Janet Yellen: Monetary Arsonist——–Armed, Dangerous And Lost
. . . so I will let David Stockman take this round.
I am still recovering from my shock that Greenspan turn out not to be the classical liberal he advertised but a Keynesian free money acolyte. Deer in the Headlights Janet is much less than Greenspan, and we are likely at the end of the Feds ability to significantly drive the money supply. As Stockman says, it's the debt stupid! QEInfinity, money pumping, Fed balance sheet padding, none of it will work much longer, the debt is too big, and as Japan found out, once the debt gets too big, you are well and truly fuster clucked.