Mrs Yellen, who has never managed stocks or has any qualifications to give investment advice is telling the world that she has ordained that stocks are reasonably valued and that no bubbles exist. This comes from the same woman who has supported her predecessor’s policies to artificially inflate the Fed’s balance sheet by over $4 trillion and counting. The gall on display is quite something, considering that the policies she has supported have resulted in the nation’s largest income inequality levels ever and the lowest labor participation rates in decades. It is really a shame that someone like her is not held to account.
Well she said it again today and I put this chart up as a reference point. We shall see won’t we?
Categories: Daily Market Brief