{"id":19531,"date":"2016-04-04T19:39:53","date_gmt":"2016-04-05T00:39:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19531"},"modified":"2016-04-04T19:40:09","modified_gmt":"2016-04-05T00:40:09","slug":"a-quarter-century-of-monetary-voodoo","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19531","title":{"rendered":"A Quarter Century Of Monetary Voodoo"},"content":{"rendered":"<h3 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2016-04-04\/quarter-century-monetary-voodoo\" target=\"_blank\">A Quarter Century Of Monetary Voodoo<\/a><\/h3>\n<div class=\"node\" data-mediaconductor-processed=\"true\">\n<div class=\"content\">\n<p><u><strong>A Witless Tool of the Deep State?<\/strong><\/u><\/p>\n<p><strong>Finance or politics? We don\u2019t know which is jollier.\u00a0<\/strong>The Republican presidential primary and Fed monetary policies seem to compete for headlines. Which can be most absurd? Which can be most outrageous? Which can get more page views?<\/p>\n<p>Politics, led by Donald J. Trump, was clearly in the lead\u2026 until Wednesday. Then, the money world, with Janet L. Yellen wearing the yellow jersey, spurted ahead in the Hilarity Run.<\/p>\n<p><a href=\"http:\/\/www.acting-man.com\/blog\/media\/2016\/04\/Yellen_cartoon_08.18.2014.png\" target=\"_blank\"><img decoding=\"async\" class=\"aligncenter wp-image-44166\" src=\"http:\/\/www.acting-man.com\/blog\/media\/2016\/04\/Yellen_cartoon_08.18.2014-1024x749.png\" alt=\"Yellen_cartoon_08.18.2014\" \/><\/a><\/p>\n<p>\u201cCautious Yellen drives global stocks near 2016 peak,\u201d reported a Reuters headline.\u00a0<u><strong>The story itself was a remarkable tribute to the whole jackass money system.<\/strong><\/u><\/p>\n<p>At first glance, \u201ccautious Yellen\u201d would seem incongruous with stocks rising to \u201cnear 2016 peak.\u201d Caution normally means playing it cool, not encouraging speculation.<\/p>\n<p>But it wasn\u2019t so much what Ms. Yellen said that sent stocks racing ahead. It was what she hasn\u2019t done. And she hasn\u2019t done exactly what we thought she wouldn\u2019t do. That is, so far this year, she has not taken a single step in the direction of a \u201cnormal\u201d monetary policy; our guess is that she never will.<\/p>\n<p><u><em><strong>Why not? Is it because she is a witless tool of Deep State cronies? Is it because her economic theory is silly, superficial, and simpleminded? Or is it because she and her predecessor, Ben Bernanke, have done so much damage to the normal world that there is nothing to go back to?<\/strong><\/em><\/u><\/p>\n<p>A coo-coo for the stock market\u2026<\/p>\n<\/div>\n<div class=\"content\">\n<p>\u201cCautious Yellen drives global stocks near 2016 peak,\u201d reported a Reuters headline.\u00a0<u><strong>The story itself was a remarkable tribute to the whole jackass money system.<\/strong><\/u><\/p>\n<p>At first glance, \u201ccautious Yellen\u201d would seem incongruous with stocks rising to \u201cnear 2016 peak.\u201d Caution normally means playing it cool, not encouraging speculation.<\/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>A Quarter Century Of Monetary Voodoo A Witless Tool of the Deep State? Finance or politics? We don\u2019t know which is jollier.\u00a0The Republican presidential primary and Fed monetary policies seem to compete for headlines. Which can be most absurd? Which can be most outrageous? Which can get more page views? Politics, led by Donald J. [&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":[68,13290,7076,452,460,472,8697,534,6465,5687,572,614,1264,683,4431,4318],"class_list":["post-19531","post","type-post","status-publish","format-standard","hentry","category-economics","tag-ben-bernanke","tag-charlie-munger","tag-headlines","tag-japan","tag-joseph-stiglitz","tag-krugman","tag-monetary-base","tag-monetary-policy","tag-new-normal","tag-new-orleans","tag-nikkei","tag-paul-krugman","tag-recession","tag-reuters","tag-warren-buffett","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19531","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=19531"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19531\/revisions"}],"predecessor-version":[{"id":19533,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19531\/revisions\/19533"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}