FederalRepublic
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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.
When measured for inflation, food and gas aren't usually included in the basket of goods because of their high volatility. But you're right that does seem rather deceiving not to include them.
The nature of the job is also being what is essentially the CEO of a bank, that the Chief Monetary Policy Maker of the Entire USA.
It extends to other items I've had to purchase lately like tires and a battery. I have a friend who recently moved to CA. and it's more ridiculous there.
So I've heard. I"m so tired of waiting for this economy to turn around, I could puke. How it got this way? I dunno, I mostly blame the big banks...and Greenspan. How about you?This economy is resting on a precipice. No one is fessing up to how it got that way.
Has gas been going up? Seems to me that it is cheaper now than it was during the summer of '08 when it was hitting $4 a gallon.
My friend has a small business in San Diego and she said the economy is horrible in California. In fact, she's talking about moving back to SLC. I'm sure glad I did. Prices are going up here too but it's still more affordable than a lot of places and the economy is more stable than most states, even during the height of the recession. For some reason, Mormons have always been good with money and planning ahead. lol
So I've heard. I"m so tired of waiting for this economy to turn around, I could puke. How it got this way? I dunno, I mostly blame the big banks...and Greenspan. How about you?
I can't argue with that.
Of course there's always corruption and faulty politics...policies that are extremely wrong-headed and disastrous.
Like this one for example: New study confirms economy was destroyed by Democrat policies - National Conservative | Examiner.com
What she teaches is out of date and crap.
Here's why.How Modern Economics Is Built On 'The World's Dumbest Idea' - Forbes
"...Back in the real world, however, even some true-believers in the shareholder value theory have seen the light, including its leading exemplar, Jack Welch. On March 12, 2009, he gave an interview with the Financial Times and said, “On the face of it, shareholder value is the dumbest idea in the world. Shareholder value is a result, not a strategy… your main constituencies are your employees, your customers and your products. Managers and investors should not set share price increases as their overarching goal… Short-term profits should be allied with an increase in the long-term value of a company.”
Why haven’t these eminent professors in managerial economics cottoned on to Mr. Welch’s insight? The professors are as intelligent and educated and as analytically sharp as any human beings on the planet. And yet here they are, teaching principles that are consistently leading to business disaster for the firms pursuing them and catastrophe for society as a whole. Why?
One of the reasons is that they are teaching principles that used to work in a fashion. Much of this thinking dates from a period at least sixty years ago when the American economy enjoyed a period of global domination and oligopolies ruled the marketplace....."
Of course there's always corruption and faulty politics...policies that are extremely wrong-headed and disastrous.
Like this one for example: New study confirms economy was destroyed by Democrat policies - National Conservative | Examiner.com
I like Janet. We need a good watchdog that can keep an eye on those bankers.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...."
I only gave one example, feel free to gives others. There more then enough blame to go around.BWHAHAHHAHH! Look at all those discredited rightwing memes all in one place.
Bush deregulates CDSs, gives tax cuts to billionaires to pump up a housing bubble, and pays for two vanity wars on credit, and conservative blame democrats.
BHWHAHHAHHAHAH! Like clockwork.
Sorry but the article looked more like a political hit piece than an objective article about the economic recession. The NBER that wrote the "new study" are the same people that declared the recession was over in 2009. LOL I think even you would agree that it didn't end in 2009 but is still lingering on and on and on. No?
"In September 2010, after a conference call with its Business Cycle Dating Committee, the NBER declared that the Great Recession in the United States had officially ended in 2009 and lasted from December 2007 to June 2009..."
CNN Poll: Nearly three-fourths say recession not over – CNN Political Ticker - CNN.com Blogs
Another report says that Fannie Mae and Freddie Mac couldn't have caused the housing bubble because they were losing market share and because of accounting irregularities earlier in the decade they were being forced to rein in growth by their regulator. It doesn't make sense that a company thats losng market share could be the cause of a financial bubble.....
Fannie and Freddie don?t deserve blame for bubble - Washington Post
That's funny cause a couple of years ago, when we refinanced our home, the mortgage was immediately
bought by Fannie. (an probably sent to the derivative market shortly afterwards)...
We're talking about FedGov reports on FedGov entities. Not only aren't these reports generally accurate, they may well be out and out lies to cover past indiscretions.
Fannie and Freddie don't finance mortgages directly....instead they buy loans from private banks and mortgage lenders. I seriously doubt it went to the derivitive market.
Hard to say.
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