Friday, September 20, 2013

Stockman: Yellen will be just as bad as Bernanke if not worse than even Greenspan


  1. It feels like we've all been forced into a nearly never ending Kafka novel, where the truly insane are in charge of fiscal and monetary policy in which there is no escape.

    Year after year they kick the can, extend and pretend, goosing the markets, jawboning as they go, and engaging in blatant manipulations of housing, stocks, bonds, and commodities. I don't know what you call this, but a "market" it is definitely not.

    Just watching the charts for gold and silver should be enough to provoke hurried investigations by the CFTC. It's as plain as day. But no. We get crickets chirping.

    Which leads me to conclude that there is no one with oversight powers willing to put an end to this madness. We are all passengers on this out of control train that has left the tracks and is now going off a very tall cliff, the impact of which is going to be gruesome.

    I used to think we would suffer some sort of Great Depression style correction, but their policies over the last few decades are so insidiously destructive, that we may look back and wish that we only had to experience that kind of event.

    Instead, I fear we are going to see social unrest this country has never seen before. It's going to be that bad.

  2. Fear not, Steve! Jerry Wolfgang will provide all the answers to our problems.