Next Market Crash Looms as Yellen Promises to ‘Stay the Course’

February 12, 2014

YELLEN STAYS THE COURSE

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Next Market Crash Looms as Yellen Promises to ‘Stay the Course’

Yesterday morning, new Fed Chairwoman Janet Yellen delivered her first prepared remarks as Fed Chief before the House Financial Services Committee. You can read the entire testimony here, but here are just a few quick takeaways.

  • The new chair of the Federal Reserve, Janet Yellen, promises to stay the course with no abrupt changes in current policy.
  • If the U.S. economy keeps improving, the Fed will take “further measured steps” to reduce its money-printing.
  • Yellen signalled that interest rates would remain low indefinitely.
  • Yellen said she believes the recent volatility in global financial markets does “not pose a substantial risk to the U.S. economic outlook”.
  • ON JOBS: Yellen sees improving U.S. jobs market, but adds that the ‘recovery’ is “far from complete”.
  •  
    WHAT JERRY THINKS: So, Ms. Yellen is “moderately” optimistic about the state of the U.S. economy, but believes we are not out of the woods yet. This is the same line that the Fed has been feeding us since this economic disaster first began unfold several years back. Yellen is a “dove” and will not hesitate to ratchet up the printing presses at a moment’s notice if she feels this “recovery” is in danger of being exposed for the fraud that it is. Both the U.S. and the global economies are in a perilous state. Debt levels remain at unsustainable highs while margin debt on the U.S. stock market is sitting at an all-time high. The U.S. labor market is in dire shape as clearly seen in the last two dismal jobs reports. We all know that the Fed can continue to prop up the markets… but for how long? The next market crash is looming. Check out this chart comparing current U.S. stock market behavior with the lead-up to the Crash of 1929.

    We are in very dangerous territory at current levels. All of our own market analysis is telling a grim story. No dates, no predictions, just a gentle reminder: Despite the hype being pumped out by the Fed, investors should be proceeding with extreme caution because the worst is still yet to come.


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