Skip to comments.Yellen: Economy Still Needs Extraordinary Support
Posted on 03/31/2014 4:40:22 PM PDT by mykroar
Janet Yellen REUTERS
The monetary policies crafted and initiated by the Federal Reserve are intended to help Main Street rather than Wall Street, Fed Chair Janet Yellen told an audience of grassroots community organizers in Chicago on Monday.
In an address that employed a handful of devices reminiscent of a political speech, Yellen made her case for a dovish approach toward raising interest rates.
Yellen singled out the plights of several individuals who she named and whose situations she described in detail to illustrate labor markets are healing slowly and prolonged accommodative policy is needed to ensure labor conditions improve, even as many are calling for higher interest rates to ward off inflation.
Although we work through financial markets, our goal is to help Main Street, not Wall Street, Yellen said, in stark populist terms.
(Excerpt) Read more at foxbusiness.com ...
Yeah, but the only street benefiting is Wall Street and wealthy types. Everyone else has been screwed.
Crony capitalists rejoice.
The lies get more blatant with each successive appointment.
Yeh, Hey Janet nobody but Wall Street has anything left.
HEY YELLEN! relax...FATCA is only a few months away...
“The monetary policies crafted and initiated by the Federal Reserve are intended to help Main Street rather than Wall Street”
Buy Giving Wall Street all your Money and by printing as much as we can get away with. And Never Ever prosecute anyone for the FRAUD if they are a coveted member of the Too Big to Fail crowd.
True. It also continues to allow extremely marginal credit risks to obtain 30 year rates below what an 800 plus FICO could get in 2003 on a 15.
Well I never...
Actually, I always...
The economy is brain dead and on life support. Pull the plug on the printing presses and it is all over. It is over anyway.
ELIMINATE the FED
Socialism Is Legal Plunder - Bastiat
How to Identify Legal Plunder
But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them, and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.
Then abolish this law without delay, for it is not only an evil itself, but also it is a fertile source for further evils because it invites reprisals. If such a law which may be an isolated case is not abolished immediately, it will spread, multiply, and develop into a system.
The person who profits from this law will complain bitterly, defending his acquired rights. He will claim that the state is obligated to protect and encourage his particular industry; that this procedure enriches the state because the protected industry is thus able to spend more and to pay higher wages to the poor workingmen.
Do not listen to this sophistry by vested interests. The acceptance of these arguments will build legal plunder into a whole system. In fact, this has already occurred. The present-day delusion is an attempt to enrich everyone at the expense of everyone else; to make plunder universal under the pretense of organizing it.
Above all, if you wish to be strong, begin by rooting out every particle of socialism that may have crept into your legislation. This will be no light task.
CRONY SOCIALIST CONSTRUCTS
The Fed is legal plunder? How so?
A socialist construct working in conjunction with the U.S.A. (United Socialists of America) devaluing the time of life of the citizens of the republic with debt and devalued fiat.
devaluing the time of life of the citizens of the republic with debt and devalued fiat.
How does the Fed give the citizens debt?
An unaccountable paper factory for socialists who destroy.
But of course they're accountable. Congress could pass a new law adding to or subtracting from their mandate. Or eliminating them completely.
How does the Fed give the citizens debt?
Or eliminating them completely.
How about adding to it?
BIG GOVERNMENT IS CRONY SOCIALISM
Didn’t you get the memo, Toddster
We’re All Socialists Now
Go ahead. Subtract something. ANYTHING. Go ahead. Try it.