{"id":13927,"date":"2015-10-29T06:48:36","date_gmt":"2015-10-29T11:48:36","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13927"},"modified":"2015-10-29T06:48:36","modified_gmt":"2015-10-29T11:48:36","slug":"all-hail-our-new-lord-and-master-the-stock-market","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13927","title":{"rendered":"All Hail Our New Lord and Master, the Stock Market"},"content":{"rendered":"

All Hail Our New Lord and Master, the Stock Market<\/a><\/h3>\n

We’re all minions now of the stock market.\u00a0<\/i><\/p>\n

\"\"<\/p>\n

The all-powerful Federal Reserve is mere minion of the stock market, a kitten absurdly claiming in public to be a tiger.<\/b>\u00a0If the market threatens to drop, the Fed quickly prostrates itself and does the bidding of its Lord and Master:\u00a0“No rate hikes, minons!”<\/i><\/p>\n

By cowering in terror of a stock market tantrum, the Fed has surrendered everything:<\/b>\u00a0its vaunted (and completely phony) independence; its duty (yes, go ahead and laugh) to the nation and the real economy–everything.<\/p>\n

The Fed is nothing but an abject slave of the market.<\/b>\u00a0It masks its servitude with Newspeak, but the reality it has only two choices: burn the market down with a series of rate hikes or surrender completely to the market, relinquishing any pretense of power or control.<\/p>\n

The Fed is not alone; the entire financial-political system is now beholden to the stock market.<\/b><\/p>\n

Want to impose real restrictions on the financial sector? Forget it, Congress–the market will rebel. And if the market sags–you’ll cave in like all the market’s servile minions because a significant chunk of your campaign contributions come from those profiteering off the market.<\/p>\n

Corporate America–don’t dare miss your quarterly earnings number or you will suffer the wrath of a market that destroys all who don’t obey its demands for short-term profits at the expense of long-term profitability.<\/b>\u00a0Were the management of a public company bold enough to sacrifice short-term profits for long-term growth, they wouldn’t survive the market’s destruction of their stock price.<\/p>\n

The stock market now dictates fiscal and monetary policy within the Empire because the American economy has been fully financialized.<\/b>\u00a0Profits flow not from innovation in products and services but from the financialization of every income stream.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

All Hail Our New Lord and Master, the Stock Market We’re all minions now of the stock market.\u00a0 The all-powerful Federal Reserve is mere minion of the stock market, a kitten absurdly claiming in public to be a tiger.\u00a0If the market threatens to drop, the Fed quickly prostrates itself and does the bidding of its […]<\/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":[127,305,317,5809,534,4924,4345,1138,1796],"class_list":["post-13927","post","type-post","status-publish","format-standard","hentry","category-economics","tag-charles-hugh-smith","tag-federal-reserve","tag-financial-system","tag-financialisation","tag-monetary-policy","tag-oftwominds","tag-political-system","tag-stock-market","tag-us-congress"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13927","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=13927"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13927\/revisions"}],"predecessor-version":[{"id":13928,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13927\/revisions\/13928"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}