Janet Yellen Powell Puts On Some Pants And A Tie

by | Nov 4, 2017

Janet Yellen Powell Puts On Some Pants And A Tie

by | Nov 4, 2017

It can’t get any worse than this. Jerome Powell is a Wall Street-coddling Keynesian and Washington lifer who passes for a Janet Yellen replica—that is, save for his tie and trousers and his as yet underdeveloped capacity to whine pedantically.

During his years on the Fed since May 2012, Powell has voted approximately 44 times to drastically falsify interest rates and to recklessly and fraudulently monetize trillions of the public debt. That is, Powell has been all-in for a destructive central banking regime that is literally asphyxiating capitalist prosperity in America.

We will get to the latter in more detail momentarily, but just consider the plight of bank account savers during the 65 months “Jay” has served on the Federal Reserve Board. They have been continuously savaged by negative real interest rates averaging -1.8% per year. That cumulates to a 9% confiscation of inflation-adjusted principal during that five and one-half year period, but this purported Republican dissented not a single time.

And now he is being appointed Fed Chairman by a purported Republican President!

Read the rest at David Stockman’s ContraCorner.

About David Stockman

David Stockman was a two-term Congressman from Michigan. He was also the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street. He’s the author of three books, The Triumph of Politics: Why the Reagan Revolution Failed, The Great Deformation: The Corruption of Capitalism in America and TRUMPED! A Nation on the Brink of Ruin… And How to Bring It Back. He also is founder of David Stockman’s Contra Corner and David Stockman’s Bubble Finance Trader.

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