Central planning is only good for two things. Poverty and comedy.
The stories from the Soviet Union central planners are just that. They caused abject poverty for hundreds of millions of people AND created hilarious stories about shortages of such things as right shoes. The claim was that two factories were set up, one to make left shoes, and one to make right shoes. But when the factories started in production it was discovered that both were making left shoes creating a massive shortage of right shoes.
When central planning is involved get ready for starving people and laughs galore!
Many people used to blame the poor economy in the Soviet Union, not on central planning, but on alcoholism. Forget for the moment whether people drank a lot because the economy was so bad… or if their drinking made the economy bad.
Alcoholism was an often fronted explanation for why things were so bad in the Soviet Union.
And now we have the US, or the USSA, as I call it, which has become massively centrally planned and is now a mix between communist and fascist.
And, the politburo Chief for the central planning agency of the economy, the Federal Reserve, Janet Yellen, has come out and blamed the poor US economy on opiate addiction!
Again, forget for the moment whether people may be taking opiates because the economy is so bad… and not vice versa.
And, forget for the moment that slurring Janet always sounds like she has just taken a handful of oxycontin.
In Yellen’s testimony before the Senate Banking Committee, she mentioned that there has been a major “decline in labor force participation among prime-age workers as a result of opioid abuse.”
Now, of course there is a major problem with opioid and heroin addiction in the US thanks to the pharmaceutical industry getting innocent people hooked on highly addictive pain medication while outlawing the pain medications that work best and are much safer such as cannabis and kratom.
But the drugs dealt to the unwitting public by drug dealers in white lab coats, called doctors, are not the root of the problem in the US economy - the problem is the central bank and the communist-style central planning that comes with it.
And, the Federal Reserve’s policy of free money and low to zero interest rates for nearly a decade now has done far more damage than the pharmaceutical industrial complex than to the economy.
And, what did Janet have to say about raising rates a modicum?
Well, according to her, having raised the rates to a lofty 1% level, that should be good enough.
Remember, I’ve been saying since 2010 that the Fed will never raise rates a substantial amount ever again. The reason being that US government debt is so massive now that a rise of above 5% will all but bankrupt the country. And I continue to be proven right.
The main item CONgress wanted to question Janet on was on “auditing” the Federal Reserve.
Janet put up resistance as all central planners do. Especially the central planner of the central bank that all but controls the government.
She pointed out that the Fed is already the most transparent of all central banks, and that is actually, sadly, true.
Regardless, we already know what it is the Fed is doing. We know it is a taxpayer funded backstop for a fraudulent fractional reserve banking system. We know it writes a blank check to government and its cronies. We know how it suppresses interest rates artificially, and we know why it has to open its mouth about everything under the sun.
Ultimately, a mere audit of the Fed is futile because it’s just that, an audit. Instead, the Federal Reserve, like all central banks, should be abolished entirely.
The Federal Reserve and CONgress are the two biggest reasons why the US economy is faltering and why it will soon completely collapse. Yet, they meet, and come to the conclusion that the reason things are getting bad is because of drugs!
The only thing of value that came from the whole affair was the man sitting behind Yellen who flashed his free market “Buy Bitcoin” sign before the state controlled propaganda media could pan away.
The US government is bankrupt and the Federal Reserve is out of bullets to do anything. Now we just await the collapse of the system.
Janet Yellen has just proclaimed we’ll never see a financial crisis in our lifetime. When a central banker says that you can almost bet everything you’ve got that we’ll have a financial crisis within weeks or months.
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Jeff this is unreal, this woman had never seen this script before. Yellen couldn't even form the most coherent of sentences. We have given her control of our entire banking ponzy scheme. How can people still sleep through this??
Gods speed @dollarvigilante
It's called complacency. Unfortunately, complacency doesn't circumvent the rules of economics, and won't keep anyone's ass from hitting the ground when the shit hits the fan.
IKR I was thinking the same thing. Mus have had a Applaud sign flouting around or something. LOL
Really? what the hell, why did everyone start clapping? It's not like she said anything that great...
I've been saying that Amerika has synthesized Ayn Rand and Karl Marx....
So the Randian's get in power and align themselves with big statism! That be Ryan and Co.....Fuckin' hilarious!
Socialize the money supply and that will get rid of the welfare bureaucracy...
Implement a 1-house per-person policy and re-educate people away from the Rockefeller master/slave system.....
OMG! Can't believe the US economy rely on this person. She lives in her Alice Wonderland bubble! She has absolutely no idea what she's talking about. She was just about to collapse. Poor Yellen, you should stay home and watch you soap...
Mother felon is hilarious!
'Remember, I’ve been saying since 2010 that the Fed will never raise rates a substantial amount ever again. The reason being that US government debt is so massive now that a rise of above 5% will all but bankrupt the country. And I continue to be proven right.'
So what will it take to realise that cheap lending just stimulates huge debts and artificial inflatory growth? Another gigantic recession?
the US economy will probably collapse one day, good idea to stock up on both hard an digital assets
This is what happens when you let your grandparents run our country! These people shouldn't even be allowed to drive let alone run the nation!
Is this the real news. Cause i didnt find it anywhere
this is from Sept, 2015. Jeff is mixing news timelines. I am not sure if we can call it fake news, but we can call it misleading information.
Yup, http://www.cnbc.com/2017/07/13/feds-yellen-believes-opioid-abuse-holding-back-the-us-economy.html
It's sadly real. Check CNBC.
Someone take her to the hospital!
She's like The Walking Dead, or the un-dead, she just doesn't know it!
She is on drugs......
good post
I'm wondering what Yellen would say if she read some of teh posts on steemit about her..
Wow. Just wow... I almost want to watch it again but I feel that like would be too perverse to witness her pain and suffering. Wow!
That's a really nice post
It's falling apart because she's ahooting dope.....sounds accurate
Futur is on mining bitcoin, not gold... And we're already in it!!!
i agree, she's got problems. For the record though, this video is from September 2015.
buen post
very interesting
More bullshit from bankers.
All I want to know is whats she's smoking?
nice information keep it continue
Nice post
She's the little troll that's on drugs!
Holy fuck that was brutal, jesus she had whole minute pauses
Jeff you are a great inspiration. Ive been investing in gold, silver, and land for years. Hopefully the cryptos will destroy these parasites unless the opiate addiction gets the sheep first. I see more and more people every day becoming AnCaps. Some just do not know it yet.
I would bet large sums of money that during that speech, she is under the influence of some pretty hardcore opiates. Watch her head bob . . . listen to her pauses . . . she is nodding out on opiates.
That's what a disaster looks like. Front and center.
Yes, as an ex-junkie I would say she certainly appears to be nodding out. But also, as I nowadays am an ESL teacher, she reminds me of myself when I haven't previewed the material I am presenting. On those occasions I stare at the textbook for sometimes up to a minute thinking, "What the fuck is this saying?" It looks like she may be doing that here. But better than that maybe she's high as fuck AND not familiar with the material.
Crazy interesting post!
:) vote n follow me back @
https://steemit.com/story/@zauce/opinion-on-mining
Where I'm from, if they raised the interest rate on mortgages by a percent, half of homeowners in the country would be screwed on their mortgage. I'm sure it's the same in the states. But because of the low rates, the price of homes is now ludicrously high. Another bubble waiting to be popped.
Poor woman looks likes shes had a stroke. I think the situation has become too much for her and she is not coping. She should step down and get some rest and medical advice.
That's a fantastic photo All I want to know is whats she's smoking. i vote u.....
There is one good thing about this:
That there are dudes clapping tells me they don't listen to that crazy heffa...
Damn! This was surreal.
"we will never see another financial crisis in our lifetime" she is definitely on opioids. LOL. Thanks for sharing
The problem is oxycontin and all the other pharma drugs.
Yellen has got demensia or is high as a kite.
I left the their work force so I wouldn't have so much stolen for me, I'm still working a lot. Wish the dollar would hurry up and crash so they'll lose some of their power.
This is simply a dying woman clutching at straws as she sinks into the quicksand of a mess she and her cronies have created at the Federal Reserve - pitiful!
Congratulations @dollarvigilante!
Your post was mentioned in my hit parade in the following category:
I actually Love Yellen and have the utmost respect for the Fed getting us out of recession over the last 8 years. The U.S. economy is now in the best shape in all of it's history. I do not think Yellen deserves all of the credit, because the U.S. taxpayers, the politicians, and the Fed all worked together to help us hit new all time highs in equities and in housing. Plus, the BOJ and ECU also did tremendous and magical money movement and stimuli to help the entire globe get to where it is today! Congrats. I believe this author should study a bit more and understand what all time highs in stocks and homes does for a country. He should also realize that this booming economy isn't only present in the U.S. It is also present in Australia, Japan, Europe (somewhat,) Canada, Mexico (since 2017,) Kuwait, and many other countries that are on the path to supreme success financially. If the author or anybody else wants to argue that this booming economy puts a damper on savers and their spending power, I totally agree. But saying that the economy is not doing well is not the same as saying Yellen is devaluing the currency. Good luck in your investing ventures.