{"id":2044,"date":"2014-11-25T14:50:24","date_gmt":"2014-11-25T19:50:24","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2044"},"modified":"2014-11-25T14:50:24","modified_gmt":"2014-11-25T19:50:24","slug":"another-keynesian-debt-boondoggle-how-brussels-plans-to-turn-zero-new-cash-into-a-400b-stimulus-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2044","title":{"rendered":"Another Keynesian Debt Boondoggle: How Brussels Plans To Turn Zero New Cash Into A $400B Stimulus | David Stockman&#8217;s Contra Corner"},"content":{"rendered":"<p><a href=\"http:\/\/davidstockmanscontracorner.com\/another-keynesian-debt-boondoggle-how-brussels-plans-to-turn-26-billion-into-390-billion\/\">Another Keynesian Debt Boondoggle: How Brussels Plans To Turn Zero New Cash Into A $400B Stimulus | David Stockman&#8217;s Contra Corner<\/a>.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">The desperation and fraud of the\u00a0Keynesian policy apparatus gets more stunning by the day. Apparently, the pettifoggers in Brussels will soon\u00a0be announcing a new $400 billion bazooka to blast the euro-economy out of its lethargy. This massive new \u201cstimulus\u201d is\u00a0supposed to spur all manner of infrastructure and private investment that is purportedly\u00a0bottled-up for want of cheap capital in the private markets.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Are they kidding? Thanks to the Draghi Put (\u201cwhatever it takes\u201d)\u00a0and the hedge fund gamblers who have\u00a0gone all-in front running the promised ECB bond-buying campaign, this very morning\u00a0the corrupt and bankrupt government of Spain can borrow all the money it could possibly need for infrastructure at hardly 2.0% for ten years. And any healthy German exporter or machinery maker can borrow at a small spread off the German 10-year bond which is trading at\u00a073 basis points. For all intents and purposes, sovereigns of any stripe and reasonably healthy businesses in most parts of Europe can access capital at\u00a0central bank repressed rates which are tantamount to free money.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">And, yet,\u00a0these fools want to bring coals to Newcastle. Well, its actually worse than that because not only does Newcastle not need any coal, but the impending \u201cJuncker Plan\u201d doesn\u2019t include any new coal, anyway!<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another Keynesian Debt Boondoggle: How Brussels Plans To Turn Zero New Cash Into A $400B Stimulus | David Stockman&#8217;s Contra Corner. The desperation and fraud of the\u00a0Keynesian policy apparatus gets more stunning by the day. Apparently, the pettifoggers in Brussels will soon\u00a0be announcing a new $400 billion bazooka to blast the euro-economy out of its [&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":[95,218,233,282,467,1044],"class_list":["post-2044","post","type-post","status-publish","format-standard","hentry","category-economics","tag-brussels","tag-draghi","tag-ecb","tag-european-central-bank","tag-keynesian-economics","tag-mario-draghi"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2044","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=2044"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2044\/revisions"}],"predecessor-version":[{"id":2045,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2044\/revisions\/2045"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}