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Billionaire hedge fund manager Stanley Druckenmiller pulled no punches during a fireside chat with legendary trader Paul Tudor Jones at a recent Robin Hood Foundation event, slamming Treasury Secretary Janet Yellen.

In his view, Yellen made the worst mistake in the history of the Treasury, by not issuing more long-dated government bonds before the Fed began hiking rates early last year. And that, Druck believes has helped pave the way for a debt disaster.

"Janet Yellen — I guess because political myopia, whatever — was issuing two years at 15 basis points when she could have issued 10 years at 70 basis points or 30 years at 180 basis points," Druckenmiller continued.

But he wasn't done, making it clear the scale of the problem she has created:

Who could have seen that coming?

One look at the market's perception of USA's sovereign credit risk tells you all you need to know about Yellen and her inane sponsorship of Bidenomics… wrecking America's financial situation – evidenced by UST yields are rising along with USA sovereign risk's sudden surge…

And it's not going to get any better…

Watch the full discussion here:

Worse still for the softly-spoken Ivory-Tower dweller, her own husband – Nobel Prize winning economist George Akerlof – pointed out in June 2020 how the economic profession's descent into irrelevance is highlighted by its failure to predict the Great Financial Crisis…

Interestingly, the Economics profession also shunned individuals who did put the key pieces together and predicted the crisis in papers published by the BIS.

The lack of a mathematical model made it easy to dismiss these papers too.

Professor Akerlof goes on to explain how the preoccupation with math effectively blocks the Economics profession from understanding financial crises.

Shorter, if you cannot express it with a mathematical equation, Economists aren’t interested…

(h/t: @MI_Investments)

Not exactly resounding support for his wife's profession… or ability to forecast anything at all.

Remember this beauty from 2017…

Damn it, Janet!

In light of Druckenmiller's (and PTJ's) views on Yellen's uselessness inability to do her job well, they both appear to think owning more gold and bitcoin makes sense…