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The Absurd Notion Of “Transitory” Is Dead
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden on 02/20/2016 – 19:50
Submitted by Jeffrey Snider via Alhambra Investment Partners,
When Janet Yellen testified to Congress last week, she was as usual careful with her words.Alan Greenspan once called it “mumbling with incoherence” but there is very little left to rambling in Yellen’s predicament. Where Greenspan was once the “maestro” and Bernanke the “hero” Yellen is stuck holding the bag, and I think she knows it. In truth, there isn’t the faintest difference between any of them, which is exactly the problem and her source of frustration. The Fed is in grave danger of being unquestionably revealed for the backward, incompetent institution it always was.
As to the recent stumble, it makes for the most uncomfortable juxtaposition between what the Fed did in December and what the economy and markets have continued to do since mid-year last year. To continue on in that contradiction leaves her no choice but to blame again “overseas.”
“Financial conditions in the United States have recently become less supportive of growth,” she told the House Financial Services Committee. “These developments, if they prove persistent, could weigh on the outlook for economic activity.”She meant that convulsions in the stock markets could harm the economy…
The post The Absurd Notion Of “Transitory” Is Dead appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/20/the-absurd-notion-of-transitory-is-dead-2/
