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Janet Yellen Says A New Financial Crisis Probably Won’t Happen ‘In Our Lifetimes’ But The BIS Says One Could Soon Hit ‘With A Vengeance’

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Federal Reserve Chair Janet Yellen is quite convinced that the United States will not experience another financial crisis for a very long time to come.  In fact, she is publicly saying that she does not believe that another one will happen “in our lifetimes”.  But there are other central bankers that see things very differently.  In fact, a new report that was just released by the Bank for International Settlements is warning that a new financial crisis could soon strike “with a vengeance”.  So who is right?

It would be nice if it turned out that Yellen was right.  Nobody should want to see a repeat of what happened in 2008, and Yellen seems extremely confident that she will never see another crisis of that magnitude

“Would I say there will never, ever be another financial crisis? You know probably that would be going too far but I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will be,” Yellen said at an event in London.

Even though the U.S. national debt has roughly doubled since the start of the last financial crisis, and even though corporate debt has roughly doubled since then as well, and even though U.S. consumers are more than 12 trillion dollars in debt, and even though the top 25 U.S. banks have 222 trillion dollars of exposure to derivatives, Yellen believes that our financial system “is much safer and much sounder” than it was in 2008…

“I think the system is much safer and much sounder,” she said. “We are doing a lot more to try to look for financial stability risks that may not be immediately apparent but to look in corners of the financial system that are not subject to regulation, outside those areas in order to try to detect threats to financial stability that may be emerging.”

I have a feeling that these words may come back to haunt her, and the fact that she has more power over the performance of the U.S. economy than anyone else does is more than just a little bit frightening.

The truth is that signs of a major new economic downturn are emerging all around us, and many are warning that the next great financial crisis is just around the corner.  For example, just consider what a new report from the Bank for International Settlements is saying.  The Bank for International Settlements is widely regarded as “the central bank of central banks”, and this new report is warning that we could be heading for “a financial boom gone wrong”

A new financial crisis is brewing in the emerging economies and it could hit “with a vengeance”, an influential group of central bankers has warned.

Emerging markets such as China are showing the same signs that their economies are overheating as the US and the UK demonstrated before the financial crisis of 2007-08, according to the annual report of the Bank for International Settlements (BIS).

Claudio Borio, the head of the BIS monetary and economic department, said a new recession could come “with a vengeance” and “the end may come to resemble more closely a financial boom gone wrong”.

And of course many of the most trusted analysts in the financial world agree with the BIS.  In fact, Dr. Doom Marc Faber is predicting that stocks could soon decline “by 40 percent or more”

If the man often hailed as the original “Dr. Doom” is right, the stock market could see another “lurch” higher — at which point investors may want to cash out quickly and run for cover.

Marc Faber, the editor of “The Gloom, Boom & Doom Report’ and a perennial bear, isn’t backing down from his latest dire prediction that would send stocks plummeting by 40 percent or more.

A drop of that size could take the S&P 500 Index down from Friday’s closing price of 2,438 to 1,463.

In the end, we shall see who is right and who is wrong.

And let us certainly hope that another crisis like the one we saw in 2008 does not happen any time soon, because tens of millions of Americans are completely unprepared for one.

According to a brand new survey that was just released, almost half the country currently spends as much or more money than they make each month…

Nearly half of Americans say their expenses are equal to or greater than their income, according to a new study from the Center for Financial Services Innovation. And for those 18 to 25 the percentage is over half, up to 54%.

“Half of America has no financial cushion,” says Jennifer Tescher, president and CEO of CFSI, which released the study. “They are living really close to the edge.”

And another recent survey discovered that 69 percent of all Americans do not have an adequate emergency fund.

With so many of us living on the edge, our society is extremely vulnerable to a major financial shock.  And when one finally does happen, a lot of people are going to get knocked out of the ranks of the middle class very rapidly.

Even though things seem relatively stable for the moment, poverty is on the rise all over the country.  For example, according to the Daily Mail the number of homeless people in Los Angeles has risen by 23 percent over the last year…

According to a new count released in May, the number of homeless people in the Los Angeles area jumped by 23 percent in the last year to reach nearly 58,000. Of those, some 5,000 are veterans, the highest number of homeless veterans of any city in the country and a near 60 percent increase over the previous year.

And we are seeing similar things in cities all over the nation.

The United States is in the midst of a long-term economic decline that goes back for decades.  Our economic infrastructure has been gutted, our middle class is now a minority of the population, and we have piled up the biggest mountain of debt in the history of the world in a desperate attempt to maintain a standard of living that we have not earned.

Hopefully Janet Yellen is right and hopefully the next major financial crisis will be put off for as long as possible.

But whether the next financial crisis comes quickly or not, the truth is that the U.S. economy is going to continue to decline if we continue to make the same kinds of incredibly poor decisions that we have been making for a very long time.

 
  • dept is not growth

    basing the assumption that continually rolling over dept is economic growth (lol) .her models show that printing up to 100 trillion in fresh fiat should (big if)buy at least 20 years,simply printing and rolling over roughly 25 trillion bought 8 years so far,so printing another 75 trillion should again based on her models buy even more time (until it doesn’t)

    • SoCalBeachDude

      Where do you come up with such utter nonsense? What you asserted is NOT TRUE AT ALL and the Federal Reserve has KEPT THE US MONEY SUPPLY AS MEASURED BY M2 right around $13 trillion.

  • TOUJOURS DEMAIN

    Janet Yellen’s hair reminds me of Captain Kangaroo.

    • aldownunder

      Yes she is a joke and so is the Fed in general

      • SoCalBeachDude

        Absolutely false. Janet Yellen is a highly accomplished lady and an excellent economist.

        The Federal Reserve is the best and most conservative central bank in the world.

        • GSOB

          Yellin is gellin

        • Paul Patriot

          Huh???? WOW!!!

        • Daddyotis

          Laughably inaccurate statements…

          • SoCalBeachDude

            What I stated is, of course, 100% correct.

        • MaxRockatansky33

          What about Deutsche Bank? Next Leeman Bro cause?

          • SoCalBeachDude

            Deutsche is a wonderful and strong bank in Germany and is one of the oldest and the largest bank in Deutschland.

          • MaxRockatansky33

            I hope you are right about Deutsche bank. if things change we will have much bigger cause than Leeman bro.

      • JC Teecher

        Two of my comments talking about how the site owners are deciding they don’t want me speaking truths about them to the folks here, and the whole use of this site, and some trolls to form Social Media Profiles on people, was moderated forst for over 12 hours, and then just as expected, they were deleted completely.

        I see fake people everywhere everyday, but I got fooled by “you know who”.
        Evidently you can take the lawyer out of the swamp, but you can’t take the swamp out of the lawyer.

      • MaxRockatansky33

        Replace this with a stone and stick barter trade.

    • SoCalBeachDude

      Janet is a lovely sweet little old lady and makes fabulous chicken soup and baklava.

    • JC Teecher

      She reminds me of someone freshly embalmed. A friend from high school inherited his Family’s Funeral Home business, and he took us on a couple pretty rough late night “field trips” through the morgue.

    • SnodtBlossom

      I hadn’t thought about it before, ..but you’re right!

    • cashoes the edible footwear

      And similar to Captain Paul Watson, and a homeless bag lady flower child that cuts her own hair in gas station bathrooms with a dull can opener.

  • tacoma

    You can trust the Federal Reserve. We rule the money world.
    – A. Greenspan

    There is irrational exuberance. But relax. I am in charge.
    – A. Greenspan

    We can do ‘helicopter money’. This fix everything.
    – B. Bernanke

    Debt and deficits don’t matter. Torture doesn’t matter too.
    – D. Cheney

    There are unknowns. We know that. There are unknown knows. We can handle that. But the Iraq invasion is known unknows. Therefore it will be a success.
    – D. Rumsfeld

    The U.S.A. is the indispensable nation the world look up to, our enemies great fear. We are greater than all past empires combined.
    – M. Albright

    I will terminate islamo-fascist terrorists in no time.
    – Dubya

    China can do the sweat labor, make chopsticks. We do the big things, high tech and high intellect. Financial wizardry. We make trillions. They are lucky to survive.
    – Wall Street

    Finally, …

    There will not be financial crisis in my lifetime. Your lifetime. Anybody lifetime. Because I am in charge.
    – J. Yellen

    • SoCalBeachDude

      Alan Greenspun was always way beyond SPUN and made a whole lot of inane and stupid statements during his tenure as chairman of the 7 member BOG (Board Of Governors) of the Federal Reserve.

      • GSOB

        You look foolishly proud in your denial. You are like a mouse that can only see what is in front.
        Gold and silver and real estate….wake up. Fiat currency will crash as more and more folks learn that nothing is backing it.

        • SoCalBeachDude

          I am merely STATING THE FACTS.

          The Federal Reserve has nothing whatsoever to do with commodities or real estate and that is none of their concern at all and they do not even discuss such stuff.

          Gold is just an IRRELEVANT TRIVIAL LITTLE NICHE FUNGIBLE COMMODITY whose value is a SPECK OF DUST in the US and global financial systems.

          • GSOB

            You are part of the liberal establishment

          • SoCalBeachDude

            What exactly is the “liberal establishment?”

          • GSOB

            There are mirrors

          • SoCalBeachDude

            So can’t even define what you are labeling the “liberal establishment.”

          • wgb4032000

            JEWS

          • SoCalBeachDude

            And what do folks of the Jewish faith and culture have to do with anything?

          • MathCapitalist289

            I assume, based on previous rhetoric, their new definition of “liberal establishment” has nothing to do with liberals, but rather anti-capitalism and anti-technology. The latter just means that they think cave dwellers are superior to modern humans.

          • Daddyotis

            Incredibly obtuse and false statement

          • SoCalBeachDude

            How could I possibly ever be more clear?

          • Daddyotis

            And what does any of that nonsense have to do with the banking system or Federal Reserve in the USA?

    • Both Yellen and her predecessor have been proven 100% incorrect in their predictions

      • SoCalBeachDude

        Yellen and her predecessors DID NOT AND DO NOT MAKE “PREDICTIONS” AT ALL and are not in the business of making predictions but are MERELY ADMINISTRATORS OF THE CENTRAL BANK OF THE USA whose primary purpose is to clear interbank transactions and monitor and maintain liquidity in the 6000 member US banking system which is the largest in the world. As part of that process they monitor data points and publish a huge array of historical financial information which is available at:

        http://www.FederalReserve.gov

  • GSOB

    Third time is game over…

    Here is another homework assignment…..SoCalBeachdude
    https://www.youtube.com/watch?v=P4_1pwsm5LY&spfreload=5

    • SoCalBeachDude

      That is a total propaganda nonsense bogus video.
      Get a clue, dude. How many times do you have to be told that? There isn’t anything about it that is remotely correct.

      • GSOB

        and Jesus is not Jehovah…. right.

        • SoCalBeachDude

          Jesus of Nazareth was just a person who lived for 33 years and then was crucified for crimes committed against the state.

          • GSOB

            …just a person huh?

          • SoCalBeachDude

            He didn’t even have a verified father on his birth certificate and was apparently born out of wedlock to his mother Mary as Joseph said he wasn’t his child.

          • GSOB

            I truly pity you and folks like you.

          • SoCalBeachDude

            It is folks like you who are totally clueless that I pity and I would suggest you get a clue.

          • GSOB

            I don’t need your pity

          • SoCalBeachDude

            You do need serious education on many issues, especially on the issues of MONEY & BANKING of which you are clueless.

          • JC Teecher

            Zec 11:6
            For I will no more “pity” the inhabitants of the land, saith the LORD: but, lo, I will deliver the men every one into his neighbour’s hand, and into the hand of his king: and they shall smite the land, and out of their hand I will not deliver them.

            Said of the Lord against the rebellious houses of Israel. It will soon happen again as the days of woe and wrath come upon a “once” great and God revering nation, called America. Wait for it friends and neighbors that make up the true church/bride of Christ, as ye all will see the destruction that comes upon the liberal anti-christians.

            True Christians have no fear, because we live not for the world or it’s corrupt systems like the congressional /senatorial, men and women, on the right and the left.
            Very few are Godly people because they have gotten sucked into the vacuum of the swamp, and have succumbed to the NWO lies, that together we can make america great again and it will be like Nirvana on Earth again. What a crock.

            Why would anyone in their right mind, at this stage of the game want to get into politics? Only two answers fit. They are either delusional, or they want to get in on the money.

            1Jo 2:15
            Love not the world, neither the things that are in the world. If any man love the world, the love of the Father is not in him.
            It does not get any plainer said than that. The world under man’s rule will never be nothing but junk. (yep, I used a double negative, so sue me hey!)

          • SoCalBeachDude

            What utter nonsense, as usual, from you. Sad.

          • Paul Patriot

            “Just a Person”???? Are you 100% sure????

            Then he must have been a lying lunatic, because he claimed to be the Savior of humankind, the way, the Truth and the life, and the only way to get to heaven.

            So, according to you, Jesus was a lying deciever…not who he claimed to be?

            You are denying Gods word, and calling the God of creation a liar……….

            Whoever believes in the Son of God has the testimony in himself. Whoever does not believe God has made him a liar, because he has not believed in the testimony that God has borne concerning his Son.
            1 John 5:10

            He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. John 3:18

            “Jesus said to her, ‘I am the resurrection and the life. He who believes in me will live, even though he dies; and whoever lives and believes in me will never die…'”
            John 11:25

            When the Son of Man comes in his glory, and all the angels with him, he will sit on his throne in heavenly glory. All the nations will be gathered before him, and he will separate the people one from another as a shepherd separates the sheep and the goats.”
            Matthew 25:31-32

            “Jesus said, ‘My kingdom is not of this world. If it were, my servants would fight to prevent my arrest by the Jews. But now my kingdom is from another place.’ ‘You are a king, then!’ said Pilate. Jesus answered, ‘You are right in saying I am a king. In fact, for this reason I was born, and for this I came into the world, to testify to the truth. Everyone on the side of truth listens to me.'”
            John 18:36-37

          • SoCalBeachDude

            You said. I didn’t. But Jesus of Nazareth was a shameless marketer much like Donnie.

          • wgb4032000

            SHUT UP JEW BITCH, YOU’LL HANG SOON.

  • GSOB

    The word gets out and people and other countries will want to dump the dollar and buy up goods.

    • SoCalBeachDude

      Absolutely false. The US dollar has no other possible challenger and is the most used currency in the world accounting for around 83% of all global transactions and is one of the most conservatively managed currencies in the entire world, especially compared to out of control currencies such as the renminbi which will need to be depegged by China from the dollar as China has used that pegging to maintain the value of the renminbi while that have egregiously created more than $30 trillion of renminbi (RMB / Yuan) over the past 10 years increasing their money supply from less than $3 trillion to now more than $34 trillion making it an absolute joke among currencies.

      • GSOB

        Fiat currency…

        • SoCalBeachDude

          No, Fiat is a car company and has nothing to do with ELECTRONIC CURRENCIES which run the world and are by far the best currencies and money ever created.

  • SoCalBeachDude

    Janet Yellen is just one of the 7 member of the BOG at the Federal Reserve and she has been suffering from excess euphoria…

    SLIGHT DISAGREEMENT INSIDE FEDERAL RESERVE…

    How Fed’s Williams can say stock market’s on fumes while Yellen says another crisis won’t happen ‘this lifetime’

    http://www.marketwatch.com/story/how-feds-williams-can-say-stock-markets-on-fumes-while-yellen-says-another-crisis-wont-happen-this-lifetime-2017-06-27

  • GSOB

    The government won’t warn you and the Fed can’t save you.
    Prepare

    • SoCalBeachDude

      The Federal Reserve does not exist to save anyone. It is merely a central bank.

      • GSOB

        Who prints fiat currency and loans it out with interest

        • SoCalBeachDude

          The US dollar is superbly managed by the Federal Reserve and the amount of US dollars in circulation in all forms is less than $14 trillion which is a tiny amount of current for an economy that is now an $18 trillion a year economy.

          The Federal Reserve does not ever loan out US dollars to anyone other than member banks on an emergency basis for liquidity purposes through the Federal Discount Window at the Federal Discount Rate which is 0.50% above the Federal Funds Rate at which banks can borrow from each other for overnight liquidity purposes on a fully collateralized basis.

          The Federal Discount Window is PRACTICALLY NEVER UTILIZED at all as banks are AWASH IN VAST EXCESS LIQUIDITY and have more than $1.3 trillion in their primary reserves accounts inside the Federal Reserve and more than $2.5 trillion in their EXCESS RESERVES ACCOUNTS inside the Federal Reserve so have NO NEED WHATSOEVER TO BORROW FROM EACH OTHER OR THE FEDERAL RESERVE.

          Banks get all of their money to lend to borrowers from CUSTOMER DEPOSITS at the 6,000 or so member US banks and they may never lend out more than 90% of those customer deposits, but because borrowing demand from qualified borrowers is now so low, the outstanding loans to customer deposits ratio has plummeted to only about 67% which is the lowest it has ever been.

      • Stuey

        Yeah, the can not stop any financial downturns thus they have no real effect on the economy but they are a great central bank. OK, i got it, that makes a lot of sense. NOT!!

        • SoCalBeachDude

          It is NOT THE JOB OF A CENTRAL BANK to attempt to stop any cyclical financial downturns in economies at all.

          • aldownunder

            Tell boofhead Ben that

          • SoCalBeachDude

            Bonkers Ben is well aware as to those facts.

          • Stuey

            Then you need to take that up with the author of this blog because he seems to think they do have an effect on the economy, just not to the good.

  • SoCalBeachDude

    The total M1 money supply in the US is only $3 trillion and only $1.3 trillion of that is printed currency. This is confirmed by the Federal Reserve H.3 report:

    http://www.federalreserve.gov/releases/h3/current/

    M2 which includes M1 plus savings balances is only around $13. None of the QE funds increased the money supply at all but only served to increase the MONETARY BASE with 100% of those funds remaining inside the Federal Reserve.

    That LITTLE BIT OF MONEY supports the largest economy in the world which is now an $18 trillion a year economy.

    The entire $3.6 trillion of Federal Reserve QE funds has ALWAYS REMAINED INSIDE THE FEDERAL RESERVE in the reserves accounts of the member banks from whom the Federal Reserve purchased securities with more than $2.5 trillion in the EXCESS RESERVES accounts of those banks.

    Money Stock Measures – H.6

    http://www.federalreserve.gov/releases/h6/

    Due to extremely low borrowing demand from qualified borrowers, banks now have cash reserves of around 33% of all customer deposits with only about 67% of customer deposits in outstanding loans.

  • SoCalBeachDude

    The Federal Reserve has NOTHING WHATSOEVER to do with stocks and it has warned repeatedly about excessive stock overvaluations which have been caused by CORPORATE BUYBACKS and STUPID MANIC SPECULATORS high on hopium and drunk on false perceptions wile totally ignoring fundamental valuation metrics.

    Remember One Thing – Karl Denninger

    The Fed has never, in its history, managed to actually prevent a market collapse.

    It did not do so in 1929.

    It did not do so in 1987, despite it being evident that the market was going to blow up.

    It did not do so in 2000, despite it being evident that the market was grossly overheated.

    It did not do so in 2008, despite having more than a year worth of warning (the two Bear Stearns hedge funds) and in fact Bernanke testified under oath that “subprime was contained.”

    It will not do so this time either.

    https://market-ticker.org/akcs-www?post=230456

    • Stuey

      But yet you defend your beloved Federal Reserve. But you post this material which admits they can not stop any financial downturns. Jeeez, dude, make up your mind.

      • Evan Elliott

        Yes, please make up your mind. Why are you defending the Fed anyway? You think they care about you at all? Please.

      • SoCalBeachDude

        I am simply stating the facts. You appear to believe the Federal Reserve is SOMETHING THAT IT SIMPLY IS NOT. The Federal Reserve is simply the central bank of the US and its primary job is to handle interbank clearance of transactions and to oversee the overall stability of the 6,000 or so member banks in the USA.

        • Stuey

          Then it is useless and needs to be abandoned.

          • SoCalBeachDude

            The Federal Reserve is limited and constrained as to what it can do by the FEDERAL RESERVE ACT and what you want it to do (even while you advocate abolishing it!) is not at all in the scope of what the Federal Reserve is proscribed by the Federal Reserve Act to do.

            FEDERAL RESERVE ACT

            https://www.federalreserve.gov/aboutthefed/fract.htm

  • JC Teecher

    When the powers that be start ramping up on the sunshine pumping, when anyone with eyes can see, it is raining cats and dawgs outside, and everyone is up to their o-rangatang, in swamp water; better look out cause a reaming is about to unfold.

    I smell a familiar stench coming out of Wall Street and the UN Building.
    You know the kind that permeates the air in a really bad old folks home.

    It is the smell of dirty diapers and death. Coming to a bank near you.

    “shut the freaking door”

    • SoCalBeachDude

      And what does any of that nonsense have to do with the banking system or Federal Reserve in the USA?

      • GSOB

        Very shallow response…

        • SoCalBeachDude

          Obviously that nonsense has nothing whatsoever to do with the Federal Reserve which is the topic of this article.

          • GSOB

            Nothing is more dangerous than a desperate, broke and armed federal government.

          • SoCalBeachDude

            Perhaps, but that has nothing whatsoever to do with the Federal Reserve which is not even a direct part of the US government.

          • GSOB

            Do your homework I assigned you and report back to me.

          • SoCalBeachDude

            I told you that old stupid video was nothing but detritus propaganda and totally false.

            I would suggest you learn about the Federal Reserve and what it is and what it does at:

            http://www.FederalReserve.gov

    • JC Teecher

      I can’t seeee you obi wan, nor do I want to. YOu are in your little jack-n-tha-box, with snottly, and carrie the carrion, like nasty little clowns that ye are. Sleep tight and don’t bite.

      • Paul Patriot

        May the real JC Teecher step forward….

        • JC Teecher

          What are you saying PP?

  • SoCalBeachDude
  • SoCalBeachDude

    CREDIT CRISIS: The BIS and the global debt bubble

    The Bank for International Settlements (BIS) is to be applauded for its candor about the serious debt related vulnerabilities in today’s global economy. At a time when a great sense of complacency pervades both global markets and policy making circles, the BIS has had the courage to suggest in its recently released Annual Report that the emperor might have no clothes.

    It has done so by pointing to the large increase in global debt levels and the large reductions in global interest rate risk premiums that have been spawned by years of ultra-unorthodox monetary policies by the world’s major central banks. It has also done so by flagging the existence of a series of asset price bubbles and poor bank practices in a number of important countries.

    The BIS’s principal concern is that global debt to GDP levels today are some 40 percent higher than they were on the eve of the 2008-2009 global market meltdown. Equally troubling to the BIS is that debt levels have increased by even larger amounts in a number of systemically important countries. It notes that since 2008 overall debt-to-GDP levels are up by 190 percent in China, by 70 percent in Canada and France, and by 50 percent in Japan. The BIS is also warning that credit-to-GDP gaps have reached levels signaling elevated risks in a number of important emerging market economies.

    The BIS does us a service by pointing out the basic choice with which the world’s central banks are now confronted. They can either get serious now about normalizing interest rates from their artificially low levels, even though this is likely to cause some immediate painful disruption in the global financial markets; or, alternately, they can delay the normalization process at the risk of creating an even greater debt bubble down the road. That course of action would lead to even greater market disruption when that bubble eventually bursts as it will inevitably in the end do.

    http://www.aei.org/publication/the-bis-and-the-global-debt-bubble/

  • marlene

    The election of President Trump came as a surprise to the players in this financial ‘game’ and put the brakes on some of it. I am not ready to call Chicken Little and believe most of this is hype – it sells.

    • SoCalBeachDude

      Actually the US stock markets went WILDLY UPWARDS after the election of Donnie as Prexy with IRRATIONALLY EUPHORIC OPTIMISM that a new era of wild irresponsible federal government spending and tax cuts would ensue and now it is very apparent that will not be happening.

  • aldownunder

    Settle down dude you’ll pop a poople valve if you keep going
    you’ll do anything to defend the Fed and auntie Janet

    • Stuey

      Yeah, he defends the Federal Reserve. But yet he is on here slamming Janet. What the heck? He does so much double talk you can’t keep track of it all.

      • SoCalBeachDude

        You are just about as clueless as they come, dude, and want to see everything as either black OR white, but that is simply not how people or the world work at all. Attempt to get a clue.

        • BS1986

          Up voting your own comments is sad.

        • Stuey

          Attempt to explain it in your colorful terms so all us “morons” can understand it. But once again, all you did was insult and double talk, you never prove your case.

  • GSOB

    “Federal Reserve Chair Janet Yellen is quite convinced that the United States will not experience another financial crisis for a very long time to come. In fact, she is publicly saying that she does not believe that another one will happen “in our lifetimes”.” –

    Broad confident statements like that are what I’ve learned in 50+ years of living, have come to see them as tell signs, an indicator that something ‘other’ is about to unfold.

    They have a kindness that kills because they care about you.

    • SoCalBeachDude

      Well, dear Janet is a bit deluded as to that point and is bordering on extremely irrational exuberance and should have clarified that she regards a “financial crisis” as strictly limited to the very well run regulated US banking system.

      • Stuey

        The head of your beloved Federal Reserve is “a bit deluded”. Wow, what does that say about the Federal Reserve and it’s policies then?

        • aldownunder

          And it’s no.1 fan SCBD

        • SoCalBeachDude

          Janet Yellen does not make any decisions unilaterally at all at the Federal Reserve and is simply one of the 7 members of the Board Of Governors and one of the 12 members of the FOMC (Federal Open Market Committee) which is comprised of the 7 member BOG plus 5 of the 12 Federal Reserve Regional Bank Presidents and all policy decisions of any sort at the Federal Reserve are made by CONSENSUS OF THE FOMC.

          • Stuey

            So the head is a bit deluded, but all the rest of the members are smart as a whip, just like you. I get it now.

  • SoCalBeachDude

    The Federal Reserve only owns less than 14% of the total $20 trillion in US Treasuries outstanding for a total of around $2.5 trillion and is now in the process of reducing those holdings by about 50% between now and the end of 2018 down to only around $1.2 trillion.

    The Federal Reserve did NOT RUN UP A SINGLE PENNY OF THE FEDERAL GOVERNMENT DEBT but rather 100% of it was run up by CONGRESS AND THE WHITE HOUSE who appropriate and sign the spending bills into law and it is THEIR PROFLIGACY WHICH HAS CAUSED 100% OF THE GOVERNMENT DEBT WHICH IS OWNED BY ITS CITIZENS WHICH THEY REPRESENT.

    Only a small portion (14%) of the US government debt is owned to the Federal Reserve amounting to about 14% and about to go to around 7% is owed to the Federal Reserve and THAT IS INTEREST FREE TO THE US TREASURY as the Federal Reserve rebates more than 94% of its annual profits to the US Treasury and has done so for its entire 103+ years of existence.

    The largest portion of the US government debt is OWED TO THE US GOVERNMENT ITSELF and specifically its various agencies with the largest owners being the Medicare and Social Security Trust funds to the tune of around $6 trillion.

    There are MILLIONS OF OWNERS OF THE US GOVERNMENT DEBT OF $20 TRILLION WHO HOLD THAT DEBT AS ASSETS and attempting to wipe out that debt by not repaying its owners would result in the DESTRUCTION OF $20 TRILLION OF ASSETS INCLUDING THE ENTIRE MEDICARE AND SOCIAL SECURITY TRUST FUNDS. Not to mention banks, insurance companies, pension funds, money market funds, foreign holdings, and a vast array of other holders including millions of individuals in the USA and abroad.

    Any such action would render the credit of the USA TOTALLY DESTROYED and make it unable to borrow at all in the credit markets as it would have defaulted on its debt and created the BIGGEST DEFAULT CATASTROPHE EVER SEEN IN THE HISTORY OF THE WORLD.

    • Stuey

      Yeah and President Trump is trying to fix this, with the first step being the balance budget he recently submitted. But yet, you slam him everyday. You talk out of both sides of your mouth. You prefer Moonbeam who will only spend more and increase the debt even higher.

      • SoCalBeachDude

        Laughably false. Duplicitous Dufus Donnie is TRYING TO DO JUST THE OPPOSITE and vastly worsen the federal deficit by doing vastly more federal government spending while lowering taxes and that BS is not going to fly at all and will be totally rejected while the US continues to run a $1+ trillion a year federal deficit which is now worsening dramatically.

  • SoCalBeachDude

    Very little of the total $67+ trillion outstanding debt in the US has anything to do with the Federal Reserve or regulated banking system in the US which only has about $14 trillion of funds for all of the 6,000 member banks.

    Much of that DEBT outstanding has to do with MONEY BORROWED IN THE BOND MARKETS THROUGH THE ISSUANCE OF SECURITIES which has nothing whatsoever to do with the Federal Reserve and is totally outside the scope of regulation of the Federal Reserve and is regulated by the SEC (Securities and Exchange Commission).

    Within the $14 trillion regulated banking system the outstanding loans to customer deposits ratio is a record low 67%.

    There is around $25 trillion sloshing around in the SHADOW BANKING SYSTEM which is nearly 6 times as much as the balance sheet of the Federal Reserve and double the amount of the US M2 money supply.

    The breakdown of the $67 or so trillion of DEBT outstanding is approximately as follows by big picture category:

    30% Federal Government Debt
    20% Total Consumer Debt
    23% Total Corporate Debt
    27% Other debt including Municipalities

    The federal government debt is presently around $20 trillion, Total consumer debt is around $12 trillion which includes about $1 trillion in consumer unsecured credit, $1 trillion in vehicle loans, $1.4 trillion in student loans, and about $8.64 trillion in real estate loans secured by mortgages.

    The total corporate debt is around $14 trillion with a large percentage of that outstanding on corporate bonds which now have average interest rates of around 8.83%. The balance is a mix of all other types of debt outstanding with the largest portion of that $16 trillion being municipal bonds issued by state and local authorities and agencies.

    • GSOB

      crash…. can’t be paid… have to borrow more to stay afloat….

      • SoCalBeachDude

        No, credit is now being TIGHTENED AND CURTAILED just as the BIS has requested a central banks to do in order to avoid a much more severe downturn in the future. The short term pain is necessary to limit the longer term danger any further credit expansion.

        The BIS and the global debt bubble

        http://www.aei.org/publication/the-bis-and-the-global-debt-bubble/

  • SoCalBeachDude

    Next global financial crisis to hit with a ‘vengeance’, warns BIS

    The global economy is caught in a permanent trap of boom-bust financial cycles. This deformed structure is becoming ever more corrosive and dangerous as debt ratios rise to vertiginous levels, the world’s top monetary watchdog has warned.

    The Bank for International Settlements said the rot in the global monetary system has not been cut out since the Lehman crisis in 2008.

    The current ageing and unstable cycle could finish in much the same explosive way, contrary to the widespread belief that it was a once-in-a-century event caused by speculators.

    “The end may come to resemble more closely a financial boom gone wrong, just as the latest recession showed, with a vengeance,” said Claudio Borio, the BIS’s chief economist.

    http://www.telegraph.co.uk/business/2017/06/25/next-global-financial-crisis-hit-vengeance-warns-bis/

  • SoCalBeachDude
  • SoCalBeachDude

    Push on with the ‘great unwinding’, BIS tells central banks

    http://www.reuters.com/article/us-cenbank-bis-report-idUSKBN19G0EX

  • SoCalBeachDude

    The BIS (Bank for International Settlements) is the central bank of central banks and has seen enough and more than enough of central bank expansionary policies around the world and has ordered a crack down on further credit expansion to avoid massive future problems with runaway credit conditions now visible throughout the world. There are 196 countries in the world (counting Taiwan which is actually part of China), and 193 of those countries have their own central bank. To learn more about the BIS and what it is and what it does, see:

    http://www.BIS.org

    • Stuey

      So the BIS is more powerful than your beloved Federal Reserve.

      • SoCalBeachDude

        The Federal Reserve is merely one of the 193 central banks in the world and the BIS is the central bank of central banks. The function of central banks is to handle national interbank clearance of transactions and the functions of the BIS is to handle global interbank clearance of transactions. What is not clear about those facts?

  • Bruce

    “The fundamentals are strong” was spoken by our last fed chairman and then as soon as he cleared his throat the bubble burst and became the 2008 catastrophe. She no more believes what she is saying than I do! She’s a puppet and she will dance to the tune she is given.
    I pay 261 per month for house insurance and coverage on two vehicles. My wife nor I have any tickets, no claims or at fault accidents. No DUI’s in our past or any such foolishness. No claims on the house insurance either. Nor do we live in a flood zone. Yet, my insurance has gone up and average of 20 per month for the year for last four years. The middle class is absolutely being squeezed out of existence.
    So, the question is why. What does anyone have to gain if we are gone? The answer is that if we are gone then the remaining two types will be the rich who will rule and the poor who will oppressed and trotted upon.

    • SoCalBeachDude

      Insurance premiums for cars and houses are nearly identical to what they were 20 or 30 years ago despite the fact that values of both cars and houses are up tremendously, and no homeowner policy has any coverage whatsoever for flood damage which must be insured separately on NFIP (National Flood Insurance Program) policies on which the rates will be rising dramatically as that federal program is totally insolvent.

      • billtheguy

        When the housing prices plummeted in 2008/2009 my insurance did not go down. My house lost 40% of its value. It’s the replacement value that keeps it high, loss of use, and the contents.

        • SoCalBeachDude

          You must not be aware that insurance companies INVEST PREMIUMS TO EARN RETURNS and that they LOST BILLIONS OF DOLLARS in the market dips back then. Replacement costs to repair damaged structures did not change at all just because the market value of your house dropped, and land value is never insured and the biggest part of the market price of your house is land value.

      • sharonsj

        I could not find any info on insurance premiums back then, but here is what a new car cost in 1975 ($3,800) compared to what it costs now ($31,250). So it is not possible that the insurance rates would have stayed the same. Ditto for a house ($48,000 back then and $270,000 now) simply because the old rates would have been insufficient.

        • SoCalBeachDude

          The prices of cars are a VERY SMALL FACTOR in automobile (vehicle) insurance pricing and the biggest part of premiums is for LIABILITIES TO OTHERS including property damage and bodily injury for which the limits haven’t changed hardly at all over the past 40 years and are still typically a split limit of $100,000 per person and $300,000 per accident on bodily injury liability.

          Moreover, every policy is rated primary on DRIVER FACTORS such as age, sex, driving record, miles driven, and the use of the vehicle which ranges from pleasure (personal) to business use.

    • JC Teecher

      Refuse to play the game Bruce. Start a program to rid yourself of the imprisonment of high insurance costs as well as high, over valued and ever increasing tax burdens.

      Here is the key mantra for doing just that, and it is pretty simple….”Shop & Drop”.
      Shop for cheaper insurance deals, programs, higher deductibles and such, and…….
      Drop your standards of living, such as a smaller home with less land attached, and/or older vehicles without collision insurance.

      I know it is going against everything we have been indoctrinated to accept and expect, but hey; no one lives forever and this old world ain’t gonna be here too much longer in this fascist/socialist state of affairs, so why worry about trying to maintain such a high standard of living?

      In retirement, with a fixed income, these two things, insurance and property taxes, will eat you out of any chance of quality and dignity of senior living. Don’t play into the hands of the Beast System.

      If you are paying 261 per month just for insurance, you are probably paying that much or more per month for your property taxes as well.

      I can’t imagine paying out over $500.00 per month for property insurance and taxes, on a fixed income, unless one has millions to burn through, or owns a never ending cash cow business. In either one of those scenarios, a person is not middle class.

      • SoCalBeachDude

        Insurance costs across nearly all of the 21 or so lines of insurance are at NEAR RECORD LOWS.

  • SoCalBeachDude

    Janet’s rather inane and clueless remark is a lot like one made by Irving Fisher a few years ago in the time machine…

    “Stock prices have reached what looks like a permanently high plateau and can only go UP from here…” — Irving Fisher, September 1929

    And then the markets did go UP…

    UP in SMOKE and FLAMES!

  • Bill

    Great discussion, wish I had time to join, but busy prepping. The simple life creates pleasure by being able to survive.

    Beware of “circumstance creators”………they are the minipulators, not the fixers.

  • D.R.Phantom

    Her statement is relying on the upcoming destruction of Russia and subjugation of China. Once that dirty job done, Americans, as a single global power, will reset the world economy to default and the debt of trillions of Dollars would be brought back to ‘zero’.
    The question is what Russians and Chinese have to say about the marvelous plan of the world elites? I can only guess …

    • Paul Patriot

      Not gonna happen…the elites want America destroyed as a super power and its Constitution done away with.

      • D.R.Phantom

        America comes last … then global tyranny to the end of eternity.

      • JC Teecher

        Gonna happen, and not one American Military will be in the battle. You ain’t gonna be raptured away either.
        We can’ t allow you to miss all the fun. It will be almost as big an event as Noah’s Ark and the Flood.

        • SoCalBeachDude

          Get a clue dude.

        • Gay Veteran

          find that ark yet?

      • SoCalBeachDude

        Absolutely false.

    • JC Teecher

      First, there come a war against America, actually intended against all of North America.

      Both of those countries plus coalitions from the islamic states, mostly Iran, will travel the newly constructed tunnels under the Bearing Sea to set up a massive encampment of equipment and personnel, to invade America, and take it over. It will not happen under Trump, so there is nothing to worry about. There is nothing to worry about anyway as God will do the killing as presented in Ezekiel 38/39.

      A liberal gov admin will be in place in the future to set the stage with either Putin, or his much worse replacement, to take over US of A, so the liberal One Worlders, like yellen, and her many accomplices, can achieve their goal of World dominance and have their hooves on top of every man, woman , and child.

      Something will happen in the good ole Americas to cause such chaos that we will never see it coming, and the media will not have any idea about what is being plotted in the Alaska Wilderness, until; It is happening and the balls of fire and ice are crashing down upon those armies to destroy all but 1/6th to flee like moles back underground into their massive tunnels under the sea bed.

      • Zlatko Milanovic

        Where do the moon bases you mentioned fit into the story?

        • JC Teecher

          When the locust army comes upon the earth, and you sheet yer little britches from fear.

          • Zlatko Milanovic

            Ya, that would be scary; a locust army from the moon…

      • D.R.Phantom

        Uh … oh … . So, a tunnel is in question!? Extraordinary perspective, may I say.

        • JC Teecher

          They, the Russians have built three such tunnels at an estimated 69 million in US dollars.
          Don’t ask for documentation cause I can’t divulge my sources.
          People won’t believe it until it is happening and they see the results on all the mainstream news agencies; but it is a few years away yet, and maybe even a decade. but it is coming as God has spoken it.

          • Gay Veteran

            get back on your meds!

      • SoCalBeachDude

        So laughably false as to be mind boggling.

      • Jim

        I believe Dumitru Duduman’s prophecy that America will be destroyed in one hour by Russia and a coalition of countries that join her.

        • JC Teecher

          Very well possible, and God is on the Throne.
          However; as I try to align prophecy with modern day current events, and then discern with help of the Holy Spirit, where we are situated within that prophecy as a society and within time limitations as well; I see coming events that are directed at the House of Israel, and the House of Judah.

          As written in Ezekiel, our Heavenly Father makes the cases for both houses.
          Primarily, we know that the house of judah is found in the “land/nation” of Israel, and the house of Israel/Ephraim/ten tribes, is mostly, through migrations, in North America.
          All the coming events concerning the Russian led federation of invading armies, do not “fit”, try as we may, to align against the house of Judah for this coming battle. The battle of Armageddon does align precisely without any doubt, to the land in Israel, and is primarily led by an Asian invading army, with Turkey, etc, etc.

          Why do I believe that North America will not be destroyed?
          Because: God promises “emphatically” that He “will” do the work of killing of 5/6ths of that federation army.
          Why? So that North america that has become a large part of Idol worshipers and Sodomite appeasers, as well as murderers of innocent babies in the womb, will see His Mighty Hands at work, and know for a definitive fact, that he is still on the Throne and is expecting these descendants, (primarily) of the scattered ten tribes, to accept Him as their one and only God.

          He says He will be their God, and they will be my people. Some theologians and prophecy teachers say this event will not happen until right before, or at the same time of Armageddon.

          I say what about the verse that speaks of a seven year time frame for removing and utilizing the remnants of the implements of war brought into North America/Alaskan wilderness.
          Was this time frame shortened as well?
          Was it given as an indication of spiritual completeness, as in using the number seven, or as an actual, literal seven year period to follow.
          If it is the latter, of which I believe to be the case, then there is no way that the Armageddon event coincides at the same time or very close.
          Armageddon is the final event and when Jesus Christ has returned, defacto.

          • SoCalBeachDude

            By the “Throne” do you mean the one in the bathroom is occupied?

          • Gay Veteran

            jesus, STILL obsessed with Teh Gays.
            get back on your meds!

        • SoCalBeachDude

          What laughably bogus stupidity.

      • Gay Veteran

        “…Both of those countries plus coalitions from the islamic states, mostly
        Iran, will travel the newly constructed tunnels under the Bearing Sea to
        set up a massive encampment of equipment and personnel, to invade
        America….”

        you need to REALLY get back on your meds

    • SoCalBeachDude

      What absurdly false and laughably stupid nonsense.

      • D.R.Phantom

        Laugh on, my friend, laugh on … 🙂

  • Zlatko Milanovic

    Either way, keep prepping. Save your money, make a list of vital preps and purchase as you’re able. Keep going, if nothing happens, then you can go through your supplies when you’re older or when they are set to expire. Gold. Antibiotics. NBC suits and masks. Boots! (often overlooked), food, sanitation supplies, seeds, etc. Got clean water?
    There’s a lot to consider.

  • jakartaman

    She just delivered the Kiss of death

  • John

    The Bible says we will reach a point where it will take a day’s wages to buy a few loaves of bread. We already see that in Venezuela, Zimbabwe, and to a lesser degree in Greece. I believe this will spread across the earth because Bible prophecy is 100% accurate. You can find more and how to prepare at its his story.

    • chris

      Hyperinflation then. Would be consistent with what we know of how central Banks currently operate to devalue the currency in order to prop up assets and screw over savers.

      • SoCalBeachDude

        Absolutely false, and the Federal Reserve has NEVER had anything to do with interest rates paid to savers except to set a MAXIMUM of 5.50% when Regulation Q which was part of the Glass Steagall Act of 1934 was still in effect.

    • SoCalBeachDude

      Laughably false. The term inflation relative to economies didn’t even come into use until 1937 and the so-called “bible” was written nearly 2,000 years prior to then.

  • LIZ THE SHIZ

    Janet, how dare you go against the BIS, they are the most elitist financial organization on the Earth and do the bidding of the super elite globalist’s and for Satan himself , for shame

    • SoCalBeachDude

      The BIS (Bank of International Settlements) is a very intelligent and wise and conservative central bank of central banks and what they have clearly stated to all central banks is 100% correct.

  • MathCapitalist289

    The algorithms I am modeling during this summer break have a kill switch that will perform certain undisclosed trades if prior to a large correction. As they say, work smarter, not harder. More accurately: create AI, sit back and relax, with the occasional alteration. Meanwhile traditional traders, i.e. humans, will wonder cluelessly why they never tried math after “the teacher introduced the alphabet…”

    From Fortune Plango Vulnera, in English:
    I bemoan the wounds of Fortune
    with weeping eyes
    the gifts she gave me
    and perversely takes away.

    It is written in truth
    that she has a fine head of hair,
    but, when it comes to seizing an opportunity
    she is bald.

    …though I may have flourished,
    happy and blessed,
    now I fall from the peak,
    deprived of glory.

    • PocoPete

      How do your algorithms determine if a large correction is about to take place?

  • Stuey

    So to get this straight, socalbeachdude thinks Yellen is an idiot and admits the Federal Reserve can not stop any financial downturns and have little effect on the economy but yet they are a great central bank. What a bunch of double talk, typical of him.

    • JC Teecher

      It’s never ending Stuey.

      • SoCalBeachDude

        Yes, REAL FACTS are never ending, so why are you still lost in a murky sea of bogus delusions?

    • SoCalBeachDude

      You once again have major comprehension issue and want to believe that everything in the world is black OR white, but that certainly is not the case at all in our wonderful world with many colors and infinite shades in between.

      • Stuey

        Then explain it in your colorful double talk so everyone can understand just what they do and how great they are despite the head being an idiot which you already admitted.

  • ollie173

    LOL…LIKE SHE KNOWS WHAT SHE’S TALKING ABOUT!

  • Richard O. Mann

    I want some of those drugs that Yellen is on.

    • JC Teecher

      I see her type every day I go out on the roadways.

      Grannies spaced out of their gourd on over medications.
      They drive erratic and then throw in a little of the pre-alzheimer’s, and boy it gets really scary when you start noticing these blue haired ladies barely missing objects, being my vehicle as the most important at that moment.

      Sadly, too many children allow their elderly mothers and fathers to drive way past the point of them being a danger.
      We had a similar situation with mother.
      We knew she was making up new words, and being forgetful at times but I never knew how bad it was because at that time I was anywhere from L Angeles, to St.Paul, to Tampa or Houston, and all points in between.
      Being the eldest of all my siblings, and the most concerned about highway safety, I was almost floored when I heard from our neighbor about what had transpired with her in her car.

      Halfway down the mountain, she was stopped in the middle of the road and just sitting in her mustang, revving it up wide open. The nice and compassionate neighbor stopped and asked her what seemed to be the problem, and she exclaimed that all she knows is that the car stopped, and would not go forward again.

      She was frantic, and anyone could reason why, for whatever reason, we don’t know, because there was no house or driveway within a half mile of her vehicle.
      she had stopped, for some reason or for maybe something crossing the road, as she could not remember stopping and putting the car in PARK.
      The nice man told her to stop revving the engine, put her foot on the brake pedal, and put the car in drive.
      He had to show her what to do, and asked that she turn around, as he would follow her back to her house.
      We took her car keys away when I got home off the road and heard this had happened.

      • SoCalBeachDude

        And that rant has exactly what to do with financial crises and/or the Federal Reserve?

        • Zlatko Milanovic

          He’s kooky man. Bed bug nuts. Phoney too.

          • SoCalBeachDude

            Yep.

  • travis690

    Not to sound morbid about this, but is Janet Yellen saying she expects to meet the grim reaper soon?

    To place such a vague limit upon the chances of another financial crisis isn’t very comforting, and I have no expectation the circumstances will show her to be correct.

    She was still an economist when the last financial crisis occurred, yet even she admitted there was 100% unanimity in 2007 that the world wasn’t on the precipice of a crisis. She still hasn’t expressed any knowledge of the signs she would look for that would signal another financial crisis. I must be missing the evidence that she’s grown while in the job, because she thinks the right thing to do now is to raise interest rates while the recovery is just starting.

    Maybe she was dealt a bad hand by Bernanke, but her idea of raising interest rates now is not going to be beneficial to anyone but the banks.

    • JC Teecher

      “Yelling” is just another pawn. When will people start getting the picture. Nothing happens without prior approval by the five or six families that control everything within the geo political/economic realm around the world.
      Janet Yelling softly; is just more chin music and spin that she is “allowed”, by the powers that Be.
      Rothschilds are just one such family that controls all banking.

      They do show their hand of cards, to their elite followers, with hidden messages. This may just be one, so that the elite can get their ducks in a row, for the coming slaughter.
      Pay close attention to signs, wonders, and slick little messaging, and you folks can pick up on the insiders cues to their cohorts in crime.

      • SoCalBeachDude

        The Rothschild family has nothing whatsoever to do with the Federal Reserve. Get a clue dude.

    • SoCalBeachDude
  • alan

    Janet Yellen’s job is to keep a thick coat of polish on that turd. Well actually many people want that thick coat of polish too. Let someone else yell fire, then blame them for the problems.

    • Evan Elliott

      Exactly. She has a job to do, and that job is to perpetuate the lie so that people who are asleep stay that way. She was chosen because, after all, why would a sweet old lady be an evil liar? The Fed has had their hand in all of this, she is nothing more than a shill for them this entire time. That is, after all, what she was sent to do.

      • SoCalBeachDude

        Laughably false, and I would suggest you learn about what the Federal Reserve does and doesn’t do as a central bank at:

        http://www.FederalReserve.gov

    • SoCalBeachDude

      Absolutely false and absurdly stupid assertions.

  • Arthur Wholeflaffers

    Yellen is completely off her rocker. The potential for a monetary collapse could happen so quickly, she wouldn’t know what hit her. My guess is that there is a 55% chance that will happen by the end of 2017.

    • SoCalBeachDude

      No, there is no potential for any “monetary collapse” at all especially as relates to the US dollar, but there is a clear potential for ASSET COLLAPSES which axiomatically raise the purchasing power of the US dollar dramatically.

      That is already happening in commodities and has been the case with commodities for the past 6 years and is now starting to happen with equities (stocks) and real estate.

      It’s been an ugly first half for commodities in 2017

      http://www.marketwatch.com/story/its-been-an-ugly-first-half-for-commodities-in-2017-2017-06-29

      US MARKET CLOSINGS: 2:53 PM 6/29/2017

      Dow 21,287.03 -167.58 -0.78%
      S&P 500 2,419.70 -20.99 -0.86%
      Nasdaq 6,144.35 -90.06 -1.44%
      GlobalDow 2,775.64 -11.69 -0.42%
      Gold 1,245.60 -3.50 -0.28%
      Oil 44.87 0.13 0.29%

      http://www.MarketWatch.com

  • JC Teecher

    It is a sad day in American history, when only 24 demoncrats will cast a vote for a bill that helps keep highly dangerous illegal aliens from entering out borders, and eliminating them from being set free to murder….aka Kate’s Bill.

    Only three, which surprises me that it got any demoncrat votes, for the punishment on “Sanctuary Cites” for not upholding Federal Laws to hold /detain criminal aliens. shut off the spigot of Taxpayer Funding, and let the chips fall where they may. Cut the funds! Slash the Funds! Let the Demoncrat led sanctuary cities hire illegals to do their LE work, and see what they get.

    Hip, Hip, Hooray! The dividing lines are being drawn and the liberals are being exposed everywhere. Remember, what the owner of this site said…”Everyone has an agenda”…..and we are getting a clearer picture of what his would be as a sitting representative. ツ)

    • aldownunder

      I wonder how long this comment will last?

      • SoCalBeachDude
      • JC Teecher

        Yea me too. I don’t know what other people think about all this but it doesn’t sit well when someone is so adamant about keeping me hushed, but allows the likes of Snottly to keep calling my innocent wife a whor, and then he also supports the pizz ant sCbdud that upvoted her for saying my wife is a whor.

        This is the kind of actions of someone that is not fit to sit in on law making, in my opinion.

        • JC Teecher

          Did you see where she said she hoped I would die soon?

          • aldownunder

            Yeah it makes you wonder
            I too have had comments deleted for very minor criticism of the author and then I see vile comments that should never be passed stay………hmmmmmm

  • SoCalBeachDude
  • SoCalBeachDude

    Global borrowing hits record as central banks prepare to tighten credit

    http://www.reuters.com/article/us-emerging-debt-iif-idUSKBN19J1Z9

  • SoCalBeachDude

    End of easy money? Surging euro, bond yields say yes

    http://www.reuters.com/article/us-global-markets-idUSKBN19K031

  • Jeri Brace

    Janet stop lying!

  • Rich99

    I agree with Janet

  • SoCalBeachDude

    Yes, Ms. Yellen…There Will Be Another Financial Crisis – Lance Roberts

    Janet Yellen, Federal Reserve Chair, recently stated;

    “Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will.”

    That is a pretty bold statement to make considering that every one of her predecessors failed to predict the negative consequences of their actions.

    Will there will be another “Financial Crisis” in our lifetimes?

    Yes, it is virtually guaranteed.

    The previous “crisis” wasn’t about just “an asset gone bad,” but rather the systemic shock caused by a “freeze” in the credit markets when Lehman Brothers filed for bankruptcy. Counterparties evaporated, banks froze lending and the credit market ceased to function.

    Credit, not the stock market, is the “lifeblood” of the economy.

    https://realinvestmentadvice.com/yes-ms-yellen-there-will-be-another-financial-crisis/

  • richjerk1929

    there is no housing bubble…. Ben Bernanke.

    • SoCalBeachDude

      There actually WAS NO HOUSING BUBBLE as prices today, 10 years later are VASTLY HIGHER THAN EVER in the USA particularly here in California.

  • J.j. Cintia

    The whole state of Illinois just went belly up. Right after Puerto Rico. Who is this we? Not Americans apparently. That Federal Reserve there needs to burn down.

    • SoCalBeachDude

      The Federal Reserve has NOTHING WHATSOEVER to do with the financial matters in either the territory of Puerto Rico or the State of Illinois. Hellllooooooooooooo?

      • J.j. Cintia

        So you’re trying to get people to believe that the Private Bank of Rothschild and Rockefeller have NOTHING to do with finance when they issue and control the World Reserve Currency? Where did they find you troll? You suck.

        • SoCalBeachDude

          Your utter ignorance regarding the Federal Reserve is beyond mind boggling. It is simply the central bank of the USA and does not engage in any transactions whatsoever with states or territories within the United States but rather only deals with the 6,000 or so member banks of the Federal Reserve in the United States.

          Each and every year the Federal Reserve rebates more than 94% of its profits to the US Treasury just as it has done for every year of its 103+ year existence. The member banks are all US banks and receive a 6% annual dividend and there are around 6,000 member banks in the United States.

          Who owns the Federal Reserve?

          The Federal Reserve System is not “owned” by anyone. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest.

          The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking “system” has three important features: (1) a central governing board–the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.

          The Board of Governors in Washington, D.C., is an agency of the federal government. The Board–appointed by the President and confirmed by the Senate–provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. In addition, though the Congress sets the goals for monetary policy, decisions of the Board–and the Fed’s monetary policy-setting body, the Federal Open Market Committe–about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government.

          Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District’s Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System.

          https://www.federalreserve.gov/faqs/about_14986.htm

          • J.j. Cintia

            Public interest? Buzzwords huh? Like Andy Jackson or Old Hickory said, its a damnable den of thieves. Its part of old man Meyer’s Monopoly Money scam. The Red Shield of Usury and Theft. The den of iniquities, and the source of evil. The bankster gang that incites hatred and makes wars for profits. You’re in over your head Skippy. Go play in your sandbox.

          • SoCalBeachDude

            Your assertions are so stupid and false as to simply not even merit any further response to you at all. The Federal Reserve is a superb and extremely clear and transparent CENTRAL BANK WHICH REBATES 94% OF ITS PROFITS EACH YEAR TO THE US TREASURY. I would suggest you learn about the Federal Reserve System at:

            http://www.FederalReserve.gov

          • J.j. Cintia

            I doubt the Parliament of Whores and the fake goobermint has any truthful information. Like how we’re in Afghanistan for Heroin, and that Heroin was why we went to The Nam. No it should be obvious to most people by now, that everything the Media, Academic and Government Complex has told them was a lie. Its not a theory, its observable reality.

          • SoCalBeachDude

            If you are incapable of comprehending the facts regarding the Federal Reserve as clearly stated, and want to rant on about endless nonsensical conspiracy theories which have nothing whatsoever to do with the Federal Reserve, then I would suggest you seek out professional mental help ASAP for your own sake. Sad.

          • J.j. Cintia

            Yeah OK. Do you get paid by the comment? You spend a lot of time doing this troll. Don’t get “conspiracy theory” on me. You’re not Intelligence or government. You’re one of those low rent Soros trolls. Your hours and numbers of comments tells me you must be a lowly hireling of one of Soros’ NGOs.

          • SoCalBeachDude

            What totally bogus and false nonsense.

            What is your problem with comprehending the clear and direct facts as I stated in great factual detail?

            I couldn’t care less about George Soros and have nothing to do with him in any way whatsoever. If you really “believe” the kind of nonsense BS assertions you are putting out, then I would strongly suggest you seek out professional mental help.

          • J.j. Cintia

            Ah, are you mad? I didn’t tell you to take this gig. It must be hard to get by nowadays. However, you are on this board like you live here. No one seems to notice you, and you post the most comments anyway. That’s a tell. You don’t get a lot of notice, but you feed the party line and narrative into every threatening threat. I imagine you get paid about $12 an hour and have to meet a quota of posts. So don’t blame me sport. I know the real deal. That drivel sounds like something out of a folder they gave you.

          • SoCalBeachDude

            You are about a clueless as they could possibly be making such laughably absurd, false, and stupid assertions. As I said, seek out professional help as you appear totally unable to comprehend facts.

          • DigitalThumb

            Just block him I have, makes the board easier to read.

  • mtntrek3

    Yellen said more or less the same while chair of S.F. Reserve before the ’08 crash. “If there’s a recession…it’ll be a mild one”. She’s just another talking head of the Fed. Basically it’s more of the band plays on while the ship goes down.

  • HE WILL NOT DIVIDE US

    Dr. Yellen looks like a midget witch

    • SoCalBeachDude

      And how would you describe how you look?

  • SoCalBeachDude

    DOUG NOLAND: The Road to Normalization

    While headlines somewhat paraphrased Yellen’s actual comment, “We Will not see Another Crisis in Our Lifetime” is reminiscent of Irving Fisher’s “permanent plateau” just weeks before the great crash of 1929. While on the subject, I never bought into the popular comparison between 2008 and 1929 – and the related notion of 2008 as “the 100-year flood”. The 2008/09 crisis was for the most part a private debt crisis associated with the bursting of a Bubble in mortgage Credit – not dissimilar to previous serial global crises, only larger and somewhat more systemic. It was not, however, a deeply systemic debt crisis akin to the aftermath of 1929, which was characterized by a crisis of confidence in the banking system, the markets and finance more generally, along with a loss of faith in government policy and institutions. But after a decade of unprecedented expansion of government debt and central bank Credit, the stage has now been set for a more systemic 1929-like financial dislocation.

    As such, it’s ironic that the Fed has branded the banking system cured and so well capitalized that bankers can now boost dividends, buybacks and, presumably, risk-taking. As conventional central bank thinking goes, a well-capitalized banking system provides a powerful buffer for thwarting the winds of financial crisis. Chair Yellen, apparently, surveys current bank capital levels and extrapolates to systemic stability. Yet the next crisis lurks not with the banks but within the securities and derivatives markets: too much leverage and too much “money” employed in trend-following trading strategies. Too much hedging, speculating and leveraging in derivatives. Market misperceptions and distortions on an epic scale.

    http://creditbubblebulletin.blogspot.com/2017/07/weekly-commentary-one-gargantuan-trade.html

  • SoCalBeachDude

    As to the so-called “homeless” in Los Angeles County, they may total 58,000 out of the more than 13,000,000 people living in Los Angeles County but that is less than 0.04% of the population in Los Angeles County which is miniscule. Nobody is who claims to be “homeless” is allowed to sleep in any public areas of the County including parks and beaches and the same prohibition applies to all neighborhoods in Los Angeles County. Nearly all of the so-called homeless are mentally ill or drug-addicted and are grossly irresponsible as there are an array of social programs at the State of California, County of Los Angeles, and federal levels which ensure that nobody would be “homeless” here in California if they properly apply for readily available public assistance.

    • PocoPete

      Something is wrong here.
      Wouldn’t it be 0.4% (instead of 0.04%) ????

      (58,000 / 13,000,000) * 100 = 0.44615%

      • SoCalBeachDude

        That is correct, and thanks for confirming that 99.6% of the folks in Los Angeles County are not in any way “homeless” at all.

        • PocoPete

          Many times you have posted “Everything I state is always 100% true, accurate, and correct.”
          Please do not ever say this again.

          • SoCalBeachDude

            The substance of what I stated is 100% true, accurate, and correct – obviously – despite the tiny little typo of adding a 0 before the 4 in stating that only 4/10 of 1% of the population of Los Angeles County could in any way be classified as “homeless.” Once again, that means that 99.6% of the population of Los Angeles County is not in any way “homeless” which is just 0.4% below 100% of Los Angeles County residents not in any way being “homeless.” Get a clue, dude!

          • PocoPete

            You were not 100% true and accurate. You were off by a factor of 10. Perhaps you should get help from your math teacher before you try to do any calculations in the future.

          • SoCalBeachDude

            A mere typo is irrelevant, Norman. Why don’t you become a “poofreader” and go “poofread” Dufus Donnie’s tweets where you’ll find a treasure trove of typos?!!!

            By the way, Normie, when are you going to ever post a comment here with even the slightest bit of any substance?

          • PocoPete

            If you are going to claim that everything you state is “always 100% true, accurate, and correct” then you should make sure it is 100% true before you post it. A factor of 10 to 1 is a huge difference in what you were trying to argue about.

          • SoCalBeachDude

            What’s a ‘Covfefe’? Trump Tweet Unites a Bewildered Nation

            https://www.nytimes.com/2017/05/31/us/politics/covfefe-trump-twitter.html

          • PocoPete

            There is a huge difference between 1 in 225 people and 1 in 2,250 people. If you want to be a professional journalist you must check what you post for accuracy.

          • SoCalBeachDude

            No, that is miniscule difference and the fact of the matter is that 99.6% of the 13+ million people in Los Angeles County are not in any way homeless, and the error was simply the addition of a zero (0) after the decimal point. How did you ever get to be such a little pedantic so lost in a tree that you can’t see the forest around you?

          • PocoPete

            There is really no excuse for such sloppy and inaccurate postings. A quick glance at what you had posted should have immediately alerted you to the fact that something was very wrong.

  • dang

    Did she show at Bilderberg?

  • MaxRockatansky33

    Trump is a Saudi puppet.

    • SoCalBeachDude

      Nope.

      • MaxRockatansky33

        350 billion dollars in arms deal with wahhabi SA? What about Qatar?

      • MaxRockatansky33

        Are you supporting this ginger-head multi-billionaire Saudi puppet?

        • SoCalBeachDude

          Donnie, as bad as he is, is a whole lot better than vile evil corrupt Hellery!

    • SoCalBeachDude

      Saudi Arabia is a US puppet and the official USA TERRORIST OPERATIVE ALONG WITH ISRAEL in the Middle East.

  • SoCalBeachDude

    Federal Reserve might start balance-sheet drawdown in September, FOMC minutes hint

    The Federal Reserve could trigger a long-awaited move to reduce its massive $4.5 trillion in debt holdings as early as September, but the central bank still appeared unsettled on the timing of its strategy to reduce the scope of its support for the U.S. economy.

    The Fed said last month it would begin to whittle down its hoard of Treasury bonds and mortgage-backed securities some time this year. At a gathering of senior bank officials, “several preferred to announce the start of the process within a couple of months,” according to minutes of the June 13-14 Federal Open Market Committee meeting released Wednesday.

    http://www.marketwatch.com/story/fed-might-start-balance-sheet-drawdown-in-september-fomc-minutes-hint-2017-07-05

    Federal Reserve FOMC Minutes 06/13-14/2017

    https://www.federalreserve.gov/monetarypolicy/fomcminutes20170614.htm

    Federal Reserve Decides How to Do the Big Unwind

    https://www.bloomberg.com/news/articles/2017-07-05/federal-reserve-decides-how-to-do-the-big-unwind-quicktake-q-a

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