{"id":14968,"date":"2015-12-02T06:59:47","date_gmt":"2015-12-02T11:59:47","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14968"},"modified":"2015-12-02T06:59:47","modified_gmt":"2015-12-02T11:59:47","slug":"the-fed-v-bias-prejudice","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14968","title":{"rendered":"The FED v Bias &#038; Prejudice"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"http:\/\/www.armstrongeconomics.com\/archives\/39941\" target=\"_blank\">The FED v Bias &amp; Prejudice<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><a href=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/12\/Bias-Prejudice.png\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-39943 aligncenter\" src=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/12\/Bias-Prejudice.png\" alt=\"Bias-Prejudice\" width=\"205\" height=\"502\" \/><\/a><\/p>\n<p><strong>COMMENT<\/strong>:\u00a0If the Fed is so smart and understands the problem with low\/negative interest rates, then why didn\u2019t it hike rates in September?\u00a0 Better yet, why didn\u2019t they raise rates YEARS ago?\u00a0 The Fed has kept rates near zero for seven years but now suddenly realizes that this is a problem?<\/p>\n<div class=\"moz-text-html\" lang=\"x-unicode\">\n<p dir=\"ltr\">I am surprised that you think so highly of them.\u00a0 The Fed consists of a bunch of academics with no real-world experience, no different than the ECB.<\/p>\n<p dir=\"ltr\"><a href=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/11\/Fed-v-ECB.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-39194\" src=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/11\/Fed-v-ECB.jpg\" alt=\"Fed v ECB\" width=\"729\" height=\"456\" \/><\/a><\/p>\n<p dir=\"ltr\"><strong><a href=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2015\/06\/Draghi-Euro.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-33748 alignleft\" src=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2015\/06\/Draghi-Euro.jpg.pagespeed.ce.ze0-E3GQXn.jpg\" alt=\"Draghi-Euro\" width=\"307\" height=\"210\" \/><\/a>REPLY:<\/strong>\u00a0Your bias and prejudice blind you. The ECB is run by\u00a0<em>Mario Draghi\u00a0<\/em>who is ex-Goldman Sachs.\u00a0<em>Mario Draghi\u00a0<\/em>faces a currency that is collapsing and a power structure that is fundamentally flawed. This is entirely different from the problems facing the Fed. Europe is in deep recession that is intensely deflationary. That is not the case yet in the USA.<\/p>\n<p dir=\"ltr\"><a href=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/12\/bernankeHopes.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-39942\" src=\"http:\/\/armstrongeconomics-wp.s3.amazonaws.com\/2015\/12\/bernankeHopes.jpg\" alt=\"bernankeHopes\" width=\"650\" height=\"433\" \/><\/a><\/p>\n<\/div>\n<p dir=\"ltr\"><a href=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/06\/yellen-Janet.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"  wp-image-32743 alignright\" src=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/06\/190x222xyellen-Janet.jpg.pagespeed.ic.JR7j46JF94.jpg\" alt=\"yellen-Janet\" width=\"190\" height=\"222\" \/><\/a>Yellen has inherited a nightmare. It was Ben\u00a0<em>Bernanke<\/em>who made the mess we are in today. He lowered rates, bought in long-term bonds the Fed cannot now sell and must wait for them to simply mature. Yellen is trapped for she cannot reverse QE and sell the bonds\u00a0<em>Bernanke\u00a0<\/em>bought and she is facing a meltdown in pension funds because rates are too low for too long. Yellen has no escape. You are also blind to how politics functions and all you are doing is listening to the bullshit that is spun by pretend analysts who know nothing about what really goes on behind the curtain.<\/p>\n<p dir=\"ltr\"><a href=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/12\/Lagarde-Christine-imf.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-31878 alignleft\" src=\"http:\/\/www.armstrongeconomics.com\/wp-content\/uploads\/2013\/12\/Lagarde-Christine-imf.jpg.pagespeed.ce.VKEJ9mbwFz.jpg\" alt=\"Lagarde-Christine-imf\" width=\"272\" height=\"185\" \/><\/a>The mere fact that the IMF came out publicly to ask the Fed\u00a0<strong>not<\/strong>\u00a0to raise rates in June was a political maneuver to counteract Yellen. Things of this nature are discussed behind the curtain \u2013 never in front. The IMF turned\u00a0<strong><a href=\"http:\/\/www.bbc.com\/news\/uk-33011262\">to the press<\/a><\/strong>\u00a0to\u00a0<strong>STOP<\/strong>\u00a0Yellen because she would have raised rates back in June. It was\u00a0 Ben\u00a0<em>Bernanke\u00a0<\/em>who listened to the bankers and created insanity.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The FED v Bias &amp; Prejudice COMMENT:\u00a0If the Fed is so smart and understands the problem with low\/negative interest rates, then why didn\u2019t it hike rates in September?\u00a0 Better yet, why didn\u2019t they raise rates YEARS ago?\u00a0 The Fed has kept rates near zero for seven years but now suddenly realizes that this is a [&hellip;]<\/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":[68,5243,233,282,303,305,418,431,434,451,5479,534,10411],"class_list":["post-14968","post","type-post","status-publish","format-standard","hentry","category-economics","tag-ben-bernanke","tag-bias","tag-ecb","tag-european-central-bank","tag-fed","tag-federal-reserve","tag-imf","tag-interest-rates","tag-international-monetary-fund","tag-janet-yellen","tag-martin-armstrong","tag-monetary-policy","tag-prejudice"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14968","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=14968"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14968\/revisions"}],"predecessor-version":[{"id":14969,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14968\/revisions\/14969"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}