To track some personally noteworthy events, observations and thoughts, letting them age and savor/regret them again a long time later.
Thursday, July 3, 2014
Fed Yellen: Another Bubble Blower
Dumb, yet another bubble blower in the Fed. You already know but there is nothing like a public confession. This makes three consecutive Fed chiefs with the same habit. I read this and couldn't finish before it got to my turn in the queue to order lunch today.
Obviously there is no need to read to the end. All of them profess they don't know how to preempt bubbles. What the Fed and Treasury have is plenty of experience sorting out the mess after the bubble have burst. And why not? Each time a bubble burst the world helps to pay for American excess.
Don't try your luck too many times. The world's patience isn't infinite.