Yellen Confirmed as Fed Chair

[lektrode]

Re: PC Roberts: "it blows the mind"

"This is not normal. What will they do next? I don’t know.”

as per usual, mr don - this looks like a riveted-to-the-screen item - but hafta git, so will save for later

always like to hear what PCR has to say - he might be the only one left who knows (and will talk about) where all the good bones are, ie: 'where all the bodies are buried'
(sides metalman ;)

[verdo]

Re: Yellen Confirmed as Fed Chair

Love the picture that accompanied this article
http://www.streetinsider.com/Fed/Fed...s/8894371.html

haha, that was awesome. Tbh I do think yellen is less of a banker puppet than Bernanke but that doesn't mean she wont follow the status quo anyways

I just bought Eric's book on the ibook store, as I think its a great time to start reading it. Gold is around those 2010 levels when the book was released, so I'm looking forward to diving into it

[BK]

Re: Yellens 2005 Commentary on Housing - if a bubble popped

Just another indicator that the men/women in charge are clueless. Here is what Yellen thought a popping of the real estate bubble might do to the US Economy:

"In answer to the first question on the size of the effect, it could be large enough to feel like a good-sized bump in the road, but the economy would likely to be able to absorb the shock.. For example, a reversion to the long-run price-rent ratio would appear to represent a shock that is only about half the size of U.S. stock market collapse in 2000 and 2001.

In answer to the second question on timing, the spending slowdown that would ensue is likely to kick in gradually, because it mainly affects household wealth. That would give the Fed time to cushion the impact with an easier policy."

http://www.frbsf.org/our-district/pr...policy-london/