{"id":17729,"date":"2016-02-13T11:25:43","date_gmt":"2016-02-13T16:25:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=17729"},"modified":"2016-02-13T11:26:11","modified_gmt":"2016-02-13T16:26:11","slug":"is-this-debts-last-rattle","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=17729","title":{"rendered":"Is This Debt\u2019s Last Rattle?"},"content":{"rendered":"<header class=\"post-header title-container fix\">\n<div class=\"title\">\n<h3 class=\"posttitle\"><a class=\"entry-title\" title=\"Is This Debt\u2019s Last Rattle?\" href=\"http:\/\/www.theautomaticearth.com\/2016\/02\/is-this-debts-last-rattle\/\" rel=\"bookmark\">Is This Debt\u2019s Last Rattle?<\/a><\/h3>\n<\/div>\n<\/header>\n<p><a href=\"http:\/\/www.theautomaticearth.com\/wp-content\/uploads\/2016\/01\/BlackThursdayOctober241929.jpg\" target=\"new\"><img decoding=\"async\" src=\"http:\/\/www.theautomaticearth.com\/wp-content\/uploads\/2016\/01\/BlackThursdayOctober241929.jpg\" alt=\"\" border=\"0\" \/><\/a><\/p>\n<div class=\"entry-container fix\">\n<div class=\"entry fix\">\n<div class=\"ssba ssba-wrap\"><b>Crowd outside Wall Street Stock Exchange on BlackThursday\u00a0<\/b>Oct 24 1929<\/div>\n<p>What we see happening today is why we called our news overview the \u201cDebt Rattle\u201d 8 years ago. The last gasps of a broken system ravished by the very much cancer-like progress of debt. Yes, it took longer than it should have, and than we thought. But that\u2019s pretty much irrelevant, unless you were trying to get rich off of the downfall of your own world. Always a noble goal.<\/p>\n<p>There\u2019s one reason for the delay only: central bank hubris. And now the entire shebang is falling to bits. That this would proceed in chaotic ways was always a given. People don\u2019t know where to look first or last, neither central bankers nor investors nor anyone else.<\/p>\n<p>It\u2019s starting to feel like we have functioning markets again. Starting. Central bankers still seek to meddle where and when they can, but their role is largely done. It\u2019s hard to pinpoint what exactly started it, but certainly after Kuroda\u2019s negative rate \u2018surprise\u2019 fell as flat on its face as it did, and then fell straight through the floor and subsequently shot up through the midnight skies, a whole lot more \u2018omnipotence credibility\u2019 has disappeared.<\/p>\n<p>Kuroda achieved the very opposite of what he wanted, the yen soared up instead of down -big!-, and that will reflect on Yellen, Draghi et al, because they all use the same playbook. And the latter so far still got a little bit of what they were shooting for, not the opposite. Still, one could also make a good case that it was Yellen\u2019s rate hike that was the culprit. Or even Draghi\u2019s \u2018whatever it takes\u2019. It doesn\u2019t matter much anymore.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Is This Debt\u2019s Last Rattle? Crowd outside Wall Street Stock Exchange on BlackThursday\u00a0Oct 24 1929 What we see happening today is why we called our news overview the \u201cDebt Rattle\u201d 8 years ago. The last gasps of a broken system ravished by the very much cancer-like progress of debt. Yes, it took longer than it [&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":[2674,1806,124,195,218,2427,8299,1225,661,7738,4069],"class_list":["post-17729","post","type-post","status-publish","format-standard","hentry","category-economics","tag-automatic-earth","tag-bubble","tag-central-banks","tag-debt","tag-draghi","tag-hubris","tag-incompetence","tag-kuroda","tag-qe","tag-raul-meijer","tag-yellen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17729","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=17729"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17729\/revisions"}],"predecessor-version":[{"id":17731,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/17729\/revisions\/17731"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}