Janet Yellen

[kallend 1,623]

Will become Fed chair on Monday.

Here resume looks immaculate.

What do the financial folks on here think about her?

...

The only sure way to survive a canopy collision is not to have one.

[baronn 111]

Ben Bernanke ruled the Fed during an unprecedented time. Record debt, QE infinity and a stubborn economy held back by a restrictive political atmosphere. He retired with the shortest notice ever in the history of the Fed. IMO, he saw what is coming and made a hasty exit. Left a woman in charge to take the heat. Demographics and cycles are pointing to scary times ahead. Our current situation is unsustainable and the options are few. A major reset is needed and will happen within the next few months. This winter will make our last pullback look like a hiccup. Sectors still look strong but, mkt as a whole will be hit hard.

[Andy9o8 0]

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Left a woman in charge to take the heat.

OMG, what a delicious straight line. The possibilities are endless.

[GeorgiaDon 340]

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A major reset is needed and will happen within the next few months. This winter will make our last pullback look like a hiccup.

I suggest you sell all your stocks and bonds, and invest in Beanie Babies.

Don

_____________________________________
Tolerance is the cost we must pay for our adventure in liberty. (Dworkin, 1996)
“Education is not filling a bucket, but lighting a fire.” (Yeats)

[brenthutch 383]

A solid pick. I feel sorry for her though, there are a lot of land minds (inflationary) out there.

[Andy9o8 0]

I'm cautiously hopeful she'll be less of a crony to Big Banking than Larry Summers would have been, or that most (well, all) of her predecessors have been. And, she stood up to Greenspan when many others were cowed by him, and I admire that. That's partly why I supported her over Summers.

On the other hand, as baronn points out: she's just a girl. So her credentials be damned.

[turtlespeed 212]

brenthutch

A solid pick. I feel sorry for her though, there are a lot of land minds (inflationary) out there.

Was that freudian or typoish?

Land Minds . . . yes the current administration has its head in the soil.

But I also agree that there are more than just a few land MINES that will blow up in her face if she isn't careful.

I'm not usually into the whole 3-way thing, but you got me a little excited with that. - Skymama
BTR #1 / OTB^5 Official #2 / Hellfish #408 / VSCR #108/Tortuga/Orfun

[beowulf 1]

Everything the Federal Reserve has done in it's over 100 year history has been for the short term gain of it's member banks and politicians and the long term loss of the rest of the country. Most people don't realize that the Federal Reserve is not a part of the Federal Government, it's a private bank owned by a group of private banks. I don't see how Janet Yellen will be any better then any of the past Fed chairmen. I think she will be worse then Bernanke. The abject failure of QE will be easier to see as time goes on.

I see a lot of parallels with Detroit. This video shows what corruption and kicking the can down the road did for Detroit. The Fed has allowed the US Gov to continue kicking the can down the road, very similar to Detroit. What we now have in the US is more like Fascism then a representative democracy. The US government doesn't represent the people they represent their own interests and the interests of big corporations. This is done openly by the lobbying system. Which I see as an institutional form of bribery and corruption. How or when it will end is very hard to predict but it will eventually end. It's not likely to end very well.

http://youtu.be/IuOEf-pNXUI

[weekender 0]

kallend

Will become Fed chair on Monday.

Here resume looks immaculate.

What do the financial folks on here think about her?

my 2cents. Interest rates aside. Based on what i think would be best for the industry.

Yellen seemed to be fine with the Basel III as is, where as Summers would prefer more onerous requirements. Also, Summers is more Dodd-Franky(thats a real term).

So my vote was always with Yellen.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[kallend 1,623]

weekender

***Will become Fed chair on Monday.

Here resume looks immaculate.

What do the financial folks on here think about her?

my 2cents. Interest rates aside. Based on what i think would be best for the industry.

.

OK, and do you consider "the industry" and "the country" to be synonyms?

...

The only sure way to survive a canopy collision is not to have one.

[weekender 0]

kallend

******Will become Fed chair on Monday.

Here resume looks immaculate.

What do the financial folks on here think about her?

my 2cents. Interest rates aside. Based on what i think would be best for the industry.

.

OK, and do you consider "the industry" and "the country" to be synonyms?



the industry and the country are not synonyms in my mind. Having a strong financial industry is good for the nation but my comments on her were not that macro. i was giving my opinion of her based on the industry. thats how i read the question.

I think all the nominees were more than qualified for the job and would have the USA's best interest in mind. for a more broad response.

(edited material typo)

"The point is, I'm weird, but I never felt weird."
John Frusciante

[brenthutch 383]

As a former banker, this it my take. It is also why I am no longer in the field.

http://thekronies.com/karacters/bankor/

[beowulf 1]

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Having a strong financial industry is good for the nation but my comments on her were not that macro.

I don't think the banking system is stronger because of what the Fed did to stave off "disaster" with QE. It appears to be more fragile then it was before the housing bubble, which no one in the Fed including Janet Yellen saw coming. The "Too Big To Fail" Banks are now even bigger. What will happen when the next "unseen" bubble pops? Who will bail these even bigger banks out? All they have done is set the stage for an even bigger crisis down the road.

But don't worry the Fed will save us from the dreaded everyday lower prices of deflation and instead give us everyday higher prices of inflation. I find it amazing that they have managed to get people to think backwards and get them to believe that inflation is a good thing. The logic is so screwed up.

I think the cartoon in BrentHutch's post is pretty funny and not far off from the truth.

[weekender 0]

beowulf

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Having a strong financial industry is good for the nation but my comments on her were not that macro.

I don't think the banking system is stronger because of what the Fed did to stave off "disaster" with QE. It appears to be more fragile then it was before the housing bubble, which no one in the Fed including Janet Yellen saw coming. The "Too Big To Fail" Banks are now even bigger. What will happen when the next "unseen" bubble pops? Who will bail these even bigger banks out? All they have done is set the stage for an even bigger crisis down the road.

But don't worry the Fed will save us from the dreaded everyday lower prices of deflation and instead give us everyday higher prices of inflation. I find it amazing that they have managed to get people to think backwards and get them to believe that inflation is a good thing. The logic is so screwed up.

I think the cartoon in BrentHutch's post is pretty funny and not far off from the truth.

I dont want to get into a big thing but you need to do some research on capital requirements, proprietary positions and capital distributions before and after the housing crisis. the banks are structured differently due to stricter regulation. your comments completely ignore the reality of this restructuring, all of which is easily found on the interweb. please check out dodd-frank and basel III before you attack me for my comments.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[cryptocoin 0]

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http://thekronies.com/karacters/bankor/

Classic.

I believe whoever is the chairman does not make a lick of difference.

Same as the President of the USA, these are just figure heads, puppets on a string if you will.

Yeah they still work but the major decisions are not theirs.

Placing a black man and/or a women in charge gives us minions the perception that things are becoming more fair and we have hope (hence Obama's unfulfilled slogan and Nobel prize).

QE is simply printing money, printing money is simply inflation.

Fractional lending is a ponzie scheme as are derivatives and many of the bankers get rick quick scams.

It is all going to go tits up and the movements of the past 5 years have done nothing to stabilize the economy.

With low interest rates and uncertainty I see a run on the banks happening sooner than later.

Countries the world around have introduced 'haircut' legislation.

The US economy (and many others) is way too top heavy.

When it tips, who knows. But it will.

A financial calving will take place, the conditions are almost perfect.

[beowulf 1]

I won't attack you for your comments. I just don't agree that these new regulations will make the banks any safer.

[weekender 0]

beowulf

I won't attack you for your comments. I just don't agree that these new regulations will make the banks any safer.

based on what? what math are you using?

they have dramatically increased capital requirements. they have dramatically decreased the banks ability to distribute capital to shareholders. they have also completely ended proprietary trading and drastically limited true hedging. there are many more additional requirements and policies that i dont have the time to list. its just math. they have made all the banks balance sheets stronger and limited their ability to weaken them. how is that not safer?

am i saying the banks are fail safe? of course not. they are however, much safer than before and certainly safer than your describing.

edit to add: its fine to say you dont trust the gov't or the banks and your opinion is based on your gut. im cool with that, fyi

"The point is, I'm weird, but I never felt weird."
John Frusciante

[beowulf 1]

weekender

***I won't attack you for your comments. I just don't agree that these new regulations will make the banks any safer.

based on what? what math are you using?

they have dramatically increased capital requirements. they have dramatically decreased the banks ability to distribute capital to shareholders. they have also completely ended proprietary trading and drastically limited true hedging. there are many more additional requirements and policies that i dont have the time to list. its just math. they have made all the banks balance sheets stronger and limited their ability to weaken them. how is that not safer?

am i saying the banks are fail safe? of course not. they are however, much safer than before and certainly safer than your describing.

edit to add: its fine to say you dont trust the gov't or the banks and your opinion is based on your gut. im cool with that, fyi

Well only time will tell whether or not my distrust in the Fed or banking system is well founded or not. There is no math that I can point to in order to definitively say that these new regulations won't make any difference. It's just historically new regulations haven't improved the situation. SOX regulations haven't stopped Enron type fraud from happening. The only things regulations really succeed in doing is limiting competition by making it more expensive for smaller banks to stay in business and new banks to start up. So we now see fewer banks total with the bigger banks getting even bigger.

What you consider as making the banks balance sheets better is in my opinion just smoke and mirrors. The economy is not better since the housing market crashed it's only gotten worse. The banks appear stronger but if you mark to market their assets I think you find them to much less stable then they appear.

[weekender 0]

beowulf

******I won't attack you for your comments. I just don't agree that these new regulations will make the banks any safer.

based on what? what math are you using?

they have dramatically increased capital requirements. they have dramatically decreased the banks ability to distribute capital to shareholders. they have also completely ended proprietary trading and drastically limited true hedging. there are many more additional requirements and policies that i dont have the time to list. its just math. they have made all the banks balance sheets stronger and limited their ability to weaken them. how is that not safer?

am i saying the banks are fail safe? of course not. they are however, much safer than before and certainly safer than your describing.

edit to add: its fine to say you dont trust the gov't or the banks and your opinion is based on your gut. im cool with that, fyi

Well only time will tell whether or not my distrust in the Fed or banking system is well founded or not. There is no math that I can point to in order to definitively say that these new regulations won't make any difference. It's just historically new regulations haven't improved the situation. SOX regulations haven't stopped Enron type fraud from happening. The only things regulations really succeed in doing is limiting competition by making it more expensive for smaller banks to stay in business and new banks to start up. So we now see fewer banks total with the bigger banks getting even bigger.

What you consider as making the banks balance sheets better is in my opinion just smoke and mirrors. The economy is not better since the housing market crashed it's only gotten worse. The banks appear stronger but if you mark to market their assets I think you find them to much less stable then they appear.

I cannot argue against your feelings. you dont trust the gov't and banks. thats fine and you can feel anyway you want. I make decisions contrary to charts and fundamentals based on my feelings all the time, so i wont criticize you for it.

you are just plain wrong on your last statement. im sorry but you do not understand financial reporting or you would not make that statement. the financials are just math, there is no magic involved. The fact is they use GAAP for reporting so they are marked to market. im sorry but i think you misunderstand the term.

the major banks balance sheets are stronger and they are forced to take less risk. those are facts, not my opinion. its all public information.

you do not have to believe it will help but you cannot make a credible argument that its untrue.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[weekender 0]

to be clear and to sound less condescending. which i do not do on purpose.

the strength of the banks balance sheets is a fact based on the math. any line by line comparison to pre-crisis would prove that.

i fully understand you might not feel that is enough protections. perfectly understandable.

"The point is, I'm weird, but I never felt weird."
John Frusciante