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Call Janet Yellen A Dove One More Time…
Via Kevin Muir of “The Macro Tourist” fame
I am asking you to put aside all your notions about monetary policy for a moment, and think about the next couple of points with an open mind. Forget about scary Central Bank balance sheets. Fight the urge to worry about the unprecedented quantitative easing programs. Dismiss the warning cries of the frightening levels of debt. Ignore the apocalyptic forecasts of coming stock market crashes. Let’s just have a look at the data. And most of all,
Perhaps this whole way of perceiving reality doesn’t fit. Philipps, monetary policy, the whole thing is focused on the wrong variables in a system with extreme concentration of wealth. And look at healthcare. The whole way that I learned financial analysis says the whole context of the discussion is a backdrop of economic failure.
Excellent piece!