the best charcoal grill to buy Stop Congratulating Janet Yellen, She Doesn't Deserve It

Parke will join Thom LachenmannStop in congratulating Janet Yellen and starting to reflect on the task at hand by Jerome Powell.Especially people like Evan Kraft.With Yellen's term ending, the political and financial media have ended her term as chairman of the Federal Reserve, announcing that she has entered an era of prosperity and success, pulling the strings of economic policy in a way that few others can do.In our view, however, this is inseparable from the facts.Really?What is Yellen's real need for skill, skill or "stable hand" to do this?With the help of politicians and governments, she has increased the supply of money, further reduced the purchasing power of the dollar, and supervised the best part of the unprecedented low interest rates in the past decade --The ensuing interest rate environment left a huge economic bubble and record levels of household debt that must be handled under the supervision of others.On top of that, she also announced that the Fed plans to scale down its balance sheet, although she proposes to scale down, and that during her tenure, little effective action has been taken to actually narrow the Fed's balance sheet.The above is the current balance sheet of the Fed.But a publication like Hill, in a tribute to Yellen article published in the past week, has several articles that want her to be proud of all of our "prosperity" over the past 10 years.Of course, the so-called prosperity does not mean the interest paid by our savings or the purchasing power of the US dollar. of course, we mean that the stock market has abandoned all the price discoveries, except to go higher, do nothing.The balance sheet over $4 t and waiting for a rate hike is "cautious leadership", Hill wrote, let's take a break.One of the questions is here.Our financial media and articles like this from the mountains don't seem to reveal any understanding of how economic stimulus really works and is being measured, let alone, they may have an understanding of different genres of macroeconomic theory.Technically, economic stimulus should only be considered a successful stimulus if the Fed can undo all the stimulus measures it once threw out and keep the country in a better position than before.This is the second part of the equation, tightening, we just started simply.In fact, since we started implementing quantitative easing, we have done almost nothing to tighten it.Interest rates are at historic lows and there is no indication that they will go higher in any meaningful way, with the Fed's balance sheet being the biggest ever.It's like you take out your credit card, use it to buy a new car, drive your credit card to the limit, then get someone else involved, raise the limit, and then use the card to buy a house with a driveway, let you park your car inside.Are you more likely to congratulate the person on the "boom" of owning cars and houses now, or you are more likely to wonder how that person will pay interest and what is the plan to deal with the debt burden, the debt burden is five times the credit card explosion for the first time?This is all Ye Lun has done.She stepped in as she continued her stimulus plan, watching the country's debt move to fullTime highs, devalued the purchasing power of bank currencies, did not take any meaningful risks as Fed chairman, although she admitted that she did not really understand one of the main keys to monetary policy --inflation -works.The people we want to congratulate are doing a good job?"Elaine, deserves praise at work...done." -J.The reality of the Petermann situation is that central banks may not know much about where to go from here.Yes, we have seen the value of ten years.Market volatility and continued spending.But where are we going from here?The zero-hedge article, which cites Citigroup (C)'s comments last week, paints a disturbing picture that central bankers may not know what to expect next, is comforting.So, if there's one thing we do want to congratulate Janet Yellen on getting out of her position before the bubble breaks, we have to pay the blower.Our central bank policy is unprecedented and will result in unprecedented consequences at some point.We have the vision not to swing for the next bubble to break, which is a big credit to Yellen.But, let's not crown her because she has guided the economy over the past decade and is somehow responsible for all the expenditures that have taken place after the interest rate reduction.You don't need a PhD in economics to be the Fed chairman, recite the same speech every six weeks, and don't take decisive action to make the consequences of low interest rates work on their own.First-year economics students at the community college could have been elected Fed chairman at a time when interest rates were at historic lows, and spending would still happen in exactly the same way as that.People behave like Yellen's door-to-door urging consumers to go to the local Wal-Mart around the United States --Buy the charcoal grill they have been craving for years.When you have companies like loan clubs (LC) handing over money, the car manufacturers issue sub-loan documents around, and the government will support trillions of dollars in student loans, these loans will increase in spending outside education.This is a simple principle.This has nothing to do with Janet Yellen, except for the fact that she makes all these bad investments happen on her watch.We believe that during Yellen's tenure as chairman of the Federal Reserve, all these congrats and attacks are wrong.Investors should be concerned about the consequences of her actions as Fed chairman in the coming years.In addition, the focus should be on Jerome Powell and how he plans to deal with the situation in the future.We wrote a full article on the issue, questioning whether Yellen's bubble will burst in the hands of the incoming Fed chairman.Consumer credit, secondary car, student loans;One or all of these bubbles will burst soon.This is part of a broader story, where the market runs with unprecedented pleasure.We believe that at this time investors should continue to recognize the greater macroeconomic risks posed by deficit spending that we have been doing for the past 10 years, and should pay attention to this warning, and keep this in mind when rebalancing your portfolio.Disclosure: I/we have no positions in any of the stocks mentioned and no plans to start any positions in the next 72 hours.This article was written by myself and expressed my views.I have not received compensation (except for Seeking Alpha ).I have no business relationship with any stock company mentioned in this article.