Monday, July 18, 2016

"Janet Yellen Sounds Like
A Fumbling Idiot No Matter What She Does"
FRA's Gordon T.Long* & Alhambra's Jeffrey Snider discuss earnings, the Chinese Yuan, Japanese Yen & the falling credibility of central banks .. "It is no doubt that earnings have been under-performing .. How long can buybacks continue to support a market which is standing on a fundamentally flawed premise?" .. “Policy makers and economists have simply run out of ideas." .. Desperation is a big role of why markets are reevaluating central banks. If we go back 20 years where Alan Greenspan was a genius and he didn’t even do anything, all he did was talk and he made a career out of not talking. No matter what he did he was taken as a genius. Whereas 20 years later, Janet Yellen sounds like a fumbling idiot no matter what she does. All her actions come across as desperate because the credibility has been blown away. The Fed has been forced into action and by being forced into action it has only highlighted what the Fed can’t do .. 27 minutes

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