Yellen: “No New Financial Crisis in Our Lifetimes” (Until The Fed Removes The Stimulus?) Psych!

John Maynard Keynes commented in March 1929: “We will not have any more crashes in our time.” And then the stock market crashed on Black Thursday, October 24, 1929.


Then Federal Reserve Chair Ben Bernanke told Americans on March 28, 2007 that “the subprime crisis was likely contained.” And then mortgage delinquencies skyrockted.


And now Federal Reserve Chair Janet Yellen has proclaimed no new financial crisis in ‘our lifetimes’


Except perhaps when (and if) Janet Yellen and Stanley Fischer remove the trillions in Fed Asset Purchases and Excess Reserves.

I keep waiting for Janet and Stanley to add “Psych!”






Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s