Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'
Fed Chair Janet Yellen said the banking system is "very much stronger" due to Fed supervision and higher capital levels.
Yellen also predicted that because of the measures the Fed has taken, another financial crisis is unlikely "in our lifetime."
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In This Episode:
Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'
Fed Chair Janet Yellen said the banking system is "very much stronger" due to Fed supervision and higher capital levels.
Yellen also predicted that because of the measures the Fed has taken, another financial crisis is unlikely "in our lifetime."
central bank finance financial economy economic IMF ECB fed BIS
Transcript:
Janet Yellen has made an absolutely ridiculous claim and she thinks you are so stupid and she can get away with this let's just cover this very quickly I'm going to do my normal videos that I do I just needed to get this quick little piece of information out there just stay with me I'm going to read this information to have it up on the screen here if you haven't seen this already Fed chair Janet Yellen said Tuesday that banks are quote very much stronger which is a lie and another financial crisis is unlikely to occur anytime soon are you kidding me this is the type of information that they were talking about in 1929 just prior to the Great Depression these are the exact same type of terms that they were using in fact I will show you some examples let's talk about it in just very quickly okay so we know that in October of 1929 we had a major drops 11 percent 13 and 12 percent all basically in a very short time period just prior to that stock price this is a Yale economist okay Irving Fisher stock prices have reached what looks like a permanently high plateau then just as this crash is coming in we have some other high level individuals saying this crash is not going to have much effect on business I have no fear of another comparable decline and all of these sort of things they just there's a whole list of them I'll show you in the video I'll do basically they're suggesting that everything is gonna be fine don't worry about it everything just just keep pumping your money and just keep pumping it in you may be scared at this time you may see that there are a lot of individuals and investment companies taking the opposite bet don't worry don't worry just pour your money in it's good well that's unfortunately what happened in 1929 whether this be the exact same situation I don't know that I'm just saying that it sounds a lot like what was happening back then I don't like it when any central banker is saying that we will have a never in our lifetime going to have a crash I mean that's absurd that is ludicrous and that to me sounds like an outright lie to protect something you know put your opinion down below this is totally opinionated here I just want to know what you think put it in the description and I'll see you in the next video
