I’m not sure which is more off the rails: the stock market bubble that is being inflated or the Chairman of the of the organization that is doing the inflating:
Hmmm…”Well, let me start — let me start with the question of the Fed’s credibility. And you used the word “promises” in connection with that. And as I tried to emphasize in my opening statement, the paths that the participants project for the federal funds rate and how it will evolve are not a pre-set plan or commitment or promise of the committee. Indeed, they are not even — the median should not be interpreted as a committee-endorsed forecast”
I think Fidelity wins….
Fidelity boosted estimated value of Snapchat by 62 percent in February
Fidelity Investments boosted its estimated value of free mobile messaging app Snapchat by 62 percent in February, despite recent concerns the company is struggling to gain traction with advertisers.
Fidelity mutual funds, which have become one of the largest investors in pre-IPO companies, reported the increased valuation for Snapchat in monthly holdings updates disclosed on Wednesday.
Snapchat is the maker of a free mobile app that lets users send videos and messages that disappear in seconds. There has been concern that Snapchat’s estimated valuation, which has topped $16 billion, is not justified because of its uneven revenue stream.
http://www.reuters.com/article/us-funds-fidelity-ipo-idUSKCN0WW1EO?
this is what you call MARK TO FANTASY.
LOL…and to think she’s the head puppet of the 4th branch of U.S. Gooferment. Amazing that so many listen to these puppets.
Here’s some reading for you Dave and your readers:
1. Secrets of the Federal Reserve by Eustace Mullins (free on the net).
2. The Creature from Jekyll Island by G. Edward Griffin.
3. The Prince by Nicolo Machiavelli (free on the net which was written around the year
1500)
4. The Pilgrims (it’s not what you think it is). See the following links…it’s a long read.
THE SILVER STEALERS
http://silverstealers.net/tss.html
Pilgrims Society
http://www.bibliotecapleyades.net/sociopolitica/sociopol_pilgrimsociety01.htm
5. This one is a PDF book. Just do a search on the net and you’ll see it.
Who Controls The Gold Stealing New York Fed Bank?
Thanks Dave for your insights on what is really going on.
Yellen reminds me more of the double-talking Professor from the ’70’s, Irwin Corey.
Janet Yellen is now head cheerleader for the stock market. The Fed is playing a double game – they “threaten” a rate increase to cool off the market, then they come out with dovish statements to jack it up even higher. It looks like everyone barring a small minority(which is us) has lost their mind and the market keeps going up and up with renewed buying from “break out” chasers. I anticipated the 2000 and 2007 busts a few months ahead of time, but with this current bubble, I feel clueless as to when this will even take a pause. Wall St bandits continue to line their pockets with their buddy Yellen serving as enabler. The brazen theft scheme called ZIRP will probably go on for eternity. At some point companies won’t be able to do any more buy backs because they would have bought back all their shares! Maybe then ZIRP will end.
Yellen gives Greenspan a run for him money in the BS department. On bloomberg radio today I heard one of their retarded hosts babble about yellen’s “brilliant” performance yesterday and he used all this pseudo scientific/math terms that were completely meaningless in describing what she said. Being a math guy, it really made me wonder if that’s the point – get peoples (including congress) eyes to glaze over when they talk so as to get them to focus on something else. They know most people either have an aversion to math or were taught to hate it and instead obsess over the kardassians. Hell, even in an earlier part of my career where I was semi regularly publishing papers for peer reviewed journals my boss shared with me his tactic of including a lot of math to intimidate the reviewers – this was in the area of climate research btw, where I figured out that global warming was a joke well before it became such a thing. Scientists backed it because selling crisis brings in the grant money.
At least the real Mr. Magoo (voiced by the late, great Jim Bachus) was a harmless old little man that made us laugh, unlike his real life imitators, Yellen and Greenspan, who cause/caused financial carnage.