Is Janet Yellen The Modern Day Oracle of Delphi?

Is Janet Yellen The Modern Day Oracle of Delphi? - oracle


Wall Street likens Fed head Janet Yellen to the all knowing Oracle of Delphi. So who exactly is the Oracle of Delphi? Via Wikipedia:


"The Pythia commonly known as the Oracle of Delphi, was the name given to the priestess of the Temple of Apollo at Delphi who served as the oracle.


The Pythia was established in the 8th century BC, and was widely credited for her prophecies inspired by being filled by the spirit of the god (or enthusiasmos), in this case Apollo. The Pythian priestess emerged pre-eminent by the end of 7th century BC and would continue to be consulted until the 4th century AD. During this period the Delphic Oracle was the most prestigious and authoritative oracle among the Greeks, and she was without doubt the most powerful woman of the classical world. The oracle is one of the best-documented religious institutions of the classical Greeks. 


The name "Pythia" is derived from Pytho, which in myth was the original name of Delphi. In etymology the Greeks derived this place name from the verb, pythein(πύθειν, "to rot"), which refers to the sickly sweet smell of the decomposition of the body of the monstrous Python after he was slain by Apollo. Pythia was the House of Snakes.


One of the main stories was that the Pythia delivered oracles in a frenzied state induced by vapours rising from a chasm in the rock, and that she spoke gibberish which priests interpreted as the enigmatic prophecies preserved in Greek literature."


Janet Yellen certainly spouts her fair share of economic gibberish. 


***The Fed's rosy economic outlook is undoubtedly pie in the sky. Here's what we think would happen if the Fed raises interest rates... It ain't good.


RTA Live | August 26, 2016

A Truly Sad Wall Street Narrative = "There Is No Alternative To Stocks"

Takeaway: Wall Street's "there is no alternative to stocks" narrative now completely ignores crashing markets in China, Europe, and Japan.

Unfortunately the “there’s no alternative to stocks” narrative hasn’t held this year in China, Europe, or Japan – Nikkei down another -1.2% overnight taking its crash from the 2015 high to -21.7% (Japanese Gov Pension fund just lost $52B being long stocks in Q2, with the BOJ buying them!)


Take a look at Italy...



Editor's Note: The snippet above is from a note written by Hedgeye CEO Keith McCullough and sent to subscribers this morning. Click here to learn more. 

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Daily Market Data Dump: Friday

Takeaway: A closer look at global macro market developments.

Editor's Note: Below are complimentary charts highlighting global equity market developments, S&P 500 sector performance, volume on U.S. stock exchanges, rates and bond spreads, key currency crosses, and commodities. It's on the house. For more information on how Hedgeye can help you better understand the markets and economy (and stay ahead of consensus) check out our array of investing products




Daily Market Data Dump: Friday - equity markets 8 26


Daily Market Data Dump: Friday - sector performance 8 26


Daily Market Data Dump: Friday - volume 8 26


Daily Market Data Dump: Friday - rates and spreads 8 26


Daily Market Data Dump: Friday - currencies 8 26


Daily Market Data Dump: Friday - commodities 8 26

Poll of the Day: Which Movie Below Best Captures Janet Yellen's Fed Tenure?

Takeaway: What do you think? Cast your vote. Let us know.



August 26, 2016

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10-Year U.S. Treasury Yield
1.62 1.49 1.58
S&P 500
2,168 2,193 2,172
Russell 2000
1,225 1,250 1,240
NASDAQ Composite
5,170 5,270 5,212
SPDR S&P Oil & Gas Explore
34.91 37.93 37.17
1,212 1,245 1,226
Nikkei 225 Index
16,290 16,843 16,555
German DAX Composite
10,436 10,730 10,529
Volatility Index
11.15 14.31 13.63
U.S. Dollar Index
93.90 95.90 94.74
1.10 1.13 1.12
Japanese Yen
99.31 102.40 100.59
Light Crude Oil Spot Price
43.95 49.51 47.33
Natural Gas Spot Price
2.51 2.92 2.88
Gold Spot Price
1,319 1,366 1,324
Copper Spot Price
2.07 2.17 2.08
Apple Inc.
107.27 110.29 107.57
749 770 759
J.P. Morgan Chase & Co.
63.26 66.21 66.07
Intel Corp.
34.12 35.67 35.09
Bank Of America
14.82 15.63 15.53
Expedia Inc.
110 117 112

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