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A remarkable statement by current Fed Chair Janet Yellen: she publicly stated, and without blinking an eye, that no new financial crisis will erupt in our lifetimes. With special emphasis on our lifetimes; if Yellen would have said my lifetime, things would be different (although even then she would be utterly wrong; a crisis is approaching and approaching fast). With 70 years of experience Yellen can be called a Fed veteran, and rightly so. But a veteran with “only” 16 years ahead of herself, if we rely on a mortality table of any randomly picked life insurer. “Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will,” responded Yellen, when she was asked about the potential of a new crisis.

No Crisis in the Next 16 Years? Or in the Next 78 Years? Nonsense

Janet Yellen’s Four-Year Term Is Expiring

Outcome of US Banking Stress Test Positive: Banks Pay Out Massive Amounts to Shareholders

Source: Bloomberg

The Fed as Creator of Crises

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