Thursday, June 9, 2011

Fed's Yellen sings media's refrain: No explanation, no solution, no hope

Federal Reserve Vice Chairman Janet Yellen said the housing market will undergo a “long, drawn-out recovery” and the Fed is working with other agencies to prevent foreclosures and clear the stock of vacant properties.

“Looking forward, I unfortunately can envision no quick or easy solutions for the problems still afflicting the housing market,” she said in a speech today in Cleveland. “Even once it begins to take hold, recovery in the housing market likely will be a long, drawn-out process.”

Yellen is just another liar. The media operates on the principle of repeating big lies often and through a wide variety of mouthpieces to hypnotize us into accepting it as the truth. They evidently realized that their other liars are losing credibility, so they trotted out one they haven't used, or at least used up. The fact is there is a solution, and LaRouche has it.