will no longer ignore outlandish conspiracy theories and leave people alone simply because they are 'following the law'. Being a good citizen is about more than just following the law - you also need to DISRESPECT the BOGUS values and PARASTICAL institutions that PRETEND TO protect and uphold our society and our freedom, and those who try to undermine it should be AWARDED accordingly."
There, fixed it for ya!
MDB is a real POS and the enemy of American people. He hates the US Constitution with its freedom of speech, thought, expression, and association.
People like him must be dealt using his own rules: an electric chair without any legal proceedings.
MillionDollarBONUS is a satirist. That's the only way I can understand him being here. It's not like he doesn't read the articles here, after all...
MillionDollarBogus, on the other hand, is just a troll account.
MDB...I suspect that you're so much of a fuckwit that you must in fact be a fucking wit.
So what caused you to show up today, and why not more often?
Looks like we have a couple noobs to teach about your class A trolling.
As usual, a greenie just for showing up.
I would not want to be you (MDB) or any of your up-voters when TSHTF. You will not have time to ask for forgiveness...
High sarcasm is lost on the masses. Note: not all sarcasm is noted with a /sarc tag.
Damn, I almost down voted that post until I saw it was MDB. Man your stuff is pure gold.
"Please fashion your questions in the following manner...
Ms Yellen, how did you get to be so awesome?"
Are you free for dinner?
(helped you with it, I did.)
I'm surprised Mutton face was able to keep a straight face when asked about, "enforcement."
However, lots of giggles from her team behind the curtain.
I never saw one cent of my 3k and here in the fascist milk republic we are subjects not citizens.
"These worthless piece of shit lackey fed governors will do or say anything for their bread crumbs from their bankster masters."
Well......yeah. People forget, or just don't know, that the FED is a private entity owned by private banks. There has never been a complete list of owners compiled. I am fairly certain that this is due to some of the owners being foreign banks, which would startle,offend, and possibly outrage the masses to learn that dreaded furiners had controlling interests in our monetary policiy.
And as Putin has said,
only an insane person would want to resurrect the Soviet Union.
Putin's press conferences with questions and answers are much more
forthright and open than those of US leaders.
The Soviet Union served an important role. I think its too damn bad they chose Socialism as an economic model backed up by an authoritarian government. This Unipolar world stuff sucks -- badly.
Ah, it'll all work out. Someone will bail us out and we'll all be taken care of... baaa.... baaaa....
Haus....oh nooo not socialism..ahhhh. No not socialism try fascism instead. To imagine this state think of Pinochet's Chile. Yes, third world tyranny will be the outcome with the small class of uber rich violently oppressing the poor masses with a sadistic managerial class standing between. If you mean a socialist revolution coming from this state of affairs then the improvement would be welcomed by most I suspect.
Socialism would be great for the bottom 30% for the first few months, and just like Venezuela -- those which previously produced now quit as they are deprived of the fruit of their labor, thus eliminating the middle class almost overnight.
I am not scared of fascism in a generally wealthy society where you can keep the spoils of your labor. I am *terrified* of any government that uses socialism as its economic model, as it decends into authoritarianism, and if you're really unlucky, fascism thereafter.
Its this reason why 95% of the Zerohedgers, if they had to choose between living in Nazi Germany 1939 -- the hight of its power -- (assuming it continued without 40-45) or Soviet Russia in 1962 (the high of its power) would choose Nazi Germany. Has nothing to do with politics, and everything to do with money.
People want to acquire more to make their lives and the lives of their children better when compared to themselves and everyone else. This isn'T rocket science -- its basic humanity 101. Deprive people of this and prepare to live in a hellhole.
Who the fuck really believes "I think my children should have a life just as good as mine -- not better -- but not worse either, so other people I will never meet can have a better life, that would have it otherwise, at my children's expense." This is essentially socialism.
If you're not scared of Fascism, you don't understand it.
You can either be hanged with silk neckties or sisal but you're still getting hanged.
Fascism in a nation where everyone is wealthy is much less oppressive to those with money than authoritarianism in a poor country.
Neither is ideal, but at the end of the day, would you rather be ruled over and wealthy or ruled over and poor?
But only for a temporary snapshot in time would you be wealthy. Human nature doesn't work that way. Even with the gift of our Constitution, wealth is being consolidated more & more as we allow our elected leaders to ignore the rule of law.
Sorry, but I want neither authoritarian system to rule over me.
No one wants authoritarianism. You are definitely correct, as you are about human nature.
Excellent points I had not thought about before. Thank you for the "logic check."
Who is John Gault?
I am.
It is hard to grasp just how corrupt humanity is, on a collective basis.
When we have homogenized societies where we mostly feel connected, Socialism feels more natural and seems to work best (so far).
As societies become more disjointed and pluralistic, the notion of sharing becomes less popular, and factions begin to battle over their "share". This is where we see things coming apart across Western societies.
Our Constitutional Republic kept America focused on the rule of law and the general population largely unified for about 200 years.....but the past 40 years especially has seen a major change in the way we feel about each other as we have become more polarized. Now, it is all about power and control as factions of self interest battle over the spoils of the once great country we were. Ever day the Congress is in session is another opportunity for one group or the other to steal more.
No matter what system of governance humans chose, it will eventually become corrupt. Some systems may give the average person a fighting chance longer than others, but sooner or later the re-set button will have to be pushed or some form of Authoritarian rule will emerge.
That's life.....nothing more constant than change.
That's why I'm an anarchist at heart, but willing to work with ad-hoc organizational structures. No human system is perfect, and actually that's just fine. Not grounds for becoming embittered, or cynical, or just giving up; it's the constant puzzle we always have to deal with to get things done. Just so we don't get complacent and mistake the tools for the actual task, getting so infatuated with the intricacies of a specific system that we stop trying to do what we're really supposed to be trying to do, and instead spend all our time farting around with a system that is inherently flawed from the outset by the mere fact that humans thought it up.
Most hierarchical systems are attempts to shield each of us from having to be responsible for and to ourselves and others. That's the flaw, really. When somebody wants to help you, they usually say, "I'll help you," taking the credit for themselves (as they should). When they don't want to help you, they should just say "I don't want to help you," but humans being sociable critters, we don't like saying that. Instead we say, "I'm sorry Sir, our policy doesn't allow me to help you in this situation..."
People deal with each other well enough in small groups. Or poorly enough, depending on your personal family experiences. It's when our unit-groups of people get too large that the problems you describe start to crop up. I don't think there is a solution to that. I don't really think there needs to be, but we need to acknowledge that fundamental imperfection in our nature and "build it in" to our assumptions when we set out to do anything really big that requires lots of people and organization. Instead, we tend to credit The Organization with sentience and priorities outside of ourselves. That's where things really start getting screwed up.
Fuck that. I want authority and clear hierarchies, a chain of command and responsibility, and I want to march in some snazzy fucking uniforms designed by Hugo Boss.
But yeah, fascism over communism anyday of the week. People use fascism as a pejorative without any idea what the word even means. They think fascism = dictatorship or tyranny, and that somehow communism was not much, much worse.
With attribute to G. Edward Griffin: "They're All forms of Collectivism..."
Sadly, the most likely end result in the USA (imho) will be neither socialism or fascism. We will probably end up in a dictatorial feudalistic mess with the three or more (probably the latter) countries that formerly comprised the USA constantly pecking at each other. That is assuming, of course, that there are survivors left on the North American continent after WWIII.
Another moronic clueless rant against socialism.
You really deserve the capitalist hell you live in. (Ah I know, US is not capitalism, it is a socialist country, just like Marx and others envisaged, isn't it? Illiterate morons...)
Ass.
The US is not capitalism. It isn't socialism either. Its a weird Capitalism frankenstein where those who gamble with others money get fines dramatically less than what they steal. We have eliminted bankruptcy for certain institutions who habitually commite said thefts, and bankruptcy is a fundamental principal of Capitalism. If you make it possible to eliminate bankruptcy, you eliminate capitalism, as capitalism is the efficient distribution of capital, and preventing bankruptcy prevents the efficient distribution of capital, which destroys one of the fundamental tenants of capitalism.
Fuck Karl Marx, Fuck Lenin, Fuck anyone who calls Socialism an answer to anything but a back door to authoritarianism -- which it does quite well.
Oh yeah, fuck you too.
EDIT - I do enjoy the system, and it certainly isn't a hell for me. I know how it works, and how to abuse it until it finally collapses. I do it daily.
EDIT 2 - Here is a spoon;
http://kindersay.com/files/images/spoon.png
You can eat my ass.
Moronic rant gathers speed. Keep up the good work son, you've memorized the Austrian hogwash pretty well. Care to repeat again? Socialism, nazi, authoritarian, this is not capitalism, we never had capitalism, capitalism is so great, this is not capitalism, this is not capitalism, uhuhuhuhu...
Idiots.
"Idiots."
... says the man who apparently prefers socialism. Pray tell oh wise jackass, can you name a single macro-economy where socialism has worked? Just 1. No we aren't talking about capitalism with social undertones (e.g., Sweden & Denmark) -- I am talking about full-on blow-hard Socialism.
But you'll come with your swallowed list of "we just need the right people to run it" blah blah blah bullshit bullshit bullshit. I hope you get your socialism sir. I hope you get your socialism and you aren't allowed to leave, as long as its not the same country as me.
Its no Moronic rant -- I do this work for a living, so I'll stick to my "hogwash" and you stick to your talking points and academic wet-dreams. Its all people like you have, which is good because anything more becomes destructive.
(See what Socialism did to the former East Germany and then compare it to the former West Germany. Then throw in the little fun histoic tid-bit that before the war, what became East Germany was the wealthy side and what became West Germany was essentially noting but farmers. Amazing how Socialism completely destroyed one side, while capitalism not only rebuilt, but enriched the other.)
But you don't care. Realize most on this board will never comply. We'll turn into leaches on the state, we'll escape and go somewhere else, or you'll have to kill us. But hey -- isn't socialism great when your best and most productive turn lazy, run away or get murdered? What a wonderful economic system.
Still the same story, see East germany, Russia, bla bla bla...Why don't you instead see what your beloved capitalism made to you Americans rather than denying this is capitalism? Someone already said it below, and I have written this on this blog tens of times before: Capitalism evolves into a crony, monopolistic tyranny as capitalists (industrial and financial) capture the state, and abolish free markets. If there is no state, they form one, by force. Capitalism has never existed without state power and its interference in the accumulation process. There is a fucking reason the world is full of capitalist nation states. Since capital has gone global, they want a global oppressive state now. No surprise, makes perfect sense.
On socialism, many people have spent tens of years trying to overcome the problems of bureaucratic socialism in the last four decades. If you don't have a clue about any of these things and still think that those who call themselves socialists are craving for a Stalinist hell, that is your own illiteracy. Socialism and its construction in a free society has been the ONLY topic among many of those who call themselves socialist. No one apart from a few die-hard stalinists wants an oppressive state, central planning, border controls, or any such measures. Some form of markets are considered as essential in the organization of the economy.
If you are really interested, start with Bookchin "Marxism as a Bouergois ideology", Gibson "The Community Economy", Gibson "Enabling ethical economies", Fuller "Alternative Economic Spaces" You will find many traces of anarschism there, combined with a participatory social and government organization minimum possible bureaucracy.
Or rather, read more sociopathic Misesian/Randian hogwash, and then bedazzle at why your beloved capitalism turns into this nightmare because of its very nature...Oh sorry, I forgot again, capitalism never existed, USSA is a socialist country, Stalin killed people, East Germany was a nightmare, long live capitalism!!!!
For someone who has been a member for 5 years and some change -- this is your 4th post. So take your "I have written this on this blog tens of times before" and shove it right back up your ass.
I've read Bookchin's book before. You are one of these types that expects groups of people to act in society's best interest even if it conflicts with their own, because its in society's best interests.
Here's the problem -- the human condition is us doing things that makes us feel good -- commonly called "utility." When "society" needs us to do something for its benefit which brings the individual no utility -- then it doesn't happen, or occurs through how you so eloquently called it a "Stalinist Hell," e.g., authoritarianism, which is inherently inefficient and not only eliminates the economies of scale that many proclaim is the justification of a social and centrally planned society -- but actually retards economic activity below the point of the economy overall not benefitting from economies of scale.
That being said -- I do not deny that the capital markets in the United States are completely fucked. They are. In the end, both Capitalism & Socialism suffer the same Achilles heel -- corruption. The difference is, societies whose economy is based upon capitalism thrives when there is a competitor out there forcing the system to be efficient and reduce corruption. As soon as the USSR fell -- it was also the death knell for the United States as well, just a few decades in the future. As you see so well now, the United States seeks an enemy. Previously it was the USSR, but the USSR was actually powerful enough to kick the USA's ass if it had to. Once it collapsed due to your Stalinist Hell, the US still seeks enemies, but it can completely destroy them if it wanted to, thus there is no need for competition and inefficiencies & corruption develop -- which you are seeing now.
I agree in principal that what we have right now is completely fucked. I disagree in the strongest possible terms to your assertion that capitalism isn't the answer.
You cannot have freedom without capitalism, as capitalism is the freedom of individuals to use their capital as they see fit. These two concepts are intrinsic to one another and cannot be separated.
One can either be pro-freedom and thus you are also a capitalist, or your are a socialist, and by default against freedom.
Capitalism doesn't need a state. Watch the TV show lost -- a ton of people on a fucking Island, the show was written by self-proclaimed Communist, and the principals of everyone on the Island were 100% capitalism. E.g., people doing stuff in their own best interest without a government to tell them what to do.
Your assertion that capitalism needs a state is false, as without a state capitalism is the default economic system. It is the economic system that is given to us by birth, socialism is something that is taught, you have to believe in it for it to work, and have to be willing to accept a lower quality of life for the benefit of others.
If we could have a single nation on earth, comprised full of nothing but flow-hard socialists, all the old are killed of, the unproductive are killed off, the mentally disabled are killed off, and everyone that is left really believes in the social model -- then it would work beautifully. No doubt.
Capitalism isn't perfect, but not becuase capitalism itself isn't perfect -- but because we humans are not perfect. We will never have a perfect economic system because man is fallable. We can only chooses the lesser of two shitty solutions. Thus, I choose capitalism as it lets me make my own choices and I can work for myself if I want to.
People like you will be coming out of the wood work when this whole thing blows up. I think living in Germany right now is a good spot. 40% of the country had to live under socialism and know what a hell hole it is, and have no intention of ever going back. The Anglo-Saxon countries have never had to really experience it, and I fear they're going to run into the arms of socialism when this blows up, because they lack a fundamental understanding of what capitalism and socialism are.
You are so new here that you don't even know old posts are not being kept any more, not even longer than a month I think. Just like these ones will disappear in a few weeks.
Too many false assertions once again in your post, and I don't have the time to respond to all of them, If the old posts had indeed been kept as you thought, you could have read those pages and pages of discussions we had here on this topic, especially state and capitalism. Bad luck.
I'm not really interested in reading about the joys of socialism. Its nothing but academic. You keep your pages and pages of examples then.
I've been here *every day* for almost 3 years now. This is the first time I have engaged you -- I guess I've just been lucky.
EDIT - typical leftwing schick "oh there is so much wrong with what you have to say ... I don'T know where to begin."
Translated from Shithead Left-Wing Keyboard Warrior to plain English -- "fuck, ok you got me, well, I have to say something not really to defend my point publically anymore -- because anyone reading this knows I just got owned as well -- but to reenforce my biased to me so I can continue believeing in this delusional dream."
One post ago you were trying to shove things up my ass with idiotic accusations and writing a whole page, now you don't care. Let me remind you: Apologizing is a virtue.
Anyway, yeah sure this is all typical leftwing schick. Loser Austrians, I know it hurts so much to watch socialists actually stand up to the bankers.
I really have more productive work to do than dealing with Randian/Misesian sociopaths whose knowledge on economics/philosophy is so pathetic that they even dare to equate capitalism with freedom. Being called a moron is a compliment for you.
I don't care -- I never have, socialism is a waste of breath on me. I know for a fact it doesn't work, and have not only history, but the human condition on my side.
Socialists don't stand up for anything. They *love* the banks, they love the screw job to the Western World's middle class -- why? Because socialism is an economic ideology of the poor. Have you ever thought that poor people are poor for a reason? That they deserve to be poor? Likely not.
See capitalism is freedom for those that are "productive" as they "produce" more than they "consume," whereas for the lazy -- capitalism is hell. For the lazy -- socialism is the dream as you can get other people to work for you against their will and for the productive it is hell. The problem for you is there are more producers than lazy.
You get back to printing out those hammer and sickle signs, and keep laughing at my "pathetic" knowledge of economics. I mean -- I have a defended and published thesis under my belt in macro-currency flows between governments, and work for one of the largest financial services companies in the world. But hey -- what do I know? Some socialist with purple hair living in the communal book store's basement he runs with his life partner know better with your degree in Afro-American lesbian studies.
You are no economist like your user name says -- you are an ideologue. You believe in Socialism to such an extent, it has poisoned your mind against reason and common sense. You are in essence, like a rabid dog -- an Old Yeller analogue. Like Old Yeller, the most humane thing to do to you would be to take you out back and put you out of your misery as you have lost your humanity.
Someone calling you a "person" is stretching the definition of the term, and moron would be a level of intelligence you are too far removed from to even seriously bring into the conversation.
You will never get your socialist utopia. Ever.
Should I get a new Porsche, or maybe the new M6? Opinions?
No, the US is not Capitalism. It's what Capitalism evolves into. Right now we're transitioning into Fascism, which is the end-stage of Capitalism. We also have some characteristics of an updated form of Feudalism, without the framework of religious justification.
bullshit - this is what flawed human that are allowed to collect undue power cause capitalism to become. capitalism isn't perfect, but suggesting a "cure" (socialism) worse than the poision only looks good on paper and until its implemented and the consequenses (totalitarianism) accrue.
Tomato, Tomahhhhto. A system that allows human flaws to divert it in a predictable direction is in itself flawed. It hasn't been hard to predict how Capitalism would veer off the tracks. Lots of people have done it. And what you're describing as inherent to socialism is that same exact set of flaws you're saying has perverted Capitalism. The problem isn't Capitalism or Socialism; it's people themselves, and mindless adherence to human systems as if they can somehow be perfected and overcome human imperfections.
Capitalism and free markets are interdependent. Where is this free market you speak of?
RIPS
What's the first thing goal of someone who has gained a momentary advantage in a "free" market? To shut that market down, to make the advantage permanent. Only the consumer wants a truly free market. On the other side of the table, nobody wants a free market. Watch what they do, don't listen to what they say.
You've touched on one of the inherent, and easily foreseen, problems with Capitalism.
Who the fuck really believes "I think my children should have a life just as good as mine -- not better -- but not worse either, so other people I will never meet can have a better life, that would have it otherwise, at my children's expense." This is essentially socialism.
Wow Haus, now that sentence and it's conclusion were just stupid.
Where the fuck are we supposed to go? The few million patriots in America still represent our best hope of rebuilding a free society on the other side of this shit-show.
Do you think any of you will survive a US Government v Patriot civil war?
This isn't the beginning of the 20th Century. The .gov needs a small praetorian of drone pilots without a conscience. The ones who will survive will have been so far off grid for the few years the purges go on that they'll never re-acclimate to society again. They will be permanently "off-grid" and thats that.
The "US Patriots" -- if they had any sense about them would get out now, let the whole system collapse and humanity take its course. Then when the population at large starts to fight back en masse, come back and help.
The problem is the average person is too disconnected from reality right now to understand what is going on. Remember 9/11, every news media outlet started talking about this idiot group of goat-hearders on literally the other side of the world. 12 fucking time zones away, and we started a war we've been there since October of 2001 and we'll never leave.
Imagine you get a Oklahoma City bombing type blame-game with something 9/11 sized, which is blamed on sovereign citizens on every single news media outlet. The population will turn on the group of people that are the nations last hope while simultaneously surrendering what remains of their freedoms to fight "domestic terrorists." You'll get people calling the police for flying the "Come & Take It" flag, purchasing weapons, ammo, having a Confederate Flag bumper sticker, etc., etc.,
Have a plan to get out, and then come back in a decade or two when the nation has screwed its head on straight again.
Where to go? I prefer Germany, but the Scandinavian countries are good bets too. I am particularly fond of Norway.
"The US is heading full steam towards socialism."
We're headed for something alright, but it's not socialism. I wonder if you even know what socialism is!
Journalism has really gone down hill over the years. Reporters used to investigate and ask tough questions. Now its all PR with preplanned questions and answers. They're all afraid of losing their jobs.
I am not sure they should even call it journalism anymore. I think at the end of the day they are mostly questioning their employers...
cought*Gary Webb*cough*Danny Casolaro*cough
funny how they're both dead!
There are still rare exceptions, such as Vincent Browne. This would never be allowed in an American press conference:
https://www.youtube.com/watch?v=HAf7J4a_T1g
Sigh. Even this "tough questioner" uses quite a few "kind of" and "sort of" qualifiers. I guess that's because he too knows the unwritten rulebook...appease, appease...
Again, see my link above for a dose of real journalism.
that would be a CAPITAL OFFENSE!!!
Da Costa will suicide himself within a week...falling off a building or being nail gunned are Costa's flavour of the week choices.
Perhaps he'll get lucky and have some embarrasing skeletons in his closet that will allow him to escape with his soon-to-be-disgraced life?
Yellen: MOAR muppet journos, please
What does that eye thingy mean?
https://www.pinterest.com/sablefeather/eye-of-ra/
It's one of those East inspired tramp stamps. Hooligan women adorn them just above the butt crack, as illustrated by Mr Banzai's work.
Janet is the Federal Reserve binary printing press repairman. Think Maytag |Tackle your tough money laundering loads.
Gee, I always wanted to live in a banana republic........
They needed an extra seat for Jon Hilsenrath's sense of hubris.
So well played!
Hang her really high.
So, will 4 feet do it?
I hear the dirt bed real estate market is set to boom.
:P
Careful,
That will get you reported to some 3 letter agency
I'd love to see subpoena results for commenters on this site. I'm betting 75% or more of the linked email handles were created expressly for posting on ZH because we all know this site is monitored by any number of agencies for explicit threats against high level officials.
If an ABC agency wanted to know who we are, they could easily find out via IP tracing of login/posting activity. But some pencil pushing fed parasite at DOJ could be stonewalled with a fake email and fake name. Thats assuming Tyler would even comply with a subpoena request, which I'm hoping that they would not.
Our only protection is that (for now) they do not even care about us. We are just little piss ants to them, hording inconsequential amounts of gold and silver. We are easily dismissed by the public, by and large, as conspiracy theorists and kooks. I'm sure some of the more outlandish posts on this site are planted with intent to further that perception and discredit the true insights presented on this site.
Yes.... Like the DOJ
http://popehat.com/2015/06/08/department-of-justice-uses-grand-jury-subp...
Some reporters will be jumping from buildings soon.
she will announce a rate increase to pre empt the greek stuff. RD
Or pushed...
Yellen: No more difficult questions, please.
Afflict the comfortable...
It is so difficult to keep up this charade if you insist on asking relevant questions. Can you not be like Liesman?
Or Hilsenrath, who only asks difficult questions of the hapless victims of Fed trickery.
The Bill of Wrongs
two hoots a newbie shill. Don't be confused.
In this meeting, Yellen will say that she is actually black and asking that question will be considered rayciss.
Yellen must identify as being a bald headed Jewish man with a beard.
Sounds like Janet Yellon and Hillary Clinton have something in common: if the press isn't kissing their bumm, they aren't allowed to be in their presence.
How fucked up is our country that we NEED our government to lie about its fiscal state of affairs . . . at a time when government MONETARY intervention has remained at unprecedented levels for 7+ years?
If this doesn't scream '.GOV is USELESS to address our problems, nothing does.
Yellen: You're permitted to ask me hawkish FOMC speculative questions. Do not ask any negative condescending questions regarding factually proven points. We're not here today to discuss such off topic details.
Conflict of interest for Yellen. The Fed is a criminal orginization to begin with so any investigation would self-incriminate.
Misdeeds...
How quaint.
Start watching at 40:40, not at 45:30 to get the question that Pedro da Costa's was a followup to.
He has balls. He just asked the fox about the missing hens in public. Pedro da Costa, nice job!
I think the 40:40 was the offical plant question to end discussion on the matter. Look at how many times she looks down at her script.
Pedro apparently was out of the loop, or he did not read his provided for quetion that was on her script. Hence her look!
firstdivision "Hang her really high."
******
So you only have to stand on your tippy-toes.
She is SO irritating!
"So,...". Nearly EVERY time!
DavidC
I knew her as an undergraduate at Brown. She was a know-it-all little snot even then.
Thankfully Janet's head didn't have a scanners moment.
"Scanners" Head Explosion http://m.youtube.com/watch?v=pjnZO5ZgWE8watch her beady eyes shift back and forth. LOL!
Yellen prefers "what is your favorite color?" questions....gets stumped on that some time....
At some point the Fed's stupidity will slit their own throats and then we can go to a market determined interest rate.....
In the meantime the US sheeple will have to suck it up cause they are exceptional people.....
"Blue- I mean YELLLLLLLOOOOOOOOOOOOOOOOOWWWWWW!!"
Clearly, she sees her job as keeping the Ponzi going, not bringing the system back to sustainable health. This will just spin until it falls off the table, and every citizen will take the ride down.
I apologize beforehand.
Ugly bitch!
it can be boiled down to 2 simple questions:
If the economy is doing well, why do you not raise rates?
If the economy is not doing well, why pretend it is?
I would like to mention that Pedro is a reporter who definitely follows WB7's works and no doubt reads ZH regularly.
Well, he won't get back in for sure now.
I'm trying to figure out how he got through the vetting process in the first place.
While disturbing this is not really news. The market is so frail that it hangs on every word from the old hag's mouth. The disapproval of asking tough questions is paramount to keeping the criminal heist operating as planned
ooh, she's an angry elf
gnome, actually
maybe a dwarf?
Keebler elf. Get out of your Tolkein rut.
Nice Elf quote
She's retarded
The bank scammers of the last 230 years or so are scared methinks. Fear motivated Yellen's answer. These are malevolent people, with very little interest in the strength of our country and an overabundance of interest in lining their own pockets, right down to the very very bottom of their charitable foundations' piggy banks.
Voltaire: "To find out who rules over you, simply find out who you are not allowed to criticize."
McEnroe: "You F@#*^# can't be serious!!!"
Simple, just give each reporter a sheet with a list of questions that they are allowed to ask.
1. How many inches of rain will it take to sway consumer numbers?
Several FOMC officials were pulled over at Mexico customs border checkpoint, attempting to re-enter the US with five specifically revealing engineered non-detection RV's. ICE officers declined to comment as investigation is underway. One source who wishes to preserve anonymity states, we discovered enormous amounts of cash and military grade armament. It has to be nearly a billion dollars.
/sarc
<---Vote for Pedro
<---Vote for the fascist witch queen of the gnomes
Janet Yellen belongs in jail.
We need to audit the Fed and see how many international oligarchs they bailed out and gave free money.
This reminds me of Monty Python and the "Bridge of Death". If you ask Yellen "What is your favorite color?" you may pass. If you ask difficult questions like "What is the capital of Asyria?" you will be cast into the abyss, the "Gorge of Eternal Peril".
https://www.youtube.com/watch?v=cV0tCphFMr8
How much snow
could a Fed Snow Show show
If a Snow Show could show snow?
They should send this dude to fed press events!
https://www.youtube.com/watch?v=WMtfTRBVaeA
It's just a shit-show circus of epic centrally-controlled proportions. Just wait until the axle bearings give out and large chunks of the economy start flying everywhere. You don't want to be in the way when they land. Some of us may die, but that's a sacrifice they're willing to make for their grand experiment in social and financial engineering.
About time they changed the national anthem to one of Johnny Cash's prison songs.
I'd like to one reporter ask a question that's not on the approved questions list like:
The Majority of Ecconomists in the World agree you can never ever raise Interest Rates because it will break the entire Market and cause Bankrupcies.
What say you go....
Not going to happen in this shit show. You are looking at a stage (why its being televised). If you listen and focus, you can hear the bullshit.
This bitch says absolutely nothing. Hard questions my ass. Press her on what "changes", what "meaningful actions" what "appropriate economical conditions" A boy scout could ask harder questions. Like talking to an 8 year old. But, then again, she doesn't have to answer jack shit, this is a private company. Pedro ask about punishment for banks,,, she will not punish her bosses, he know that, why ask stupid questions. You journalist need to ask real fucking questions until they throw you out.
She says the Labor market has improved ,,, WHAT??? This is really fucked up folks.
Pedro went off script. Yellen was on script. Fucked her up - this, after the cue to all the bought off presstitutes that the "presser" was pretty much done. Ol Pedro kept-a flinging the 2nd grade questions, and Gnome-girl went Stepford and notes were made.
Pedro better check his brakes, do a sweep of his place, and I am sure his bosses will collar him in.
NO PRESS FOR YOU!
C U Next Tuesday
*
Fed = Zimabarb monetary policy. QE4 is coming, not that QE ever stopped (exported to places like Japan etc.) Sometime concealing the BS gets to a point where the stinch is too much even for the closet.
oi vey!
Yellen:
In the interest of transparency we have announced that from now on we will not be taking any serious questions.
We know that you know that we know you know.
You know that’s true and there you have the truth.
Transparency is about “seeing through” and I would say you reporters can see right through the FED.
There you have it: truth and transparency.
Next question.
It’s the cracking of a police state. They know their enemies, the honest people who want their country and their market back (the victims of the Fed’s tyranny), are coming for them or they wouldn’t be afraid of a reporter.
I think the Fed police state is coming down.