Summary: The Federal Reserve, along with every other central bank, is powerless to ignite an economy. It is peopled by arrogant, second and third-rate economists who have no idea what makes an economy run. They have singularly failed to predict any important financial and/or economic development. We examine what they have done and why it could never have worked. Yellen is just more of the same. Is the Fed really going to buy every single asset on the face of the earth – to prevent it going down in value? What utter morons! A speaker explains why the government can never cut spending. Stock market comment. Unemployment comment. The misery index. Dollar comment. The future of war in the developed world
