Thursday, October 10, 2013

Yellen is same as Bernanke

Now that Mr Obama has confirmed that Janet Yellen is their nomination for the head of the Fed, the first woman to be in charge, is that a good idea ? I dont think she is qualified because its just more of the same failed policies from Bernanke that she will be implementing.

"Janet Yellen will make Mr Bernanke look like a hawk. In 2010 she said if she could vote for negative interest rate, in other words you have a deposit with the bank at $100,000 at the beginning of the year and in the end you would only get $95,000 back, that she would be voting for that. The consequences of these monetary policies and artificial low interest rates is that government gets bigger and bigger and you have less freedom. That is the consequence."