Stocks soar on Larry Summers withdrawal [W:48]

[Moot]

What a wonderful day it was. First, Larry Summers withdraws from consideration to be chairman of the Federal Reserve.....

Larry Summers withdraws name from Fed consideration - The Washington Post

Then the stock market soars world wide on the good news...

Stocks surge after Larry Summers exits Federal Reserve race (+video) - CSMonitor.com

That leaves the only viable and qualified person left for the job..Janet Yellen. Assuming Obama picks her, she will be the first woman to head the Federal Reserve. I couldn't more happy than if it was my birthday. Oh wait, it was. lol

Janet Yellen - Wikipedia, the free encyclopedia


Yellen's creditentials are impeccable and she truly is the most qualified for the job. If Obama doesn't nominate her, I'll gladly help to get him impeached.

 

[Artevelde]

What a wonderful day it was. First, Larry Summers withdraws from consideration to be chairman of the Federal Reserve.....

Larry Summers withdraws name from Fed consideration - The Washington Post

Then the stock market soars world wide on the good news...

Stocks surge after Larry Summers exits Federal Reserve race (+video) - CSMonitor.com

That leaves the only viable and qualified person left for the job..Janet Yellen. Assuming Obama picks her, she will be the first woman to head the Federal Reserve. I couldn't more happy than if it was my birthday. Oh wait, it was. lol

Janet Yellen - Wikipedia, the free encyclopedia


Yellen's creditentials are impeccable and she truly is the most qualified for the job. If Obama doesn't nominate her, I'll gladly help to get him impeached.

The idea that there is only one "viable and qualified" person for this job is pretty ridiculous.

 

[Moot]

The idea that there is only one "viable and qualified" person for this job is pretty ridiculous.

I wasn't joking.

 

[Artevelde]

I wasn't joking.

Sad for you then.

 

[PirateMk1]

What a wonderful day it was. First, Larry Summers withdraws from consideration to be chairman of the Federal Reserve.....

Larry Summers withdraws name from Fed consideration - The Washington Post

Then the stock market soars world wide on the good news...

Stocks surge after Larry Summers exits Federal Reserve race (+video) - CSMonitor.com

That leaves the only viable and qualified person left for the job..Janet Yellen. Assuming Obama picks her, she will be the first woman to head the Federal Reserve. I couldn't more happy than if it was my birthday. Oh wait, it was. lol

Janet Yellen - Wikipedia, the free encyclopedia


Yellen's creditentials are impeccable and she truly is the most qualified for the job. If Obama doesn't nominate her, I'll gladly help to get him impeached.

I just read up on her. I have a serious problem with her. She has NO business experience whatsoever, nor has she worked that I can tell in ANY privately funded non educational organization. In fact I would hazard to say her background is almost exclusively educational. She's all theory no real world. I am definitely not sold on her.

 

[Artevelde]

I just read up on her. I have a serious problem with her. She has NO business experience whatsoever, nor has she worked that I can tell in ANY privately funded non educational organization. In fact I would hazard to say her background is almost exclusively educational. She's all theory no real world. I am definitely not sold on her.

The nature of the job requires an economist (which is what she is, just like Bernanke, Greenspan, Volcker, ...) not a business executive.

 

[RabidAlpaca]

I just read up on her. I have a serious problem with her. She has NO business experience whatsoever, nor has she worked that I can tell in ANY privately funded non educational organization. In fact I would hazard to say her background is almost exclusively educational. She's all theory no real world. I am definitely not sold on her.

Hey now, I'm sure she can fabricate then loan billions of dollars to mega-billionaire bankers for near zero interest and **** over the American people just like the rest of them!

 

[Moot]

Sad for you then.

I don't think so.


http://www.nytimes.com/2013/08/02/opinion/krugman-sex-money-and-gravitas.html

Will Janet Yellen, a Woman and a Keynesian, Succeed Ben Bernanke at the Fed? : The New Yorker

 

[PirateMk1]

The nature of the job requires an economist (which is what she is, just like Bernanke, Greenspan, Volcker, ...) not a business executive.

I would tend to disagree. While the academic background is necessary I believe we would be better served by someone who has some real world experience besides, ie worked and made a living in the private sector for a bit.

 

[Artevelde]

I don't think so.


http://www.nytimes.com/2013/08/02/opinion/krugman-sex-money-and-gravitas.html

Will Janet Yellen, a Woman and a Keynesian, Succeed Ben Bernanke at the Fed? : The New Yorker

Then if you are logical with yourself you feel that all Economics Departments at all US Universities can best be shut down and all the faculty fired?

 

[Artevelde]

I would tend to disagree. While the academic background is necessary I believe we would be better served by someone who has some real world experience besides, ie worked and made a living in the private sector for a bit.

The last time a non-economist was Fed Chairman was during the Carter Presidency. Not really happy times.

 

[Moot]

I just read up on her. I have a serious problem with her. She has NO business experience whatsoever, nor has she worked that I can tell in ANY privately funded non educational organization. In fact I would hazard to say her background is almost exclusively educational. She's all theory no real world. I am definitely not sold on her.

Yeah, she's just a professor of business and economics, so what does she know about business, eh? lol :roll:

"...Yellen is Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was named Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Twice she has been awarded the Haas School's outstanding teaching award...."

 

[PirateMk1]

The last time a non-economist was Fed Chairman was during the Carter Presidency. Not really happy times.

I simply stated my opinion. I prefer somebody who is at least familiar with how things work in the real world. I prefer stability to be the main focus of the fed.

 

[PirateMk1]

Yeah, she's just a professor of business and economics, so what does she know about business, eh? lol :roll:

"...Yellen is Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was named Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Twice she has been awarded the Haas School's outstanding teaching award...."

She's never RUN a business. Or for that matter ever really worked in a private sector position. If she started her own business she might be more successful then the average joe, but reality hits EVERYONE and she would still be a beginner learning the ropes business professor or not.

 

[Moot]

Then if you are logical with yourself you feel that all Economics Departments at all US Universities can best be shut down and all the faculty fired?

I'm sure that seems totally logical to you, but I have no idea what you're talking about.

 

[Moot]

She's never RUN a business. Or for that matter ever really worked in a private sector position. If she started her own business she might be more successful then the average joe, but reality hits EVERYONE and she would still be a beginner learning the ropes business professor or not.

Yeah, she just teaches other people how to RUN a business.

 

[PirateMk1]

Yeah, she just teaches other people how to RUN a business.

What she teaches is out of date and crap.

Here's why.How Modern Economics Is Built On 'The World's Dumbest Idea' - Forbes

 

[Artevelde]

I'm sure that seems totally logical to you, but I have no idea what you're talking about.

Well, according to you she's the only qualified person in the US. So basically all the other economists, including Nobel Prize winners, must be unqualified and stupid people. I guess the other members of the Fed Board are also just for window-dressing?

 

[Moot]

She's never RUN a business. Or for that matter ever really worked in a private sector position. If she started her own business she might be more successful then the average joe, but reality hits EVERYONE and she would still be a beginner learning the ropes business professor or not.

Running a bank is business experience.

 

[Artevelde]

Yeah, she just teaches other people how to RUN a business.

No she doesn't. Jant Yellen is a macro-economist. She is not competent to teach people how to run a business.

 

[Artevelde]

Running a bank is business experience.

I'm sorry but you are utterly clueless. A business is something different from a bank. And a bank is something different from a reserve bank.

 

[Artevelde]

She's never RUN a business. Or for that matter ever really worked in a private sector position. If she started her own business she might be more successful then the average joe, but reality hits EVERYONE and she would still be a beginner learning the ropes business professor or not.

The Federal Reserve is NOT a business.

 

[Moot]

Well, according to you she's the only qualified person in the US. So basically all the other economists, including Nobel Prize winners, must be unqualified and stupid people. I guess the other members of the Fed Board are also just for window-dressing?

She's the best qualified candidate up for consideration. But if you have someone else in mind now would be a good time to drop the snark and say who it is.

 

[Artevelde]

She's the best qualified candidate up for consideration. But if you have someone else in mind now would be a good time to drop the snark and say who it is.

In your pening post you wrote that she was the only qualified person. 'm glad you now realize that was pretty ridiculous.

Obviously the US has many people who would be qualified if they were chosen. Janet Yellen is hardly the most distinguished economist the US has, although she does have a strong reputation and track ecord. But so do dozens of other people.

Personally I feel Timothy Geithner would be the best person for the job. But he apparently doesn't want it. Up to the President to decide if he wants to look to other qualified people.

Personally I doubt Yellen would be a good choice. She's seems to be too ready to keep inflating things.

 

[PirateMk1]

The Federal Reserve is NOT a business.

Its policies effect business. Therefore I would to have someone who has been on that side.