This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.
Federal Reserve Chair Janet Yellen’s final speech to Congress (Joint Economic Commitee) reminded me of the scene in the movie Death Becomes Her where Meryl Streep swallows a magic potion and Isabella Rosselini then says ‘Now a warning.’
Yes, Yellen warned Congress that they should monitor the US debt load, now at $20.6 trillion, up from $9.5 trillion in Q2 2008. She also called on Congress to adopt policies that will promote investment, education and infrastructure spending.
Yes, US public debt outstanding has more than doubled since Team Bernanke/Yellen began quantitative easing (QE) back in September 2008.
This post was published at Wall Street Examiner on December 4, 2017.