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IPFS News Link • Inflation


•, Jeff Berwick

It's impossible to decipher anything Ramblin' Joe mumbles  – aka Misleader of the Free World, aka the Face Of Russian Dementia Care

An athlete, reporter, or celebrity 'suddenly' collapses (double down if they had shared some virtue signalling Got-My-Shot tweet)

Jim Cramer gets it wrong

U.S. Treasury Secretary Janet Yellen tells big whoppers, or recants accidental truths

For example, in May 2021,  Janet Yellen said "It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat, even though the additional spending is relatively small relative to the size of the economy."

A few days later, she recanted that rare moment of accidental truth, saying she does not anticipate that inflation would be a problem for the U.S. economy and that any price increases would be transitory because of supply chain shortages and the rebound in oil prices to pre-pandemic levels.

"If anybody appreciates the independence of the Fed, I think that person is me," Yellen said. "I don't think there's going to be an inflationary problem. But if there is, the Fed will be counted on to address them."

Nothing to worry about, just a little "transitory" inflation that will settle by 2022.

Rewind a bit to 2017 when she said there will never again be a financial crisis in "our" lifetime! 

And forward to a few days ago, when she said they weren't going to bailout the banks, but then two hours later, bailed them out. (My mistake, I've been told by the MSM that loan forgiveness and extraordinary interventions are not the same as bailouts)