{"id":13709,"date":"2015-10-22T19:04:03","date_gmt":"2015-10-23T00:04:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13709"},"modified":"2015-10-22T19:04:03","modified_gmt":"2015-10-23T00:04:03","slug":"neither-bull-nor-bear","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13709","title":{"rendered":"Neither Bull nor Bear"},"content":{"rendered":"

Neither Bull nor Bear<\/a><\/h3>\n

\u201cGood Economic Management\u201d vs. Larceny<\/strong><\/p>\n

\u201cWill you shut up?!\u201d<\/p>\n

That is what we wanted to say this morning, here in Zurich, Switzerland. At the table next to us, a hedge fund promoter is working hard\u2026<\/p>\n

\u201cThe value proposition\u2026 outside of the box\u2026 we\u2019re only talking two points\u2026 we can dialogue about it\u2026 Goldman\u2026 our business model\u2026 prioritize our priorities\u2026 get the balance right\u2026\u201d<\/p>\n

 <\/p>\n

\"hi-trudeau-04924780-8col\"New Canadian prime minister Justin Trudeau \u2013 who actually has more than just\u00a0one<\/em>\u00a0bad idea.
\nPhoto credit: Andrew Vaughan \/ Canadian Press<\/p>\n

Meanwhile, on the front page of the\u00a0Financial Times<\/em>\u00a0is a good-looking guy with a bad idea. Pierre Trudeau\u2019s son, Justin, is Canada\u2019s new prime minister. (Another political dynasty!) He will \u201ctake advantage of low interest rates\u201d to embark on a C$60 billion infrastructure program.<\/p>\n

Just for the record, the Canuck feds are not taking advantage of low interest rates. They\u2019re cheating savers\u2026 retirees\u2026 and responsible citizens whose expenses are lower than their incomes.<\/p>\n

In much of the developed world, central banks have pushed interest rates to their lowest level in 5,000 years. This is not \u201cgood economic management.\u201d It\u2019s larceny. They\u2019re taking money from savers and giving it to borrowers \u2013 especially in the financial sector and in government. But on to other things\u2026.<\/p>\n

\"Canada,<\/a>This is not just larceny, it is insanity (not unique to Canada to be sure, as it has gone global) \u2013 click to enlarge.<\/p>\n

12% a Year in Stocks<\/strong><\/h3>\n

\u201cWe don\u2019t pay any attention to the stock market. We buy good companies at good prices,\u201d an old friend explained about how his private fund operates. (In the interest of full disclosure, we are one of his investors.)<\/p>\n

\u201cWe aim for 12% a year,\u201d he continued. \u201cAnd that\u2019s what we get, more or less.\u201d<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Neither Bull nor Bear \u201cGood Economic Management\u201d vs. Larceny \u201cWill you shut up?!\u201d That is what we wanted to say this morning, here in Zurich, Switzerland. At the table next to us, a hedge fund promoter is working hard\u2026 \u201cThe value proposition\u2026 outside of the box\u2026 we\u2019re only talking two points\u2026 we can dialogue about […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,4794,4793,103,124,10128,10130,1154,4169,10129,7827,954],"class_list":["post-13709","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-bear","tag-bull","tag-canada","tag-central-banks","tag-economic-management","tag-infrastructure-program","tag-interest-rate-policy","tag-justin-trudeau","tag-larceny","tag-low-interest-rates","tag-money-supply"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13709"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13709\/revisions"}],"predecessor-version":[{"id":13710,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13709\/revisions\/13710"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}