You might recall
You might recall a post in here I made about Janet Yellen quite a time ago - and about how it seemed self evident that she served capital and not the American people.
“Well, we don't have to get the prices down because wages, wages are going up.” Janet Yellen, 2024
It seems to me that attention should be drawn to individuals such as herself, who are not elected representatives of the people in this so-called Democracy, but rather, are appointed to the levers of power. Yes, she is appointed by an elected official but not all people who are appointed are appointed in that way. For example, our elected representatives do not appoint the other members of the Federal Reserve or the various local federal reserves throughout the US. They do not appoint anything other than director heads for the alphabet agencies. And so on.
Now, here's the post, from 2.5 years ago:
"Who Does Janet Yellen Work For?"
Lets take her recent TV appearance at face value.
She said, paraphrasing, that if republicans do not raise the debt ceiling permanently as they have in the past, the following will occur:
A major recession, unlike any before
Social security, social welfare payments not going out
Retirement savings for the average American entirely wiped out
Stock market crash
Now, what does the above imply? It implies that Janet Yellen works for the finance industry and the ultra wealthy (or, at least, the Federal Reserve works for them) not the average American. Why? Because 90-95% of all stock is owned by the finance industry and the ultra wealthy, which means 90-95% of its valuation is determined by their activities. Its valuation is not determined by the US debt ceiling, or whether or not it is increased. It is not determined by whether or not Biden and Democrats get their spending bill passed.
If her doomsaying prediction comes to pass, it will solely be because the finance industry and ultra wealthy lifted their middle fingers in unison towards this country. Which shouldn't come as a surprise to anyone, because they've been lobbying to keep taxes low, destroy public works, and privatize everything to maximize profit and minimize social utility for decades.
Now maybe we're just getting to a point where the Red Tribe decides to hammer the final nail in the coffin of public works and social utility, and Yellen and the Blue Tribe are gnashing their teeth because it means an end to the political theater of 'Blue Tribe Cares.'