Good Riddance Janet! How ‘Opioid Janet’ Got Wall Street Hooked on Monetary Heroin, Part 2
The comments above & below is an edited and abridged synopsis of an article by David Stockman
Janet Yellen deserves none of the adulation being given by the mainstream financial press. In fact, her reign will be judged by history as a spectacular failure that left Main Street high and dry, even as it addicted Wall Street to the toxic monetary heroin that is the specialty of Keynesian central bankers.
Accordingly, it may take more episodes like the recent 12% Wall Street crash to finally purge the buy-the-dips addiction. Pending that day, however, the soon-to-be cold turkeys of Wall Street will surely come to see that Opioid Janet was not their friend at all, but their worst nightmare.
“The truth is, she was incompetent, clueless and truculently wedded to Keynesian macro-economic models that are so primitive and detached from reality as to be downright embarrassing. At the same time, her stubborn obliviousness to the gambling mania that suffuses the financial markets has been just plain pathetic.”
Stockman continues his criticism (see article above) of Janet Yellen and her Federal Reserve policies.