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.
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.
Just 28 Republicans including House Speaker John Boehner voted for it, and two Democrats voted against it.
China’s exports grew 10.6 percent in January from the year-ago period, compared to a Reuters poll of economists forecasting a 2 percent growth.
Grant calls gold “nature’s bitcoin” because it is “the reciprocal of faith in Central Banks.”
Company warns that the milk industry faces a “very challenging environment” in the first half of 2014, and those challenges are going to be felt all along the food chain.
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No official agenda was released for the talks, which are widely seen as a confidence-building exercise.
Experts: U.S. ‘defenseless’ against high-altitude explosion.
Nearly 2,000 people have flocked to a small town in northern Israel to view a statue of the Virgin Mary that residents say “weeps” oil.
As 3D printing advances at an astonishing rate, will it soon be possible to 3D print a human body?
Authorities don’t have a motive or suspects in the attack on a PG&E power substation in Silicon Valley last year, but ominous theories abound.
Empty shelves in Atlanta merely foreshadow future mass panic in America.
Topic: The time to become financial prepared has never been greater than in 2014. Let’s talk about how YOU can become financially free.
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“Archiving the Rise of Big Brother, the Erosion of Personal Liberty, and the Fall of the Republic”
‘Zombie Hunter’ bullets designed for deadly long range capability.
With a chip under your skin, you can do everything from unlocking doors to starting motorbikes, says Frank Swain, who has been trying to get his own implant.
Amazon drones may make quick deliveries to your house in the future, but the United Arab Emirates government is looking to add similar technology to its skies much sooner — within a year.
Rep. Earl Blumenauer grows frustrated with witnesses’ “inability to answer” direct questions about the real health risks of pot.
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