Posted on 11/24/2024 3:00:10 AM PST by Libloather
The whiplash-inducing, “Hunger Games”-style race to become Donald Trump’s Treasury secretary made it easy for the media to ignore what has been going on with Janet Yellen — and the absolute mess she’s leaving for her successor.
Yellen — who, it was revealed Friday, will be replaced as Treasury secretary in January by hedge fund mogul Scott Bessent — was Joe Biden’s pick to run the office that is essentially the country’s CFO.
Indeed, it could be the most important cabinet position in the White House given the importance of the US economy. Americans put Trump in office largely over his handling of the economy during his first term — job growth and wages that kept place with a low inflation rate.
Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Yellen gave the country just the opposite. Her boss paid the price politically as the American people paid the price economically.
And according to my sources, the American people aren’t done paying the price for Yellen’s mismanagement even if most of the financial media is overlooking the fiscal time bomb she devised — one that could blow up once Trump takes office.
Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt.
(Excerpt) Read more at nypost.com ...
Between her time as Fed Chairman and Treasury Secretary, rarely has one person done so much damage to so many people, the vast majority of which are the working middle class.
She’s personally destroyed the financial security of millions of Americans.
Janet Yellen should have retired years ago, bought herself a big floppy sunhat, and puttered away retirement in a garden. Her failure to retire in a timely manner has cost us a great deal of money.
FTA-——Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Biden paid the price politically as the American people paid the price economically for her bungling.
Americans aren’t done paying the price for Yellen’s mismanagement as most of the financial media overlooks the fiscal time bomb she devised — one that could blow up once Trump takes office.
Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt.
What else floats?
When you pick someone from academia with no significant private sector experience, this is what happens. It was predictable.
One thing we can probably all agree on though... what a hair-doo!
I expect to see Kimmie K. sporting it soon.
“ She’s personally destroyed the financial security of millions of Americans.”
As planned.
She started as Treasury secretary under Biden in January 2021 and as the article states began a practice of short term financing of what traditionally was long term debt all for political purposes, now Trump and Bessent have manage the short term refinancing properly to avoid a run up on long term interest rates and crashing the housing market, in other words she left a financial crisis for the next president to clean up
Yellen an idiot...all in on global warming and dumb/malignant on nation’s Treasury matters.
Almost as if it has been planned from the start.
In Russia, a screw up of this magnitude would result in execution.
I understand when she was at both places, it’s a double shot of mismanagement, first at the Fed and later at the Treasury Department, she was terrible at both places, she got rewarded for her loyalty to the Democrats and the establishment for political decisions which caused untold millions of Americans to suffer.
Her testimony in congressional hearings was always a babble of what to do wrong.
It brought inflation down but collapsed the economy in the process. Construction and manufacturing were the first to go and those are always two Prime Forces in our economy.
She’s a hag.
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