"Moments ago Fed vice-chair Janet Yellen released a speech titled: "A
Painfully Slow Recovery for America's Workers: Causes, Implications, and the
Federal Reserve's Response." In it, Yellen finally revealed she is on the
path to realizing the it is none other than the Fed's own actions that
have broken the economic "virtuous cycle", and that Okun's Law - the bedrock
behind the Fed's flawed philosophy of assuming more debt -> more GDP ->
more jobs, is no longer relevant in the broken "New Normal." In other words,
Yellen finally starts to grasp what Zero Hedge readers knew a year ago, when
they read, "JP
Morgan Finds Obama, And US Central Planning, Has Broken The Economic "Virtuous
Cycle."..."
at http://www.zerohedge.com/news/2013-02-11/janet-yellen-discovers-okuns-law-broken-confused-record-russell-2000-doesnt-lead-plu
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