Janet Yellen Needs to Lay Off the Magic Mushrooms

(00:00.362)

It was a month or two ago, Janet Yellen was in, I think it was in Germany, and she went to some, was it, I don’t know. I forget exactly where it was. Not important, she went to some restaurant and served her up some magic mushrooms. Ooh, I think Janet, you know, I think she liked them because I think she brought some home with her because man, oh man, she was on MSNBC. Yes, morning Joe yesterday, I’m too is asked.

about the economy and it most certainly sounded like she was on magic mushrooms. Janet, you got to lay off on the magic mushrooms, okay, especially when you’re doing television interviews. So she was asked basically about the disconnect between how the economy is doing and how people feel it’s doing and that people are positive about their own financial situations.

She said that Joe Biden’s agenda will take time. Okay, let’s go. I wanna go back. This is US special, BBC US special correspondent, Cady K asked, I wanna go back to the rosy picture that you just painted of the US economy with inflation coming down. Where? Where’s it coming down? Anyway, and unemployment coming down. And answer the riddle that the White House is finding so befuddling, which is with those good numbers.

Why polling amongst the American people is so pessimistic about the economy? And I’m wondering if it’s that they have just been through a period of inflation, they fear that inflation might come back again, those high oil prices that Mika was talking about, the OECD is forecasting slower growth next year, something like 1.3, I think for the US, it’s just fears about the future. I’m not asking you to play therapists with the American voter, but there seems to be a disconnect between the numbers we’re seeing

and the way people are feeling about the economy and how do you account for it? See, this was just extraordinary to me. Cate K was basically taking the White House’s position on this and basically saying, oh, those dumb Americans out there, look at the numbers, look at all the numbers, aren’t they right? No, they’re all fugazies, they’re all fakes for crying out loud. Anyway, yell and answer. Again, God, I think she’s on mushrooms.

(02:22.33)

I agree with you that there’s a disconnect. And I don’t have a simple and convincing answer. But Americans have been through a lot. The pandemic really took a toll on American families. What are you saying, Janet? You’re saying that the lockdowns and the pandemic are affecting our ability to understand that the economy is really doing great. We’re just dumb.

Is that another side effect from taking a vaccine or getting COVID? Anyway, we are enjoying a remarkable recovery, but also with high inflation, much of it reflecting supply bottlenecks that developed during the pandemic. Magic mushrooms! Genet, no! Supply chain nonsense! Those were over a long time ago. Spare me the BS. Of course, Russia.

And then with Russia’s brutal attack on Ukraine, we saw a surge in gas prices, in food prices. Americans have been reeling from high inflation. They do realize in polls that it’s coming down.

What poles are you looking at, Jan? What are you looking at? Are you seeing things? Are the magic mushrooms making you see things? Holy Lucian, the sky with diamonds. Anyway.

American’s financial situation actually improved during the pandemic.

(03:58.266)

and you printed freaking money and you sent it out. You did, Trump did, okay, it’s nonsense. And then she goes, they’re positive on that. The negative results you cite mainly reflect their answers to how is the economy more broadly doing.

Why? Again, Janet Yellen at this point in time, if you were to ask her which weighs more, a pound of lead or a pound of feathers, she’d say lead. Not being able to discern that there’s no freaking difference. Anyway, I think it’s gonna take some time. We’ve had a trifecta of legislation that Biden Congress have passed that we’re investing in America in ways we haven’t for decades. And…

it’s costing us more money. It’s not, it’s not, and I see, there’s a thing that’s called return on your investment. You guys are just throwing good money after bad. You don’t wanna do that. Anyway, Janet, come on, you gotta lay off the mushrooms, please. Watchdogonwallstreet.com.