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rogerashton

(3,960 posts)

10. In defense of Yellen

Thu Sep 18, 2014, 02:33 PM

Sep 2014

(Fair disclosure: like Yellen, I am an economist.)

The AP headline is deceptive. Yellen is describing WHAT IS -- not saying what people ought to do. It is a fact that about half of American families just have nothing to fall back on, and are vulnerable to setbacks from unexpected expenses of almost any size. THAT IS A PROBLEM and we ought to give Janet Yellen props for focusing on the problem, since, frankly, too many of my colleagues in economics do not see it as a problem nor even as a reality. I want to say that Janet Yellen is one of the good guys, except -- well -- she isn't exactly a guy.

Put the blame where it belongs: on ABCNEWS.

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Yellen Says US Families Need to Boost Savings [View all] Newsjock Sep 2014 OP

ohhhh! and here i was, thinking i was doing the right thing by racking up debt and pissing it away. unblock Sep 2014 #1

"you riff raff need to spend less on food and housing so my wealthy friends can have more" nt msongs Sep 2014 #2

That's really the only song they sing in DC. FiveGoodMen Sep 2014 #5

Christ jamzrockz Sep 2014 #18

Yeah? Then increase wages and bump up the interest rate Warpy Sep 2014 #3

Uh..we DID boost savings.... dixiegrrrrl Sep 2014 #7

+100! Nt politicat Sep 2014 #31

Pardon me for a moment Sherman A1 Sep 2014 #4

Totally with you on this one. LoisB Sep 2014 #22

I'm so sick and tired of this shit IkeRepublican Sep 2014 #6

...^ that 840high Sep 2014 #42

Great advice Janet! ForgoTheConsequence Sep 2014 #8

She's not listening. christx30 Sep 2014 #24

This message was self-deleted by its author heaven05 Sep 2014 #9

In defense of Yellen rogerashton Sep 2014 #10

The problem is starvation wages and no respect for working people. Demeter Sep 2014 #32

Baloney rogerashton Sep 2014 #34

Listen buddy Demeter Sep 2014 #35

you know it, Demeter Skittles Sep 2014 #40

What power does Yellen have to help you? joshcryer Sep 2014 #47

Yellen was a transition pick, and she's right. joshcryer Sep 2014 #48

That's what she said! joshcryer Sep 2014 #46

She wants to focus on the problem? Good! dixiegrrrrl Sep 2014 #37

Stop Making Sense.. sendero Sep 2014 #41

How has it hurt employment, prices, and interest rates? joshcryer Sep 2014 #49

Her power is limited. rogerashton Sep 2014 #52

The plan is to not let the peons have any wealth thus upaloopa Sep 2014 #11

Those who have jobs or retired need to live beneath our incomes, as far as No Vested Interest Sep 2014 #12

All of my debt is from paying off medical bills from surgery last year. Boomerproud Sep 2014 #29

Medical bills have been the largest single cause of bankrupcies. No Vested Interest Sep 2014 #36

We gotta have something left to save first. Brigid Sep 2014 #13

Thank you. Delphinus Sep 2014 #50

This would be informative Doc Holliday Sep 2014 #14

We couldn't even get a Sears CC mimi85 Sep 2014 #17

Cheapskate? I prefer to say frugal. nt No Vested Interest Sep 2014 #19

So true. mimi85 Sep 2014 #45

Dah! ebbie15644 Sep 2014 #15

Yellen needs to cut her pay to $9/hr and let us know how much she's able to save. hobbit709 Sep 2014 #16

Oh, let me get right on that... cactusfractal Sep 2014 #20

WTF??!! How can you "save" when all of your money is spent on essentials... rury Sep 2014 #21

I read it: LoisB Sep 2014 #23

These people that we put into such power are soooooo out of touch with the reality of the middle. YOHABLO Sep 2014 #25

Whoever appointed her should have done a better job. FiveGoodMen Sep 2014 #26

Declining income=declining savings? Boomerproud Sep 2014 #27

Except that she did not say that. Read the transcript before expressing outrage (nt) Nye Bevan Sep 2014 #28

Look dude, this is what was quoted by ABC news .. I see no transcripts .. so WTF? YOHABLO Sep 2014 #30

I read the ABC article and I saw no such quote. It appears that ABC made up the headline. spooky3 Sep 2014 #44

Not a problem! We can just click the heels of our Ruby Slippers together three times, Zorra Sep 2014 #33

US rich need to stop hoarding. GeorgeGist Sep 2014 #38

Let them eat cake! Marthe48 Sep 2014 #39

What's the Point of Saving? november3rd Sep 2014 #43

The little money I get goes to support my addictions and those of my masters. Half-Century Man Sep 2014 #51