Shorter Yellen

Janet Yellen is speaking to the National Association of Business Economists. I will summarize her remarks thus sparing you an onset of ennui. In short:

People who own capital will have to seek out riskier investments in order to see higher returns. If you own no substantial capital, you need not worry about the economy. It was not designed for you anyway.

Unemployment is such that if you don’t have a job, it is because you don’t want one or don’t have the high tech skill levels of foreign workers Silicon Valley desperately wants to import.

If you are simply a wage-slave consumer, expect modest increases in consumer prices. Also, your productivity is sub-par, so get ready to see capital abandon you by changing business models, replacing you with wage-slaves located in Asia, or replacing you with robots.

About Alton Drew

Alton Drew brings a straight forward and insightful brand of political market intelligence. Alton Drew graduated from the Florida State University with a Bachelor of Science in economics and political science (1984); a Master of Public Administration (1993); and a Juris Doctor (1999). You can also follow Alton Drew on Twitter @altondrew.
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