In October 9th 2013, Janet Yellen was appointed president of the Federal Reserve of United States of America (Fed), by President Barak Obama. 

 

 

She replaced former Fed president Ben Bernanke, and become first woman in charge of the more important, powerful, and determinant position in the world capitalist economy. “American workers and their families will have in Janet a leader”, said president Obama.

Yellen said: "Is necessary making more to consolidate the recovery, in particular, for who were more affected by the great recession”. Will be Yellen an ally to workers like Obama said? JP Morgan Chase Bank saw the things some different: "Markets will be comfortable with a familiar face" said Michael Feroli economist in Chef of JP Morgan Chase. Wall Street financial oligarchy had saluted the appointment.

 

And Wall Street exploded with happiness on stocks. Behind the appointment, S&P 500 grew up until 1.790,62 points, highest level in Wall Street history. International Monetary Fund (IMF) Managing Director Christine Lagarde, said about Yellen: "is very competent, is my friend, I´m glad by her position ...is super". Banking Affaires Committee President, democrat Tim Johnson, expressed your satisfaction by White House decision: "My Greetings to Obama decision for choose Yellen and become first woman serving like Federal Reserve President".

 

Bailouts for Ever

 

Janet Yellen was economic adviser in Clinton Administration. From 2010, in your position as Federal Reserve Vice-president, supported Ben Bernanke bailouts, that´s the reason why your appointment was a clear message to Wall Street. To world capitalist bosses is important to know if bailouts policy will continue in Federal Reserve, or is coming to the end. "Janet Yellen appointment (...) is welcome for markets. It´s suppose the continuation of Bernanke´s policy", said David Kotok, President of Cumberland Advisors Investments Committee.

 

Ben Bernanke policy was to send billion dollars to Multinational Corporations from the beginning of the crisis in 2007. Sometimes disguised like loans to states, or enterprises, in various formats, bailout has been a constant to the G7. In November 14 2013, Yellen submitted at US Senate your economic purposes, where traced a continuity of the Bernanke´s policy, the bailout policy in short and middle term, which loosed the Wall Street´s party, and the stocks record.

 

In Senate presentation, Yellen scared ghosts about the end of bailouts, announcements that means free money to Multinational Corporations. Thirty democrat senators and 240 economists, between them, Nobel Economy Prize Joseph Stiglitz, and former advisers of Clinton Administration like Alice Rivlin y Christina Romer, sign an open letter to support Yellen. All that Yellen´s claim, shows the extreme worry of US government, G7 governments and capitalist bosses, cling desperately for the continuity of bailouts to Corporations.

 

“Bubbles doesn’t exist”

 

Bailouts are extreme economic measures to extinguish the extended fire in capitalist system from the bubble sub- prime explosions in 2007- 2008 years. But, those extreme measures are now a permanent policy of central Banks, which acute and aggravate all capitalist system contradictions. From the beginning of the capitalist crisis, billion dollars are putting in Corporations pockets, in the same time had been expropriated of health, jobs, salaries, education, houses and pensions billion persons of the world population. Bailouts doesn´t solve any problem of capitalist system, conversely in years of crisis, billions jobs had been lost, economy branches, countries, and entire regions was devastated, while the growing of world economy show almost null index.

 

While world richest become obscenely richest, whose claim for Yellen appointment, Yellen herself, Obama, G7 bosses, and CEO´s of Corporations, try to hide this reality. All imbalances of world economy are aggravating. And facing the warnings of bubble´s development, over- accumulation of capital in some areas of world economy, the possibility of crack, or traumatic events with a higher destructive potential, those functionaries acting denying that’s possibilities.

 

Precisely, current crisis began with the sub- prime bubble explosion. And when some of those leaders receive the question about bubbles, they say: “No bubbles sight”. But many people reproach Yellen silence about the sub- prime bubble in California, Nevada and Arizona region, the states center of the disaster when the sub- prime bubble exploited. Obama, G7 bosses, G-20 presidents, Corporations CEO’s, Central Banks managers, Wall Street, and now Janet Yellen, they rule, and are in charge of world economy.

 

They are responsible for all what’s happening. And about will happen. Now, bailouts are not developing in USA, but Mario Draghi and BCE are developing the giant Central Bank bailout called QE1 in Europe, sending billion dollars to Corporations. Same stuff in Japan, where the bailout of Sinzo Abe Prime Minister called “Abenomics” implies billion dollars to Corporations. Run forward, leaving billion persons behind your adventure. Yellen appointment is one step forward toward disaster, and in time, toward the inescapable developments will shock world policy and world economy in the next years.