Wall Street is evidently so desperate for news with which to manipulate stocks higher that the broad averages seem frozen in place awaiting Friday’s payroll numbers. The data is contrived, massaged and ultimately worthless, but it probably has more value and integrity than anything that comes out of Yellen’s mouth. She’s been talking up a December rate hike so stridently lately that one might think she actually believes it’s going to happen. When 2105 ends with no rate hike, will we regard her as having been delusional, or merely disingenuous? Regardless, it’s sad to think that at some point in her young life, Ms. Yellen evidently realized that “managing expectations” was her calling in life. Say this for Alan Greenspan, he at least wanted for a while to be a professional saxophone player rather than a dismal scientist.
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Greenspan would have looked good wearing a beret and a pencil thin moustache and a tiny goatee driving a jag to his next session.
We are so far off the economic map now, that the people who are in charge at the Fed can’t keep their stories straight.
Very much the same as the Global Warming/Climate Change propaganda cheer leaders.
In those two examples, and in almost all areas of Government now, the Reich Ministers in charge are beginning to channel Pompey the Great from two thousand years ago.
When Pompey was mopping up in Sicily after the Sulla/Marius civil war, the citizens of some city there complained to him that what he was doing was “Illegal” under Roman law.
Pompey laughed out loud at them and said, “Stop quoting the law to us, we carry swords!”
So, updating that sentiment, today, more and more, the Reich Ministers of the US Government are saying to anyone complaining about things that make no sense……………
“Stop quoting the facts to us, we carry swords!”
Just watch any White House Q+A Press Conference to see this in action!
That is how far we have fallen.
That is how much the State has lost its mind!