Yellen Has No Clue How to Run Fed: Stockman

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Sept. 18 (Bloomberg) -- David Stockman, former director of the Office of Management and Budget under President Ronald Reagan, explains to Betty Liu why Janet Yellen is not a wise choice to succeed Ben Bernanke as Chairman of the Federal Reserve. He speaks on Bloomberg Television's "In The Loop."

I should clarify.

Do not think you are looking forward to janet yellin either.

Likes not really.

We are scrambling into this.

We are going to basically replace bubbles been with calamity janet.

She has no clue how to wean wall street from the pathetic addiction to the massive stimulus, easing money that has been going on for the entire century.

I backed that up because she has spent her whole life as a monetary bureaucrat.

And has no clue what's on is capitalism, genuine free markets are about.

Believes the entire system has to be run by a monetary policy, turning all the dials and short- term interest rates and yield curve and the entire financial curve.

She is part of the keynesian consensus that 12 people are running at $16 trillion economy.

They are delusional.

Yet the market is simply trading.

Daily projections that come from the out of control central bank.

This text has been automatically generated. It may not be 100% accurate.

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