A Fox Business reporter was actually doing his job yesterday and persisted in asking Yellen about the stock market bubble as represented by the DOW 20,000 madness and whether "irrational exuberance" had finally made another appearance. Not surprisingly, Yellen proved once again that she is clueless about what happens when the central bank floods the casino with free carry trade money year after year.
Janet In The Skybox With Bubbles
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.