Quote of the day—Janet Yellen

Would I say there will never, ever be another financial crisis? … 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.

Janet Yellen
Federal Reserve Chair
June 27, 2017
Yellen: I Don’t See a Financial Crisis Occurring ‘In Our Lifetimes’
[I wonder, given the current state of things, if she would like to update that assessment. Or is that that she has a rather low expectation of our lifetimes?—Joe]

8 thoughts on “Quote of the day—Janet Yellen

  1. Two thoughts…

    First, dated 27 June 2021? 2020, or Jan ’21?

    Second, if she actually believes that (as opposed to it being something she thinks she needs to say for confidence-building reasons), then we are doomed to another crisis. Because that attitude – arrogant overconfidence – is how you get crises.

    We’ve been having one every 10 years or so for a while now. For them to sudden stop happening would be … surprising.

  2. Let’s pick out the qualifiers and caveats;

    “Would I say?”
    “Probably”
    “But”
    “I do think”
    “I hope”
    “and I don’t believe”

    With that many qualifiers, the subjects are irrelevant. It’s the art of being non-definite. The art of saying nothing while noises are spewing from your mouth.

    Translated into clear English it means; “Blah blah blah…look at me, I have title and what I do is not your business. I don’t answer to you.”

    Never mind the overriding question of whose business it is to define, provide, and then manipulate our means of exchange, the answer to which negates all of the Janet Yellens of the world, and all their earthly masters, and partners, entirely.

    • Classic Fed-speak, as practiced by most of the people in that bureaucracy. It’s what they do to drive home the fallacious belief they aren’t answerable to anyone.
      The Constitution of course says otherwise, but then again very few people in government pay any attention to the Constitution.

  3. If Janet said it probably wasn’t going to happen. Git your money out of the bank.
    ‘Cause the only thing the government loves more than lying, is stealing. Then lying about who the thieves are.
    Just like the “Reichstag Riots” a couple of weeks ago. The “Great reset” will be necessary because basement day traders destroyed the whole market place and we have to start over!
    But in the mean time; Bitch! Where’s my money?!!!

  4. I find it more indicative that she was asked that question at all, or brought it up if she hadn’t been asked.

    • Especially if she brought it up all by herself.
      It is almost an axiom of the speech of con men and serial killers that at some time in the pitch they give to win the victim’s confidence and trust, they say something unasked that reveals the true motives of the speaker. Supposedly Ted Bundy would say something like, “I’m harmless, I’m safe, you can trust me, come over here, It’s ok.”
      They’ve been loading the money supply for so long, and they must know that, given that there is a two-year lag between money supply growth and inflation, SOMETHING contrary to the long-term prosperity of the country is bound to happen sooner rather than later.

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