“Federal
Reserve Chairwoman Janet Yellen said the chances of recession this
year are ‘quite low’ despite mounting worries that the U.S. could
be heading toward a downturn after seven years of tepid economic
expansion.
‘The U.S. economy
is doing well. My expectation is that the U.S. economy will
continue to grow.’” The problem is that a bulk of the
economic and fundamental data suggests the opposite is likely true
as witnessed by the recent decline in the Economic Output Composite
Indicator which measures both the service and manufacturing side of
the economy.
This is a repeat of her history. Remember Yellen said that
there was no housing bubble and that the US economy was safe...that
was in 2007 when the housing market had already been in decline for
7 months.
After the bubble burst she said ..."for my own part I did not
see and did not appreciate that the risks were with
securitization.... I didn't see any of that coming until it
happened".
Really are these central bankers that blind?...Maybe but I
expect she knows why and isn't allowed to tell the country....at
least until it happens again.
Posted by frtaylor on 23rd of Jun 2016 at 12:45 pm
Not offended, more annoyed by the noise, by the "if only
everyone would listen to me I'd have this all fixed in no time"
mentality. If you had some well-respected books on the subject, or
other real-world reputation as a major thinker in this area, etc.
that'd certainly separate you from the herd. As it is, there are
lay opinions all the way across the spectrum, and I don't see why
anyone should give more weight to yours anymore than the next
guy's.
Decision makers (politicians - yes, I know, ugh) really have
no choice but to put people with backgrounds and reputations like
Yellen's into positions such as Fed Chair. Otherwise, one guy is as
good as the next - how would you decide? Yes, there is plenty to
argue over regarding Fed actions! But to make remarks to the effect
that "this person is a total idiot"only tells us where you stand;
it doesn't forward the debate or change minds. That's all I'm
saying, and that's why you don't see me post my opinion.
Posted by stevieb294 on 23rd of Jun 2016 at 12:54 pm
With good, logical economics that has been proven to work within
this CAPITALIST society many times in the past and are being
ignored due to politics today... Yes, some people ARE economic
idiots, sir
Posted by frtaylor on 23rd of Jun 2016 at 01:06 pm
Look, man, I don't hate capitalism, and I am all for folks
having opinions. But pounding the table gets us nowhere. Don't
sweat it too much - I am not angry with you or anything like that
(no need to go with the whole "sir" thing, I'm sure we could have a
great time shooting some pool, etc.), I just find it beside the
point on a trading site.
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Yellen says recession odds are low
Posted by sbaxman111 on 23rd of Jun 2016 at 12:14 pm
The problem is the Federal Reserve can not “speak the truth.” If Yellen stated that despite all efforts, there is little that can be done to forestall an impending recession; consumers would contract, markets would fall and a recessionary onset would be accelerated.
Of course, this was the same problem that Ben Bernanke faced in 2008 when he stated on January 10th of that year:
Or on the following 9th of June:
Well, we all know what happened next.
My favorite...
Posted by stevieb294 on 23rd of Jun 2016 at 12:21 pm
...answer yesterday was: "The economy is experiencing slower than expected growth and we really don't know why."
Really, lady?
Give me a call and I'll tell you...!
So much for the knowledge of our "public figures." as one recently offended BPT member called her on this board...
This is a repeat of
Posted by wowten on 23rd of Jun 2016 at 01:19 pm
This is a repeat of her history. Remember Yellen said that there was no housing bubble and that the US economy was safe...that was in 2007 when the housing market had already been in decline for 7 months.
After the bubble burst she said ..."for my own part I did not see and did not appreciate that the risks were with securitization.... I didn't see any of that coming until it happened".
Really are these central bankers that blind?...Maybe but I expect she knows why and isn't allowed to tell the country....at least until it happens again.
Not offended, more annoyed by
Posted by frtaylor on 23rd of Jun 2016 at 12:45 pm
Not offended, more annoyed by the noise, by the "if only everyone would listen to me I'd have this all fixed in no time" mentality. If you had some well-respected books on the subject, or other real-world reputation as a major thinker in this area, etc. that'd certainly separate you from the herd. As it is, there are lay opinions all the way across the spectrum, and I don't see why anyone should give more weight to yours anymore than the next guy's.
Decision makers (politicians - yes, I know, ugh) really have no choice but to put people with backgrounds and reputations like Yellen's into positions such as Fed Chair. Otherwise, one guy is as good as the next - how would you decide? Yes, there is plenty to argue over regarding Fed actions! But to make remarks to the effect that "this person is a total idiot"only tells us where you stand; it doesn't forward the debate or change minds. That's all I'm saying, and that's why you don't see me post my opinion.
I will tell you how to fix it, sir.
Posted by stevieb294 on 23rd of Jun 2016 at 12:54 pm
With good, logical economics that has been proven to work within this CAPITALIST society many times in the past and are being ignored due to politics today... Yes, some people ARE economic idiots, sir
Look, man, I don't hate
Posted by frtaylor on 23rd of Jun 2016 at 01:06 pm
Look, man, I don't hate capitalism, and I am all for folks having opinions. But pounding the table gets us nowhere. Don't sweat it too much - I am not angry with you or anything like that (no need to go with the whole "sir" thing, I'm sure we could have a great time shooting some pool, etc.), I just find it beside the point on a trading site.