Bubble pop: Janet Yellen could create an economic crisis

1945/Desmond Lachman

Cartoon of giant pig representing U.S. deficit

“George Bernard Shaw famously observed that he knew three types of economists. Those who were brilliantly right. Those who were brilliantly wrong. And those who taught. Judging by her tenure at the Federal Reserve’s helm and her advocacy now as Treasury Secretary of a super-sized budget stimulus package, it would seem that Janet Yellen falls into Mr. Shaw’s brilliantly wrong category. For this, the country is likely to pay dearly.”

USAGOLD note:  There are spending and debt limits beyond which not even the sturdiest economy can  endure, let alone one as fractured and tenuous as today’s. Lachman sees Yellen as all too amenable to the contemporary economic agenda advanced by the Democratic Party – a choice he labels Janet Yellen’s Folly.

Repost from 2-9-2021

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