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    « China: Is the Minsky Moment Upon Us? | Main | Dollars at a Discount »

    Janet Yellin: Betty Crocker Is My Hero



    You can only  have your cake and eat it too for so long but with Betty Crocker as her role model Janet Yellin has concluded that if you have to cook the books it is better to have them fully baked than half baked.  Are we in the midst of the Frankenbubble?  Hard to say but with cash vs GAAP  the boys and girls at GAO are popping kishkas. They reckon we're basically bankrupt and it's only a matter of time. No biggie.  The Mother of All Cramdowns awaits and the pitchforks will be pointing in all directions.

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