All the government cronies can’t wait, because they know how to make fortunes from them.
The former Fed chairman, who last June said she doesn’t believe that “we will see another crisis in our lifetime”, urged the Fed to commit to a new approach to forward guidance, one which would let economic booms run long enough to fully offset crashes like the global financial crisis, recommending that the Fed make “lower-for-longer” its official motto for interest rates following serious downturns.
Of course, by doing so, the Fed also ensures that the subsequent crash would be far more serious, but Yellen’s “strategy” is cunning: all the Fed would have to do is blow an even larger bubble as a result, guaranteeing an even greater wealth transfer during the next “recovery.”
This is simply a recipe for massive disaster for most folks. The sun is shining now. But be advised.