Thursday, November 14, 2013

Janet Yellen – The Joke is on You

Every so often events in financial markets we get a few good jokes to laugh at and today is Janet Yellen’s Senate Banking Committee confirmation hearing. There are little doubts that she will be confirmed which would make her the first female Federal Reserve Chief. For starters, who cares if she is the first female or not! It really does not matter, but it does show the narrow minded thought pattern of the general public who will make a big deal out of it.

Do you guys remember when the first half-white socialist was allowed to run an administration?

Yes, he is still in office. The media frenzy was terrible and nobody cared about merits and qualifications. The moronic media outlets which support the democRATS claimed a victory on racism and ignored that they only fueled racism with their pathetic coverage and currently the US has not been more divided across every line you can possible draw since the pre-Civil War era.

Do you know when racism has been eliminated or at least redcued?

When nobody cares about the skin color of the person in the White House and people simply refer to the person as President. The same holds true about gender, religion and heritage inequalities. When dumb media outlets and their even dumber followers, readers and viewers stop pointing out those things we have truly taken a step in the right direction.

Now, let us get back to the soon to be new joke at the helm of the Federal Reserve. Janet Yellen may be excited and happy with a certain itch in the wrong place in order to get started, but I am wondering if anyone will point out to her that she was the second choice and the only reason it is her sitting in front of a few selected Senators is because the primary choice withdrew his nomination.

Picking Janet Yellen is nothing more than picking the best choice out of the terrible candidates who would even consider an appointment by Mr. Dumbama to head the Federal Reserve. The Septic Tank, Ben Bernanke, will leave a toxic mess behind which nobody wants to touch. Bernanke’s inability to create a connection between two function brain cells led to his ouster as he was essentially fired. Many have asked him to return back to teaching at Princeton where he can prep the next generation of failures and to leave big boy business to the big boys where he clearly does not belong.

I have had long discussions with my colleagues about the next butt monkey who will get a chance to display extreme stupidity when it comes to real world economic principles and Janet Yellen was the second best choice. It must really suck a very big magic wand to know that you were second choice and not sophisticated enough to understand that accepting the nomination will put you on the world stage where you will show how well the system has educated you towards total failure.

Yellen lacks any type of fiscal intelligence and equity markets cheer a dovish and incapable Fed Chief as long as stimulus will keep flowing and take away the ground they stand on. At some point you have to pay the piper and the bill won’t be bearable by the US economy.

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