Janet Yellin said inflation is up by an insignificant amount and no concern of hers because she has multiple tools to prevent anything significant. Do you believe Janet Yellin. Sure we all do. Maybe Jan would be more clear eyed if she hadn’t acquired her stash from the money folks and be beholden. Just call me old fashioned.
The Fed was the last group of people to see subprime to be a danger to the economy. They’re also the last to see that inflation is a big problem for the very people they are supposed to help with their policies. But instead their policies are helping mostly the very rich.
Yellen Earned $7.2 Million In Speaking Fees Over Last Two Years
Janet Yellin Secretary of the Treasury
President Joe Biden’s chief of staff retweeted a claim that inflation is a “high class problem” Thursday, dismissing the millions of Americans who are seeing prices for daily necessities spike.
“Most of the economic problems we’re facing (inflation, supply chains, etc.) are high class problems. We wouldn’t have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem,” wrote Jason Furman, a Harvard professor and former member of President Barack Obama’s administration.
It’s just for us little people.
Sure this really worked out
Bonus time…Speaking of economics- how are things going at our ports? A comment from the tweet below indicated this pic could have been taken on Columbus day. All ports were closed for the holiday. I don’t know which would be worse. Closed for the holiday? Give me a break.
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October 18, 2023 at 4:40 am
[…] BONUS TIME from Bunk: Janet Yellin Earned $7.2 Million in Speaking Fees last two years, says inflation insignificant […]
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October 15, 2021 at 6:29 pm
Insignificant to whom? Even without the reckless spending of the prior year, Biden’s actions his first day in office were guaranteed to drive inflation, food prices and heating prices way up. He put his stamp of approval on jacking up energy prices and hence the transportation costs on which everything else depends.
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October 15, 2021 at 6:55 pm
Out of touch with reality… the whole darn cabinet…and here we are.
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October 15, 2021 at 3:27 pm
WAIT! That list is what she got for SPEECHES? Am I getting that…$65,000 for an hour’s speech…plus airfare, hotel, food….(OK, maybe that’s included…big deal).
WHAT??
We are all so angry at all of this…and WHO IS DOING ANYTHING ABOUT IT? If there’s one thing I’ve REALLY learned from this administration is it’s NEVER HAVE AN ALL ONE-SIDED EXEC and LEGISLATIVE BRANCH in charge…….because THEY RULE THE ROOST. And they can even completely destroy a country all on their own.
OK…of course if it was ALL CONSERVATIVE, I’d be okay with it…which is wrong on my part, I get that…but as I often tell friends who say “Z, he’s a liberal, it’s just that HIS OPINION is different than yours….don’t be so judgmental!” I respond “THAT used to be right…it was just a different opinion……today it’s DESTROYING MY COUNTRY, this different opinion, so NO, it is NOT just a different opinion and I believe I have every right to be judgmental”.
I’ll bet a lot of you commenters here at BUnk’s agree… not that anybody but Bunk actually reads my comments 🙂 HA!!
Republicans are moaning and groaning and pontificating and whining…………….so WHAT? SO SO WHAT?
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October 15, 2021 at 3:39 pm
There should be a law that you can’t rake in the dough and figure you can work in top leadership of the government. It is so obvious…. as I said below… she got her “ten” and now the policies will reflect that. What can she offer in her talks that could possibly be worth this amount. Makes Hunter Biden art seem like chump change.
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October 15, 2021 at 8:39 pm
+1
Hah! “Yes, Marx and Hitler had different opinions from me, too. I have the good sense to judge them by their results.”
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October 15, 2021 at 2:09 pm
PPS, that video that shows the trucks sitting around at the docks doesn’t smell right. It look like the trucks are just the tractor part of the tractor trailer rig, and they need a special flatbed trailer to haul one of those offloaded containers on.
Regardless, there are problems at the docks, probably involving drivers and dock workers. Gee I wonder who thought it was a good idea for the USA to get 90% of our stuff from an enemy Communist country….
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October 15, 2021 at 2:47 pm
Especially 90 percent of our drugs…..yes, the thread that went along with the tweet was unsure what was happening… they are trying to unionize the independent truckers the last couple of days..apparently Newsom just changed some rule but too many weeds for me to figure…something about keeping out independent truckers and were not allowed in.
Either way, why were we not open 24 7 pushing out the containers… I am sure our new Papa… Butt head will solve the problemo.
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October 15, 2021 at 3:46 pm
(A comment)
Can’t say its true but something about AB 5
Newsom changed the AB 5 law so now independent truckers are banned from shipping ports.
No wonder there’s a trucker shortage.
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October 15, 2021 at 4:31 pm
Would be par for the course.
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October 15, 2021 at 11:31 am
Just a quick note. back during the ‘financial crisis’ starting Oct 2007, Ben Bernanke, then head of the fed, and his pals were splitting thier sides laughing as they printed up 4.3 Trillion (or more) in what they called QE, which was free money given to the big banks so the banks could have a do over from their failed real estate, monopoly money mortgage paper derivatives losses… Just laugh and laugh away.
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October 15, 2021 at 11:55 am
Seems like only yesterday…. I guess it was “10” for the big lady from the banks these past two years…. paid in full?
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October 15, 2021 at 1:57 pm
Kin I gits some o that thar quantitive easing so’s me and the missus ain’t haffin to be selling no apples on the corner? Well wait a dalgarn minute, them thar apples 🍎 🍏be accostin $10 per lb and three apples in a pound then sell them hmmm $3.33 per apple plus my overhead… why then iffen I sell three pounds of apples I’m a only losing 1 cent plus my overhead. Maybe with my head for numbers I’ll go work for Janet Yellling instead by crackle!
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October 15, 2021 at 2:04 pm
Forget the details Peter. Mustang arranged years ago for Janet Yellen to be his personal house butler and so she does all his housework, free of charge of course, and if he wants her to help you out financially, I’m quite sure he will have Janet forward you some serious cash out of her personal accounts. He’s having her send me enough to buy my Lamborghini Mirua. I expect that $ to show up any day now. I’m very excited.
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October 15, 2021 at 6:19 pm
Nice try, Kid …. Yellin? Not even on the night of my worst binge back in the 60s.
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October 15, 2021 at 7:20 pm
I didn’t allude to any funny stuff there Mustang, housework only and make it snappy.
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October 15, 2021 at 11:28 am
I’m thinking these billion $ companies will accept the fact that they’ve been making out so well for so long that it is time for them to absorb thse cost increases in taxes, fuel, and everything else they have to buy to make their products or provide their services.. They will take one for us dirt people ! And Like it ! As their profit margins head to the sewage treatment plants, Investors will bid up the stock prices of these companies to the Moon ! Our 401K’s will be Overflowing and we will all be able to retire on daily doses of Cavier, Champagne, Super Models,a nd Chippendale Guys (as the case may be). It will be like Heaven on Earth !
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October 15, 2021 at 11:56 am
Sure Kid….What was that special stuff you were smoking? 🙂
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October 15, 2021 at 2:45 pm
While learning about the guns and butter theory in macroeconomics many moons ago who would have thought there would come a day when the president would take away our guns and butter would cost $10 per/lb.
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October 15, 2021 at 11:18 am
I bought my first house with a VA loan, which carried the lowest possible interest rate. I owned it for three years, during which interest rates (but not mine) continued to increase. When I sold my house the buyer did not want the house. He bought it because he could assume the loan, which carried the fantastic low rate of 10.5%. Home loan rates had gone up to 14%+. My present home loan, on about 40% of the current assessed value, is 2.4%, while inflation is 5.4%. Insane times.
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October 15, 2021 at 11:21 am
Whoops, I calculated wrong. The loan is on 22% of the assessed value. We’ve owned it for almost 30 years. Refi’d a couple times for rate, but never added to the mortgage amount in the process.
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October 15, 2021 at 11:58 am
Yes.. I got an 11 percenter back in the day as a first time home buyer and thought I was lucky…
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October 15, 2021 at 11:16 am
President Joe Biden’s chief of staff retweeted a claim that inflation is a “high class problem”
Gad, what a lie!
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October 15, 2021 at 11:59 am
Let them eat cake…. actually they don’t want us eating meat so we shall soon be grub hunting the rate we are going.
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October 15, 2021 at 8:46 am
I get it. When you consider the Middle Classes to be not only insignificant but inconvenient you can easily view inflation as insignificant. Much in the way your brand of bug spray is insignificant if it does the job your choice of destructive agents wielded against the self reliant, independent and critically thinking middle class is insignificant just as long as the job gets done. Destruction.
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October 15, 2021 at 9:32 am
You got right to the point of the matter… once the middle class is done the goal has been achieved… what is left of small businesses after the Covid restrictions will be destroyed by lack of supply… clever…indeed. If that doesn’t do it, inflation will.
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October 15, 2021 at 7:42 am
Odd how we tend to post on similar topics. In my post today, the central topic is Bidenomics (aka inflation caused by a confluence of oil/gas policy, extended worker’s compensation policy, stupid forced vaccination programs where unneeded, resulting poor supply chain decisions, and more).
In one referenced article, it seems Karl Smith and Janet Yellen think that America needs “higher and longer-lasting inflation.
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October 15, 2021 at 7:56 am
Yea, inflation is always temporary…when was the last time we had deflation??
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October 15, 2021 at 7:58 am
From what I read, we should have had deflation during Obama; however, the Fed went into overdrive with printing money and circulating T-bills.
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October 15, 2021 at 8:02 am
By the way, do you remember who was at the head of the Federal reserve during the Obama years? Does “white hair, short, and dumpy” ring a bell?
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October 15, 2021 at 7:28 am
While we have unabashed stupidity belching forth from this administration concerning the growing threat of unbridled inflation all is going as planned at the ports. The marxists behind the curtain are giving high fives with it looking like Christmas may be on the chopping block. Meanwhile I’m worried there may be no corned beef for my St Patrick’s Day dinner. More important than a crumbling economy and crumbling country with crumbling borders is Bubba’s hospital stay. Hot ashes from his cigar must have fell on his presidential pee pee. All is well in the swamp.,
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October 15, 2021 at 7:46 am
However, the good news is that the “Great Uniter” is worried about us being divided on one topic.
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October 15, 2021 at 7:53 am
Peter…The best part is our Transportation Secretary out on Paternity leave for months after a few months on the job…. not that it would matter one bit…Yea, the corn beef trick could be an issue……
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October 15, 2021 at 8:03 am
…and will he be able to juggle ignoring the ports with breast feeding?
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