{"id":18696,"date":"2016-03-10T12:03:33","date_gmt":"2016-03-10T17:03:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18696"},"modified":"2016-03-10T12:03:33","modified_gmt":"2016-03-10T17:03:33","slug":"mr-more","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18696","title":{"rendered":"Mr. MORE!"},"content":{"rendered":"
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Mr. MORE!\u00a0<\/a><\/h3>\n<\/div>\n
<\/div>\n
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The Man with the Inflation Plan<\/strong><\/p>\n

Proving beyond a shadow of doubt that Keynesian absurdity knows no bounds, Larry Summers has graced the FT \u2013 one of the West\u2019s premier establishment propaganda mouthpieces advocating central economic planning as practiced by modern-day regulatory democracies \u2013 with yet another cringe-worthy editorial.<\/p>\n

\"aLarry Summers \u2013 it is probably no exaggeration to call the man a danger to civilization \u00a0\u00a0Photo credit: Hyungwon Kang \/ Reuters \/ Corbis<\/p>\n

The editorial is entitled \u201cA world stumped by stubbornly low inflation<\/a>\u201d\u00a0<\/em>with a subheader reading \u201cThere is no evidence that policymakers are acting strongly to restore their credibility<\/em>\u201d.<\/p>\n

The title and subheader alone deserve comment. First of all, absolutely\u00a0no-one<\/em>\u00a0outside the inhabitants of the incestuous ivory tower of Keynesian and monetarist mainstream economists and the central planning bureaucrats infesting central banks is in any way \u201cstumped\u201d by \u201clow inflation\u201d.<\/p>\n

We suspect that there are billions of consumers in the world who would prefer\u00a0 prices to stop rising altogether. In fact, we believe they not only want them to stop rising, they actually want them to\u00a0decline<\/em>. But what do they know? Mr. Summers and his central planning comrades have decreed that it is \u201cbad\u201d for them if they are able to buy more rather than less with their income!<\/p>\n

As to the perceived lack of policymaker \u201ccredibility\u201d:\u00a0They don\u2019t deserve any<\/em>. The world\u2019s economic malaise is to 100% their fault. If only it were true that they are \u201cnot acting\u201d! The truth is unfortunately that they continue to heap folly upon folly.<\/p>\n

Need we remind Mr. Summers of the Bank of Japan\u2019s decision to implement the perversion of negative deposit rates, or the decision of the Riksbank to lower its negative rates to\u00a0minus 50 basis points<\/em>\u00a0in the middle of a raging housing and consumer credit bubble, even though Sweden\u2019s GDP is forecast to grow by 3%?<\/p>\n

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

Mr. MORE!\u00a0 The Man with the Inflation Plan Proving beyond a shadow of doubt that Keynesian absurdity knows no bounds, Larry Summers has graced the FT \u2013 one of the West\u2019s premier establishment propaganda mouthpieces advocating central economic planning as practiced by modern-day regulatory democracies \u2013 with yet another cringe-worthy editorial. Larry Summers \u2013 it […]<\/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":[5728,57,240,8262,426,3284,6170,771],"class_list":["post-18696","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-bank-of-japan","tag-economic-growth","tag-financial-times","tag-inflation","tag-larry-summers","tag-pater-tenebrarum","tag-sweden"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18696","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=18696"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18696\/revisions"}],"predecessor-version":[{"id":18697,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18696\/revisions\/18697"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}