Freedomshift

As if there was any surprise that Yellen was fundamentally an uber dove, she just confirmed it. Here are the key highlights from her speech from Bloomberg. YELLEN SEES `CONSIDERABLE SLACK' IN ECONOMY, LABOR MARKET YELLEN SAYS QE TAPER DOESN'T MEAN REDUCED STIMULUS COMMITMENT YELLEN SAYS ECONOMY, JOB MARKET ` ARE NOT BACK TO NORMAL HEALTH ' YELLEN SAYS FED SHORT OF REACHING EMPLOYMENT, INFLATION GOALS YELLEN SAYS POST-CRISIS LABOR MARKET STRENGTHENED CONSIDERABLY YELLEN SAYS FED TAKES ITS 2% INFLATION GOAL `VERY SERIOUSLY' YELLEN SAYS DECLINE IN JOBLESS `GRADUAL BUT REMARKABLY STEADY' YELLEN SAYS ECONOMY NEEDS EXTRAORDINARY SUPPORT FOR `SOME TIME' Read more: here

One wonders how deep a hole the United States and the EU are going to dig for themselves in Ukraine. It was, of course, U.S. and EU leaders — and their media acolytes — who caused the problem we face today by intervening on behalf of self-styled “democrats” in Kiev who without foreign intervention could not have overthrown the Ukrainian president. It is getting to be that any half-baked gaggle of protestors at any location on the planet need only to chant the word “democracy” and the West will come running to their aid with diplomatic assistance, money, and a fierce disregard for either the target nation’s sovereignty or regional stability. Indeed, it may well be that the whole Ukraine protest movement was primed for action by funds, advisers, and computer systems paid for by Hillary Clinton’s State Department in a program similar to those she ran in several Arab countries. The difference in the Ukraine intervention from others the West has conducted is that the termin...

Is anyone surprised that the poorest and least credit worthy of Americans are being saddled with piles of debt in order to buy new cars? It’s not enough that a generation of our citizens will toil pointlessly to pay off more than $1 trillion of student loans, we may as well add some other form of debt burden on top of it. It’s hard to even imagine this is happening so shortly after the last credit bubble train wreck, but happening it is. Creative ways for people to purchase cars they can’t afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled:  Just Keep Dancing: Introducing the 97-Month Auto Loan . Well the dancing has continued, and now we have Americans borrowing at all-time record levels to buy cars. USA! USA! Read more: here