Recap of Janet Yellen testifying and Making up BS in House hearing

Here let me throw some catch phrases into this so someone will actually read since the second half of the housing crash is approaching. Pretty soon you're money will be even more worthless as the Fed can't raise interests rates and inflation begins spiraling out of control.

Gold keeps looking better and better right now. Might pickup a few coins every week.

Ok, no need for catch phrases if the economic forecast doesn't catch your attention then you can go back to CNN and anti Trump propaganda.

Recap of Janet Yellen testifying in House hearing

Yellen said the Fed was justified to be careful and cautious about raising interest rates further given the uncertainties facing the economy and mixed readings from the labor markets and economic growth seen this year.”

By growth she means, recession, we are entering a recession. They will have to start printing money again soon.

Perhaps the biggest news was the Fed Chairwoman’s firm rejection of negative interest rates as a potential policy tool in the event of a downturn in the economy.

She can deny it all she wants it's coming. The markets are bracing for the president election and massive potential change.

Markets took Yellen’s first day of testimony in stride. Investors don’t think the Fed will hike rates until December.

Buy gold.

Then when they start printing money the prices will skyrocket. Divest from stocks and put your money into gold and silver.

Breaking economic news: Sales of previously owned homes increased in May to the highest level in nearly a decade.

Who's buying those homes? Not Millenials I promise you that.

Yellen says labor force participation has been flat over the past year and this is a sign of strength in the labor market.

Not flat, declining! God these people are disconnected from reality!!

“I am sorry, we are not trying to benefit the rich,” Yellen replied. Fed policy has fostered 14 million jobs since early 2010, she noted. Middle-class Americans have also benefited from rising home prices, Yellen said.

Sooooo... how could the numbers not reflect in the labor force participation rate... don't you think 14 million more people working would show in the participation rate?

Something stinks here folks!!!!!!!!

Yellen repeats that negative rates would not be in the Fed’s tool-kit to combat a potential economic downturn.

It's not a potential downturn it's the second half of the 2008 housing crisis that they put the breaks on with the bailouts!!!! Should have just let the house of cards collapse we'd be in a better situation by now if they did!

Seems like they left out the stupid questions the politicians(idiots) asked her what she was going to do about income inequality and low employment in the black community.

I mean is this a cartoon are people really this stupid????

Yes, and somehow the lack of jobs doesn't get blamed on the actual reason IE. NAFTA, CAFTA and the soon to be embraced tpp and tpip. It's purposeful and her lie is within her negation statement regarding "not helping the rich.

a reply to: BlueJacket

How can there be 14 million more people working yet the labor force is still declining?

If you go to the link and read, these are the opinions of Professors of Economy, Directors of Economic think tanks, etc. Some of them are a bit more optimistic, but overall, this is pretty much the general mood.

www.politico.eu...

Could the American economy tank in 2016?

‘Big trouble’

Laurence J. Kotlikoff, a William Fairfield Warren professor and professor of economics at Boston University The country’s greatest economic risk resides in the financial markets as well as the general public
A) learning precisely how broke the U.S. government is,
B) realizing how much money the Federal Reserve has printed since 2007 to pay the government’s bills,
and C) putting A and B together and realizing that the combination of ongoing political stalemate, Enron-type fiscal accounting, fiscal insolvency and a vast ocean of money, sitting in bank reserves and ready to be released into the economy’s blood stream at any moment, spells big trouble—including high inflation (if not hyperinflation) and sky-high interest rates.
This is not hyperbole.
The nation’s fiscal gap (the present value difference between Congressional Budget Office-projected future spending and taxes) stands at $200 trillion. This is our nation’s true fiscal debt, not the mere $13.5 trillion in the hands of the public that successive presidential administrations and Congresses have deemed to put on the books. And were we to see a return to the normal monetary conditions of 2007 (for econ geeks, this means the same money multiplier and the same velocity of money), prices would be 300 percent higher than is now the case. The country’s second greatest risk is from smart machines putting so many people out of jobs or out of good jobs that too few people can afford to buy what those machines make or save enough to maintain, let alone grow, our nation’s capital stock.
When the heads of Amazon and Google salivate over drone delivery vehicles and driverless vehicles, they might think about how many of their customers they will be firing.
The third big problem is our nation’s net domestic investment rate. We are saving next to nothing and, as a result, investing next to nothing. The postwar has witnessed a massive increase in household consumption relative to national income, primarily by older generations whose consumption has been financed by a massive off-the-books generational Ponzi scheme. Our low rate of investment helps explain the fact that real weekly earnings, apart from fringe benefits, are no higher today than they were 50 years ago. The last problem is that we’ve had and can expect to have no real reform of our tax, banking, Social Security, welfare or health care systems, all of which can be quickly fixed. All of these institutions have devolved into making work programs for fatuous bureaucrats. Economists are called dismal scientists for a reason, and the above is about as dismal a picture as one could paint. Unfortunately, it’s all true.

a reply to: DAVID64

As long as we keep giving everything away for free this will continue.

Kick these morons running our government and end the corporate greed paradigm.

a reply to: onequestion

Part time jobs, low wage jobs, so the masses aren't able to take part in the market place

Triple I guess

a reply to: onequestion

The jobs for middle America are going over seas. The economy, is not improving for the vast majority. I am fortunate however the people I do business with have employees workingv2 or more part time jobs just to keep above, or near above water.

Rents and mortgages are through the roof, food carsbetc..as well. So jobs are going up so to speak just to meet the bottom line. It's obvious if you're around 50 and have been a participant in the economy for 30vyears or better.

a reply to: onequestion

Only people trying to hold onto what they have are taking on more jobs, the folks on the dole stay on the dole.

a reply to: BlueJacket

I know I work in a machine shop and a few of the guys I work with have another job.

I can live nicely off 22 an hour but supporting a family?

Not a chance.

a reply to: onequestion

Amen brother, I'm raising a family myself

Pay attention with Brexit actually better reread what Janet Yellen said.

I've been posting about it for the last few weeks.