Breaking News From The Kremlin: Janet “Central Planner” Yellen Warns Of Excessive Asset Valuations
I wasn’t planning any posts today but I can’t pass up this hilarity. Another example of the arrogance of central planners to believe they can tamp down what they believe to be a problem is while maintaining what they believe is not a problem. It isn't small caps or biotech that are bubbles, the entire Wall Street, Washington, Federal Reserve-created monster that is both the U.S. and global economy (empire) are bubbles.
Janet needs to learn a new word. Fungible. Money is fungible. That means her statements today are ludicrous, bureaucratic mumbo jumbo that clearly don’t endear confidence. Instead it reaffirms that the Federal Reserve is wearing an asshat. First they deny they created any bubbles and now they admit they may have created a few.
Fungible simply means the universal “indistinguishability” of money guarantees that all assets impacted by central planners at the Federal Reserve are valued relatively equally. The Fed can’t fix a problem created by political corruption and treason. It is Washington politicians from both parties that have primary blame for destroying the U.S. economy. I’m no big fan of the Fed in its current form but they are simply one of many tools used by Wall Street and Washington to destroy our liberty and enslave us to state violence.
Yellen sees what she believes is a problem in small caps or biotech stocks. But the reality is the Fed, other central banks, private banking crooks, the investor class (renter capitalist) and politicians around the world have induced a global asset bubble of unprecedented proportions. All valuations of all assets are stratospheric. That anyone believes the S&P 500 or Dow is any less a bubble because the PE ratio is lower, doesn’t appreciate the enormity of this global bubble.
As written on here probably more than one hundred times in the last nine years, we are in the biggest financial bubble the world has ever seen. Everything people who support this system believe to be true about economics, society, employment, money, etc is likely to be exposed as nothing more than a self-created tyranny of beliefs. And Janet “Kremlin” Yellen isn’t going to bring parts of that bubble down while maintaining the lofty valuations of others through rhetoric or central planning or monetary policy (because of the fungibility of money). That she believes she can or is even willing to try reeks of systemic incompetence so typical of central planning bureaucrats.
“Power always thinks it has a great soul and vast views beyond the comprehension of the weak; and that it is doing God’s service when it is violating all His laws.” -- John Adams