On Bob Brinker today..

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..he heaped great praise on Janet Yellen, towards the end of his opening monologue.

Bob believes she is doing a "fantastic" job.

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BWWAWAWAWAWAWAWAWAWAWAWA

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WAWAWAWA?

..are you thirsty?

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Do you suppose Brinker is sucking up for a FED job when his show is finally cancelled.

Former Fed Governor Larry Lindsey Nails It——“We’re At The Point Of Absurdity”

by Doug Noland • May 24, 2015
Lawrence Lindsey: “We’re delaying a normalization of rates way, way beyond what is prudent. We have a monetary policy that’s now in place that was adopted for the crisis conditions of 2008 and 2009. This summer we’re going to be getting the seventh year of this recovery. It’s been a lousy recovery, but it’s still the seventh year of a recovery.

That is totally inappropriate. The unemployment rate is essentially at what economists call “NAIRU” [Non-Accelerating Inflation Rate of Unemployment]… When I went to school, you’d be laughed out of the classroom if you said the right interest rate when unemployment rate was five four [5.4%] was zero – it was just the most preposterous thing you could imagine. Or that the Fed should have quintupled its balance sheet in five years.

We’re at the point of absurdity. Maybe it made sense when you had a crisis. It does not make sense now. At some point what is going to happen – and this gets to my eight or nine cataclysmic number [on a scale of 1 to 10] – is that we’re going to get a series of bad numbers – a little higher inflation, higher average hourly earnings or whatever – and the market is suddenly going to say, “Oh my God, they are so far behind the curve that they will never catch up.” And the market is going to force an adjustment on the Fed that will be wrenching. That’s the cataclysmic outcome. If the Fed were to get a little bit ahead of the curve – or even maybe move a little bit closer to the curve – that’s the best we can hope for – we would mitigate that. We would phase into it gradually. And that’s why so much is at stake in the monetary policy that we adopt now…

http://davidstockmanscontracorner.com/former-fed-governor-larry-lindsey-nails-it-were-at-the-point-of-absurdity/

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Bob Brinker likes cops

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"It’s been a lousy recovery, but it’s still the seventh year of a recovery."

Precisely why it is not yet time to raise rates, and precisely why Brinker believes Yellen has been "fantastic."

Yellen could destroy this economy in no time by listening to whatever idiot wrote that.

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Yellen could destroy this economy in no time by listening to whatever idiot wrote that.

Which tells you what about the economy?

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It's certainly disgraceful that the recovery has been so lousy..he's right about that.

It's just that the next move..when to raise rates..is crucial.

You don't just do it because they've been low so long..that would be dumb.

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Yellen could destroy this economy in no time by listening to whatever idiot wrote that.

Which tells you what about the economy?

Of course it's barely growing..that's why this person is being so ridiculous saying we should have already raised rates.

The writer is not an idiot because he believes the economy isn't doing well.

He's an idiot for saying that we should raise rates while it's struggling.

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He's an idiot for saying that we should raise rates while it's struggling.

If you want to say Lindsey is an idiot, you should know something about him.
http://en.wikipedia.org/wiki/Lawrence_B._Lindsey

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He's an idiot for saying that we should raise rates while it's struggling.

If you want to say Lindsey is an idiot, you should know something about him.
http://en.wikipedia.org/wiki/Lawrence_B._Lindsey

Smart people sometimes say wrong headed things.

That article sounded like someone who is angry that Yellen hasn't raised rates .

..so therefore he can't blame her for screwing things up.

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He's an idiot for saying that we should raise rates while it's struggling.

If you want to say Lindsey is an idiot, you should know something about him.
http://en.wikipedia.org/wiki/Lawrence_B._Lindsey

Smart people sometimes say wrong headed things.

That article sounded like someone who is angry that Yellen hasn't raised rates .

..so therefore he can't blame her for screwing things up.

Yellen is between a rock and a hard place. The longer she keeps rates at near zero the more she is destroying the middle class. If she raises rates she will cost the rich hundreds of billions in an instant as stocks and bonds and derivatives crash. She is the proverbial deer caught in the headlights thanks to herself, Bubbles Ben and Easy Al.
The chickens do always come home to roost, eventually.

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What she is doing has nothing to do with any of what you said..concerning the rich OR the middle class.

Her job is to keep the economy moving along and growing, but not too rapidly.

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What she is doing has nothing to do with any of what you said..concerning the rich OR the middle class.

Her job is to keep the economy moving along and growing, but not too rapidly.

Then she is doing a super $hitty job. Real wages of working people has not increased for the last 30 years!

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What she is doing has nothing to do with any of what you said..concerning the rich OR the middle class.

Her job is to keep the economy moving along and growing, but not too rapidly.

Then she is doing a super $hitty job. Real wages of working people has not increased for the last 30 years!

She doesn't do that either.

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If there actually was a recovery the FED could have began raising interest rates back to normal years ago. The fact that they didn't is about all the evidence you need to prove that there wasn't one.

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If there actually was a recovery the FED could have began raising interest rates back to normal years ago. The fact that they didn't is about all the evidence you need to prove that there wasn't one.

Since you think the Fed shouldn't exist, and all they do is harm...would you even know if they were doing a good job?

And what would what "doing a good job" by the Fed even look like to you?

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If there actually was a recovery the FED could have began raising interest rates back to normal years ago. The fact that they didn't is about all the evidence you need to prove that there wasn't one.

Since you think the Fed shouldn't exist, and all they do is harm...would you even know if they were doing a good job?

And what would what "doing a good job" by the Fed even look like to you?

The FED is an illegal, unconstitutional, privately owned association. We're not even allowed to know who owns it.

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If there actually was a recovery the FED could have began raising interest rates back to normal years ago. The fact that they didn't is about all the evidence you need to prove that there wasn't one.

Since you think the Fed shouldn't exist, and all they do is harm...would you even know if they were doing a good job?

And what would what "doing a good job" by the Fed even look like to you?

The FED is an illegal, unconstitutional, privately owned association. We're not even allowed to know who owns it.

Ok, so like I said..you are in no position to know or understand if they are succeeding or failing...doing well or doing poorly.

..and there's nothing to own. They are simply an entity that has been given great power by Congress..sounds rather legal to me.

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Let's say Congress passed a law that privatized the military and gave the contract to an unknown association. Would that be constitutional? Legal?
Or the national parks. Or all federally owned land. Or the federal court system. If not why is it OK for the money?