One of the infinite Tyler Durdens over at ZeroHedge provides us with a bang-up account of why Janet Yellen needs to go back on her meds . . .
Stockman Slams "Simple Janet"'s Incoherent Babble
. . . right now!
"Listening to even a small portion of Simple Janet’s incoherent babble makes very clear that the nation’s central bank is well and truly impaled on its own petard. According to the dictionary, the latter term refers to...
...a small bomb used for blowing up gates and walls when breaching fortifications. It is of French origin and dates back to the 16th century. A typical petard was a conical or rectangular metal device containing 2–3 kg (5 or 6 pounds) of gunpowder, with a slow match for a fuse."
I always thought it meant jockstrap, ok, I jest.
The article is worth a read, it is short, and pretty thorough. Yellen made a mistake last year raising the rate. But as the article so clearly establishes, the rate is completely artificial. We need a return to serious, thoughtful, non-keynesian economic policy. Until that happens expect negative economic outcomes, recessions, and imperceptible "recoveries." Boy howdy, I can hardly wait!