Best of the Week
Most Popular
1. 2019 From A Fourth Turning Perspective - James_Quinn
2.Beware the Young Stocks Bear Market! - Zeal_LLC
3.Safe Havens are Surging. What this Means for Stocks 2019 - Troy_Bombardia
4.Most Popular Financial Markets Analysis of 2018 - Trump and BrExit Chaos Dominate - Nadeem_Walayat
5.January 2019 Financial Markets Analysis and Forecasts - Nadeem_Walayat
6.Silver Price Trend Analysis 2019 - Nadeem_Walayat
7.Why 90% of Traders Lose - Nadeem_Walayat
8.What to do With Your Money in a Stocks Bear Market - Stephen_McBride
9.Stock Market What to Expect in the First 3~5 Months of 2019 - Chris_Vermeulen
10.China, Global Economy has Tipped over: The Surging Dollar and the Rallying Yen - FXCOT
Last 7 days
Does Fed Know Something Gold Investors Do Not Know? - 21st Mar 19
Gold …Some Confirmations to Watch For - 21st Mar 19
UKIP No Longer About BrExit, Becomes BNP 2.0, Muslim Hate Party - 21st Mar 19
A Message to the Gold Bulls: Relying on the CoT Gives You A False Sense of Security - 20th Mar 19
The Secret to Funding a Green New Deal - 20th Mar 19
Vietnam, Part I: Colonialism and National Liberation - 20th Mar 19
Will the Fed Cut its Interest Rate Forecast, Pushing Gold Higher? - 20th Mar 19
Dow Jones Stock Market Topping Pattern - 20th Mar 19
Gold Stocks Outperform Gold but Not Stocks - 20th Mar 19
Here’s What You’re Not Hearing About the US - China Trade War - 20th Mar 19
US Overdosing on Debt - 19th Mar 19
Looking at the Economic Winter Season Ahead - 19th Mar 19
Will the Stock Market Crash Like 1937? - 19th Mar 19
Stock Market VIX Volaility Analysis - 19th Mar 19
FREE Access to Stock and Finanacial Markets Trading Analysis Worth $1229! - 19th Mar 19
US Stock Markets Price Anomaly Setup Continues - 19th Mar 19
Gold Price Confirmation of the Warning - 18th Mar 19
Split Stock Market Warning - 18th Mar 19
Stock Market Trend Analysis 2019 - Video - 18th Mar 19
Best Precious Metals Investment and Trades for 2019 - 18th Mar 19
Hurdles for Gold Stocks - 18th Mar 19
Pento: Coming QE & Low Rates Will Be ‘Rocket Fuel for Gold’ - 18th Mar 19
"This is for Tommy Robinson" Shouts Knife Wielding White Supremacist Terrorist in London - 18th Mar 19
This Is How You Create the Biggest Credit Bubble in History - 17th Mar 19
Crude Oil Bulls - For Whom the Bell Tolls - 17th Mar 19
Gold Mining Stocks Fundamentals - 17th Mar 19
Why Buy a Land Rover - Range Rover vs Huge Tree Branch Falling on its Roof - 17th Mar 19
UKIP Urged to Change Name to BNP 2.0 So BrExit Party Can Fight a 2nd EU Referendum - 17th Mar 19
Tommy Robinson Looks Set to Become New UKIP Leader - 16th Mar 19
Gold Final Warning: Here Are the Stunning Implications of Plunging Gold Price - 16th Mar 19
Towards the End of a Stocks Bull Market, Short term Timing Becomes Difficult - 16th Mar 19
UKIP Brexit Facebook Groups Reveling in the New Zealand Terror Attacks Blaming Muslim Victims - 16th Mar 19
Gold – US Dollar vs US Dollar Index - 16th Mar 19
Islamophobic Hate Preachers Tommy Robinson and Katie Hopkins have Killed UKIP and Brexit - 16th Mar 19
Countdown to The Precious Metals Gold and Silver Breakout Rally - 15th Mar 19
Shale Oil Splutters: Brent on Track for $70 Target $100 in 2020 - 15th Mar 19
Setting up a Business Just Got Easier - 15th Mar 19
Stock Market Elliott Wave Analysis Trend Forercast - Video - 15th Mar 19
Gold Warning - Here Are the Stunning Implications of Plunging Gold Price - Part 1 - 15th Mar 19
UK Weather SHOCK - Trees Dropping Branches onto Cars in Stormy Winds - Sheffield - 15th Mar 19
Best Time to Trade Forex - 15th Mar 19
Why the Green New Deal Will Send Uranium Price Through the Roof - 14th Mar 19
S&P 500's New Medium-Term High, but Will Stock Market Uptrend Continue? - 14th Mar 19
US Conservatism - 14th Mar 19
Gold in the Age of High-speed Electronic Trading - 14th Mar 19
Britain's Demographic Time Bomb Has Gone Off! - 14th Mar 19
Why Walmart Will Crush Amazon - 14th Mar 19
2019 Economic Predictions - 14th Mar 19
Tax Avoidance Bills Sent to Thousands of Workers - 14th Mar 19

Market Oracle FREE Newsletter

Stock Market Trend Forecast March to September 2019

Janet Yellen Just Said The Most Ridiculous Thing We’ve Heard All Year!

Interest-Rates / US Interest Rates Jul 02, 2017 - 07:40 AM GMT

By: Jeff_Berwick

Interest-Rates

Of all people, the last person you should ever ask about what is going to happen in the economy is a central banker or a Keynesian economist.

They are, after all, communists trying to centrally plan the economy. Commies are always clueless about economics.

And, their track record of predicting the economic future is almost perfect in that they almost always say “this time things are different” just moments before another crash happens.


In September of 1929, Keynesian Yale Economist, Irving Fisher, said, “Stocks have reached a permanently high plateau.”

Less than two months later, the most devastating stock market crash in US history occurred along with a 12-year depression.

More recently, Ben Bernanke, in 2007, said, “Our assessment is that there's not much indication at this point that subprime mortgage issues have spread into the broader mortgage market, which still seems to be healthy.”

And he went on to say, “The global economy continues to be strong, supported by solid economic growth abroad. U.S. exports should expand further in coming quarters. Overall, the U.S. economy seems likely to expand at a moderate pace over the second half of 2007, with growth then strengthening a bit in 2008 to a rate close to the economy's underlying trend.”

Then within weeks, the biggest housing crash in US history occurred along with the biggest stock market collapse of all time.

And, now, Janet Yellen has come out with a shockingly moronic statement, saying, “Would I say there will never, ever be another financial crisis? You know probably that would be going too far, but I do think we're much safer and I hope that it will not be in our lifetimes and I don't believe it will be.”

Well, it is either moronic, or she is outright telling us that the US will soon be entering into hyperinflation.
Let’s analyze what she said.

First, she was speaking without a teleprompter, so it’s possible she was off her meds today and was just rambling and making stuff up at random… because a lot of what she said in that interview was really meaningless. But, Greenspan was a master of that, so maybe she is learning Greenspeak.

But, her statement that she doesn’t think there will be another financial crisis in our lifetimes needs to be considered.

At first, I thought she meant, in “her” lifetime. And, being 70 years old my first thought was maybe, hopefully, she has cancer and was going to die soon.

But, she didn’t say “her” lifetime, she said in “our” lifetimes. What’s that even supposed to mean? Children alive today should expect to live at least 70 years. Or longer. Did Janet Yellen really say that she doesn’t believe we’ll have a financial crisis in the next 70 years??

There was one less than a decade ago in 2008. And, almost every metric is far worse now.

US government debt has doubled since then to $20 trillion. The stock market is at all-time highs having nearly tripled since the lows in 2009.

Well, if Janet is claiming the banks are so solid now, their capital to assets ratio must have gotten much better since 2008, right?

Hmm, it’s gotten worse. And don’t forget we are nearing the end of the nearly 40-year long bond bull market.

So worldwide government debt has skyrocketed, stocks are at all-time highs, the bond bubble is close to popping and banks are leveraged more than they were during the last crisis in 2008/2009.

And this data makes Ol’ Yellen quite comfortable in predicting that we’ve got 70 years of smooth sailing ahead?

Wow.

So, really, there are four possible reasons she said that.

#1 is she accidentally took an extra handful of Prozac that morning and she just kinda went a bit loopy.

#2 is that her and all her communist economists got together and tried to make a prediction… and just like almost every other central bank and Keynesian economics prediction in the past… it is almost exactly wrong at almost the exact time when things fall apart.

#3 is that her handlers told her to say it because they love giving the public the exact wrong info at the exact right time and think it is funny that a lot of people will be trapped in the stock market and banks just as they pull the plug on the entire financial system.

Or, #4, is that the Federal Reserve has already planned to go into hyperinflation in the event of any crises which would technically save the banking system from a “crisis” but leave all bank account holders with worthless dollars.

Now that I look back on all four options, I actually think all four could be correct.

If that is the case, Yellen saying there won’t be a crisis for at least 70 years should be all the warning you need to begin to prepare for a crisis to happen imminently.

Cryptocurrencies have been skyrocketing, and some people are suggesting that it is because a lot of the smart money is preparing for a complete financial and banking collapse to begin soon.

This could be the case as I have met many Wall Streeters who’ve told me that this is what they are doing.

It could also be the case that the cryptos are the recipient of some of the inflation the Federal Reserve and other central banks have been pumping into the economy.

But, whatever the case, cryptocurrencies are certainly one way to protect yourself from a banking crisis. So, if you don’t know enough about cryptocurrencies yet, please check out my free four-video webinar HERE.

And, as well, I want to give away our book, Getting Your Gold Out Of Dodge, for free to you today to make sure you have some of the basics to prepare for the coming collapse. You can get it free, for a limited time only, HERE. It normally sells for $44.95, but we want to help as many as possible to survive the coming financial crisis.

Because if Yellen says there won’t be a financial crisis for at least 70 years, then that is all the evidence you need to know that we are just weeks or months away from the next big crisis which could leave your bank collapsed or the dollars in your account nearly worthless.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2017 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules