Janet Yellen Says She’s Sorry
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Janet Yellen says she’s sorry, I’m sorry, so sorry. So she had a conversation with Scott Messon, who is going to be her successor. And she lectured, she lectured Scott, who’s actually had a real job in his entire life, lectured him, okay, because Janet Yellen, again, never worked in the private sector ever.
the importance of the independence of the Federal Reserve. Here’s our first quote. What research has shown research, huh? You guys are real good at the Fed and Treasury when it comes to research, right? Yeah, because you called inflation real well. Anyway, what research has shown, and this is certainly what I see from my own experience, is that countries perform better.
They have not only inflation performance, but real performance in terms of job creation and growth is also stronger when a central bank is left to its own best judgment without political influence.
Yeah, like the Federal Reserve hasn’t been used politically over the years. And let me tell you something. yeah, they made great calls. yeah, fantastic calls. You know, leading up to the great recession. Yeah, Ben Bernanke. the housing market is rock solid. Fantastic. yeah. Alan Greenspan.com mania going through the roof, not raising margin requirements. How is it that I saw it?
Back in the 1990s, I was in my, I was a kid. And I saw that they were screwing up at the Fed. Anyway, this is funny. Here’s the sorry. I’m sorry, so sorry. Janet Yellen was sorry over failing to make more progress in narrowing the fiscal deficit. Progress. When you hear the word progress, okay,
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One would assume that okay, I’m heading in one direction Okay, I would like to get there, you know a little bit quicker, but you know I wish we could have gotten there a little bit faster. So you got somebody working on your house Okay, and they tell you it’s gonna be done in two weeks and it’s you know We’re going on four weeks and they’re working on it, but they say you know I’m sorry we haven’t made as much progress then they’re attempted to make any progress There’s no such thing as progress. You’re going backwards.
That word progress, I don’t think you understand what it means.
She says, this is Janet Yellen, I am concerned about fiscal sustainability and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates.
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Thanks, master of the obvious. Wow, I’m really, really, you know, here you go, here you go, Scott. Here you go, Scott. Here’s one big fat stinking shit sandwich that I’m heading you. All here you go. I’m handing it right over to you.
But let’s go over Janet Yellen’s tenure here. Janet Yellen was the Fed Chair from October 2010 until February 2014, and then Fed Chair from 2014 until 2018. And free money kept rates at zero.
We warned about this. We warned about this and the problems. Okay. She then became head of the treasury under Joe Biden. And again, she manipulated US debt issuance to boost risk assets at the expense of the debt crisis. basically under Yellen, total US debt increased.
by 6.8 trillion. That’s when she was Fed chair and vice chair. Another 8.4 trillion when she was Biden’s treasury secretary. So Janet Yellen, who’s so, I’m so sorry. I’m sorry. She personally presided over $15.2 trillion in U.S. debt, an increase in U.S.
debt. That’s 42 % of all the debt that this country has ever issued.
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But she’s sorry. But that’s not stopping her right now. She’s saying she’s sorry and she’s worried about it to shove as much money as they possibly can out the door before, well, it’s not Joe, it’s Obama, before she leaves. She’s sorry, but she’s still swiping the credit card left, right, and all over the place. We’ve mentioned this before. Our interest on our federal debt is $1.2 trillion that is the second largest government outlay. But she’s sorry, so it’s okay, I guess. Watchdog on wallstreet.com.
