Business news without the bullshit

Yellen's speech yesterday!

What's going on here?

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Have not fear, the Fed sees all, knows all

The good news is the Fed controls nothing - except for dispersing handouts to member banks.

The bad news is...this is the head of the Fed.

What's going on here?

It looks pretty clear that she didn't write her talk and probably never saw it before it was handed to her.

She's also either sick or impaired on one or more substances.

The scary thing to me is the thunderous applause after her "talk."

The Soviet politburo couldn't have handled this Emperor's New Clothes scenario any better than this audience did.

Have no fear, the head of the Fed knows all and see all.

The planned economy is going to work out just fine.