Janet Yellen: Either Lying or Incompetent

Janet Yellen just cemented her status as the third member of the unholy triumvirate of Fed Presidents: Greenspan, Bernanke, and now Yellen.

 

Greenspan was so afraid of deflation that he hired Bernanke (an alleged deflation expert) in the early 2000s. Between the two of them, they created bubbles in virtually every asset class on the planet.

 

Deflation did hit for a total 12-14 months (late 2007-early 2009). It was enough to terrify Bernanke to the point that he spent well over $3 trillion (an amount larger than all but a handful of countries’ GDPs), cut interest rates to zero (punishing savers) and generally destroyed the US economy... all in the quest of propping up a few crony capitalist banks that were sitting on several hundred trillion dollars’ worth of derivatives trades.

 

Yellen took over the Fed in early 2014 and has since proven herself to be just as misguided or dishonest as Bernanke was.  Among other things…

 

·      She claims there are no signs of stocks being overvalued, despite the fact that by virtually every metric in existence the market is SEVERELY overvalued.

 

·      She first claimed inflation was too low, and now claims that rising prices are just “noise” while meat prices hit record highs, gas prices hit their highest levels since 2008, home prices are as unaffordable as they were in 2005-2006, healthcare costs are up double digits and energy prices are rising.

 

It’s an astounding series of comments, coming from the woman in charge of US monetary policy. What’s even more astounding is that it appears Yellen actually believes this stuff, which indicates that she either A) doesn’t read the news or look at price charts for items or B) has no idea how to interpret data or C) is a liar.

 

This is the same story we had with Bernanke and Greenspan, both of whom oversaw epic meltdowns in the financial system. Yellen will be no different.

 

This concludes this article. If you’re looking for the means of protecting your portfolio from the coming collapse, you can pick up a FREE investment report titled Protect Your Portfolio at http://phoenixcapitalmarketing.com/special-reports.html.

 

This report outlines a number of strategies you can implement to prepare yourself and your loved ones from the coming market carnage.

 

Best Regards

 

Phoenix Capital Research