MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Janet yellen’

Everyday Math Why a New Decade Feels Momentous

Posted by M. C. on December 26, 2019

She is soooo right. It is not real.

The decade does not start until 2021.

WSJ The go to place for money and numbers!

This command of numbers might explain WSJ’s love affair with Janet Yellen.

https://www.wsj.com/articles/why-a-new-decade-feels-momentous-11577376614

The approaching new year feels especially momentous because it marks the beginning of a new decade. Yet in a sense, new years and decades aren’t real;…
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Here's how the market responded to the Fed's decision ...

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Disproportionalities: Whose Fault? – LewRockwell

Posted by M. C. on November 6, 2019

https://www.lewrockwell.com/2019/11/walter-e-williams/disproportionalities-whose-fault/

By

Jews have been awarded 40% of the Nobel Prizes in economics, 30% of those in medicine, 25% in physics, 20% in chemistry, 15% in literature and 10% of the Nobel Peace Prizes. Since the beginning of the 20th century, there have been just over 900 Nobel Prizes awarded. Since Jews are only 2% of the world’s population, instead having 22% of Nobel Prizes, 206, they should have won only two, according to the proportionality vision of justice. There’s an even greater domestic violation of the proportionality vision. Jews are less than 3% of the U.S. population but 35% of American Nobel Prize winners. Several questions come to mind. Does the disproportionately high number of Jewish winners explain why there are so few black or Hispanic Nobel Prize winners? Who’s to blame for ethnic disproportionality among Nobel Prize winners, and what can be done to promote social justice?

Proportionality injustice doesn’t end with the Nobel Prize. Blacks are about 13% of the U.S. population but close to 70% of the players in the National Football League. Blacks are greatly overrepresented among star players and highly paid players. While the disproportionality injustice runs in favor of black players in general, they are all but nonexistent among the league’s field goal kickers and punters. Perhaps the only reason why football team owners are not charged with hiring discrimination is that the same people who hire quarterbacks and running backs also hire field goal kickers and punters. Proportionality and diversity injustice is worse in the National Basketball Association, with blacks being over 80% of the players. Plus, it’s not uncommon to watch college basketball games and see that 90 to 100% of the starting five players are black.

Most readers know that I teach economics at George Mason University and have done so for nearly 40 years. However, that doesn’t mean the field of economics doesn’t have its problems. Many see economics as neither a welcoming nor a supportive profession for women or blacks. Former Federal Reserve Board Chair Janet Yellen, in addressing a Brookings Institution audience said: “Within the economics profession, women and minorities are significantly underrepresented. And data compiled by the American Economic Association’s Committees on the Status of Women in the Economics Profession and the Status of Minority Groups in the profession show that there has been little or no progress in recent decades. Women today make up only about 30 percent of Ph.D. students. Within academia, their representation drops the higher up one goes in the career ladder. The share of Ph.D.s awarded to African Americans is low; and it has declined slightly in recent decades.” Yellen says that diversity in economics is a matter of “basic justice.”

Had I been in the audience, I would have asked Yellen whether there’s basic justice in the nursing field, where less than 10% of nurses are men. What about the gross lack of proportionality in incarceration? According to 2015 figures released by the Bureau of Justice Statistics, the overall U.S. prison and jail population is 90.6% male and 9.4% female. The only way that I see to remedy such a gross disproportionality injustice is to either incarcerate more female prisoners or release male prisoners.

Back to Janet Yellen: It is pathetic and professionally incompetent that she can ignore decades of research — some of it by female researchers — that shoots down the idea that disparities prove discrimination. Moreover, if one carries the notion that disparities prove discrimination far enough, they’d look like true fools. According to a study conducted by Bond University in Australia, sharks are nine times likelier to attack and kill men than they are women. Despite the fact that men are 50% of the population, and so are women, men are struck by lightning six times as often as women. Of those killed by lightning, 82% are men. One can only wonder what social justice warriors would do about these and many other disproportionalities.

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Yellen’s Self-Serving Assessment: Fed is “Doing Pretty ...

 

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Janet Yellen calls stock market, real estate valuations ‘high’ in last interview before exit as Fed chief

Posted by M. C. on February 6, 2018

Yellen and CNBC are just figuring this out now! Or are they just bringing it up now…that they don’t like the Prez?

This overvaluation started right after the bailouts from the previous Fed generated overvaluation.

“Well, I don’t want to say too high. But I do want to say high,”  David Stockman’s comment that Janet Yellen is a simpleton is confirmed, again.

https://www.cnbc.com/2018/02/05/yellen-hard-to-tell-if-market-is-in-a-bubble-but-valuations-high.html

CNBC Fed Survey: Janet Yellen’s tenure at Fed graded a ‘B’  

Janet Yellen ended her long career at the Federal Reserve with concerns over how high the stock market has surged under her watch.

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The Federal Reserve May Secretly Want to Sink the Record-Breaking Stock Market

Posted by M. C. on February 6, 2018

Too bad this havoc wrought by the FIB and the Fed could have been avoided by electing Hillary. We would be safely at full blown war with Iran and Syria. We would be spending even more to prepare for war with Russia and China. Taxes, medical insurance premiums and the market would be would be up even more.

Talk about servers and intelligence agencies influencing elections would be safely squashed.

The pentagram, military arms producers, CIA, FBI, in other words everyone that counts, would be happy.

https://www.thestreet.com/story/14309564/1/federal-reserve-system.html

Despite its independence, the Federal Reserve may quietly want a bear market that takes down a president that loves tweeting about the stock market.

Peter Schiff, CEO of Euro Pacific Capital, told TheStreet the “[Janet] Yellen put” in the markets could expire under President Trump. “I don’t know if the Fed has much love for Trump,” he said, adding that the Fed had the markets’ back during the Obama Administration. Read the rest of this entry »

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Thank You, Alan Greenspan, Ben Bernanke and Janet Yellen

Posted by M. C. on August 13, 2017

A real estate bubble, just like last time.

Caused by fed easy money, just like last time.

http://feedproxy.google.com/~r/economicpolicyjournal/YZSb/~3/4joxeFdyrGk/thank-you-alan-greenspan-ben-bernanke.html

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Get Rid of the Fed | The Daily Bell

Posted by M. C. on February 12, 2017

http://www.thedailybell.com/news-analysis/get-rid-of-the-fed/

For Ms. Booth, “slow-moving” Fed economists will inevitably miss what’s really going on and substitute low interest rates for other solutions. Fed Chairwoman Janet Yellen and former Fed leader Ben Bernanke are two of the slow-moving acadmics that come in for criticism.

End the Fed. Hmmm… It has a familiar ring. It is a good idea but someone with a Texas accent said it first.

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Yellen And The Feds Are Stumped

Posted by M. C. on February 25, 2016

2008 all over again for the same reasons caused by the same people.

As usual the Fed does not kinow what is happening nor what to do about it.  The difference now is that they are admitting it.  See Gerald Celente’s post here.

WASHINGTON — Federal Reserve officials threw up their hands in January, deciding that they could not decide whether market turmoil would impede domestic economic growth.

The Fed in recent years has issued an assessment of its economic outlook after each meeting… an official account, published on Wednesday after a standard three-week delay, makes clear that Fed officials simply did not know what to say.

“Most policy makers thought that the extent to which tighter conditions would persist and what that might imply for the outlook were unclear, and they therefore judged it was premature to alter appreciably their assessment of the medium-term economic outlook,” the meeting account said. (The New York Times, 18 February 2016).

Threw up their hands? Did not know what to say? Outlook unclear? Premature to judge even in medium-term economic outlook… let alone long-term?

Is the Federal Reserve stupid, or playing stupid?

David Stockman (Reagan’s budget manager) recently called Janet Yellen a simpleton.  Read the rest of this entry »

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WSJ Loves Its Fed Enabler – Readers Don’t

Posted by M. C. on September 26, 2015

These are 25 Sep 15 comments from Wall Street Journal readers after Yellen says she will raise rates ‘later this year’.

Hopefully these same readers will realize the WSJ part of the problem.

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After 7-8 days down, this seems to be just a bounce….

How ridiculous. We can’t raise rates now but can in 3 months? What is going to be different then?

And look at this trollish hack of a human being. She doesn’t even possess enough physical strength to stand up and talk for an hour, but she’s strong enough to lead the Fed? Why on earth do we give power to such weak bureaucratic hacks? Our government is littered with such women now, little fireplugs of nothingness, flabby, sagging, flaccid and weak. Yet they have so much power.

What happened to my nation? I don’t recognize this country anymore. 9 years of decreasing rates, 7 years of ZIRP – if anyone ever told you in before 2008 that this was “good” policy, you would have been laughed out of the room. But now I’m supposed to clap like a seal and declare victory with the basketcase of an economy we now have? If they manage to raise rates by .25 I’m supposed to get in line and say Keynesian economics work?

Our society is now Orwellian. We are doomed.  Read the rest of this entry »

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Janet Yellen – Fed Central Planner

Posted by M. C. on September 19, 2015

The hallmark of free market theory is that no one person or group (central planners) can decide how to allocate resources. Only the actions of consumers can put a value on any given resource. Resources, finished products even the dollar can only have its value determined by aggregate demand. The opposite of this is central planning. The most glaring example of central planning was the Soviet Union. Read the rest of this entry »

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Yellen-The New Inmate Running the Fed

Posted by M. C. on February 14, 2014

I have heard it said that Janet Yellen, new head of the federal print shop, is like Bernanke on steroids.

My take is she does what is expected, believes what she is expected to believe and won’t do anything that may cause her new power to be taken.

More like a submissive on a leash than on steroids.  None the less her recent pronouncements are just so Bernanke.

Quantitative easing is such a success.  Except at the mere utterance of the word “reduce” the stock market takes a 300 point dump.  Oh ye of little faith. Read the rest of this entry »

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