{"id":15840,"date":"2015-12-30T19:30:57","date_gmt":"2015-12-31T00:30:57","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15840"},"modified":"2015-12-30T19:38:39","modified_gmt":"2015-12-31T00:38:39","slug":"time-for-torches-pitchforks-the-little-guy-is-about-to-get-monkey-hammered-again","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15840","title":{"rendered":"Time For Torches & Pitchforks\u2014\u2014-The Little Guy Is About To Get Monkey-Hammered Again"},"content":{"rendered":"
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Time For Torches & Pitchforks\u2014\u2014-The Little Guy Is About To Get Monkey-Hammered Again<\/a><\/h3>\n

The\u00a0reputations of\u00a0Ben and Janet are going to be eviscerated in 2016. That\u2019s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies.\u00a0The plain fact is,\u00a0massive falsification of financial markets via their \u201cwealth effects\u201d\u00a0doctrine did not levitate\u00a0main street prosperity at all; it just fueled\u00a0another giant speculative mania in the Wall Street casino.<\/p>\n<\/header>\n

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The\u00a0prospect that the leaders of our monetary politburo are about to be tarred and feathered by economic reality\u00a0might be satisfying enough if it led to the repudiation of Keynesian central planning and a thorough housecleaning at the Fed. Unfortunately, it will also mean that tens\u00a0of millions of retail investors and 401k holders will be taken to the slaughterhouse for the third time this century.<\/p>\n

And this time the Fed is out of dry powder, meaning\u00a0retail investors\u00a0will never recover as they did\u00a0after 2002 and 2009. Moreover, the overwhelming share of main street losses will be the\u00a0among baby-boom demographic\u2014\u2014sixty and seventy something\u2019s who will be down for the count.<\/p>\n

As Jim Quinn so graphically put it an the adjacent piece,<\/p>\n

Investors are lazing around the waterhole like unsuspecting gazelles. This herd will be running for their lives in the near future, as danger is lurking.<\/p>\n

\"\"<\/p><\/blockquote>\n

With each passing day the evidence mounts, and this morning\u2019s trade data was a doozy. During November exports shrank by 2% and are now down 12% from the peak, and at the lowest level since March 2010.<\/p>\n

\"\"<\/p>\n

Yes, you can count on the Keynesian paint-by-the-numbers\u00a0crowd to insist that exports don\u2019t matter that much. Goods exports are just 8% of GDP and total exports including services are 12%.<\/p>\n

So what is 12% when\u00a0Janet is busy\u00a0at the Fed\u2019s dashboard,\u00a0tweaking the\u00a0dials and thereby\u00a0goosing the labor market back to the pink of full employment health?<\/p>\n

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

Time For Torches & Pitchforks\u2014\u2014-The Little Guy Is About To Get Monkey-Hammered Again The\u00a0reputations of\u00a0Ben and Janet are going to be eviscerated in 2016. That\u2019s because the US economy will slide into recession in defiance of every claim they have made for their snake oil monetary policies.\u00a0The plain fact is,\u00a0massive falsification of financial markets via […]<\/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":[68,125,5979,2120,303,305,353,451,467,860],"class_list":["post-15840","post","type-post","status-publish","format-standard","hentry","category-economics","tag-ben-bernanke","tag-central-planning","tag-contracorner","tag-david-stockman","tag-fed","tag-federal-reserve","tag-gdp","tag-janet-yellen","tag-keynesian-economics","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15840","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=15840"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15840\/revisions"}],"predecessor-version":[{"id":15843,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15840\/revisions\/15843"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}