World Bank Whistleblower 10-25-13

So lets write our local government officials and ask them where they stand on what Karen Hudes is exposing the corruption she witnessed when working for the ...
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I think we are going from bad to worse with Janet Yellen at the helm of the Federal Reserve. David Stockman thinks "we had a pretty good indication that she’s going to take this lunatic policy that we’ve had for years now right over the edge in a final spree of Keynesian money printing and attempted manipulation that is failing badly." She has made it publically known that she believes capitalist economies cannot "operate at full employment in the absence of routine intervention."

For a time it seemed that Keynesianism had been laid to rest, or at least substantially discredited by Milton Friedman and other economists from the Chicago school. After all, this was the same strategy employed by FDR during the Great Depression; a strategy which has been determined by economists to have prolonged the depression by seven years. However, Keynesianism has seen a revival of sorts since Obama was elected President. That's why he nominated Yellen to lead the Fed.

Since her nomination, liberals have been crediting her with warning about the housing crisis which lead to the Great Recession. The New York Times Editorial Board said, “…as president of the Federal Reserve Bank of San Francisco from 2004 to 2010, [Janet Yellen] sounded the warning about housing bubbles, even as others praised the boom.” Alan Blinder wrote in the Wall Street Journal that, “Yellen, was one of the first members of the FOMC (Federal Open Market Committee) … to realize that the [housing market’s troubles] could cause a major recession.” Edward Harrison, writing in the New York Times said that, “Janet Yellen was one of the only top Fed policy makers who warned about the housing bubble before the crisis.” Matthew O’Brien wrote in The Atlantic that, “[Janet Yellen] raised concerns about the housing bubble in the mid 2000’s, and highlighted the danger of a credit crunch.” Mark Gungloff, writing for the Huffington Post said that, “[Janet Yellen] warned early and often, starting at least in 2005, about the problems in housing and the looming economic catastrophe.” And, finally, a letter to President Obama urging Yellen’s nomination and signed by a third of the Senate Democrats, said “Janet Yellen displayed a ‘prescience’ and ‘identified the impending threats that both the housing bubble and the shadow banking sector posed to the entire economy.”


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