{"id":21375,"date":"2016-07-05T18:48:11","date_gmt":"2016-07-05T23:48:11","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21375"},"modified":"2016-07-05T18:48:24","modified_gmt":"2016-07-05T23:48:24","slug":"planet-debt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21375","title":{"rendered":"Planet Debt"},"content":{"rendered":"
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Planet Debt\u00a0<\/a><\/h3>\n<\/div>\n
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Low Interest Rate Persons<\/strong><\/p>\n

She\u00a0is a low-interest-rate person. She has always been a\u00a0low-interest-rate\u00a0person. And I must be honest. I am a\u00a0low-interest-rate\u00a0person. If we raise interest rates, and if the dollar starts getting too strong, we\u2019re going to have some very major problems.<\/em><\/p>\n

\u2014 Donald Trump<\/p><\/blockquote>\n

\"TrumpoYell\"Two low interest rate persons! The Trumpsumptive president (Donald the Tremendous) can be seen here indicating the approximate size of the interest rate that will still keep us out of \u201cmajor problems\u201d.<\/p>\n

BALTIMORE \u2013 With startling clarity, the presumptive Republican presidential nominee described himself \u2013 and Fed chief Janet Yellen.\u00a0 But he could have just as easily been talking about his rival in this year\u2019s presidential elections, Hillary Clinton.<\/p>\n

Donald Trump had already gone broke \u2013 twice \u2013 by the time Bill Clinton took office. But then, the combination of lower interest rates and rising asset prices saved him.<\/p>\n

And extraordinary abundance and prosperity of the Clinton years owes little to Mr.\u00a0 and Mrs. Clinton and much to the fact that Alan Greenspan had inaugurated his famous \u201cGreenspan Put\u201d in 1987.<\/p>\n

\"DJIA,<\/a>1987 \u2013 the year of Greenspan\u2019s original sin \u2013 click to enlarge.<\/p>\n

Greenspan reassured investors that he had their backs with a rate cut whenever the stock market took a turn for the worse. This led to an \u201cillusion of prosperity,\u201d as stock prices rose, helping Bill get reelected\u2026 and gaining national prominence for Hillary as the aggrieved wife in the Monica Lewinsky affair.<\/p>\n

Stock prices filled with hot air, until the bubble in the Nasdaq blew up in Clinton\u2019s last year in office. Both of this year\u2019s presumptive candidates are \u201clow interest rate\u201d people, all right. Their adult lives were marked by the credit cycle and their careers shaped by ballooning debt. And now, almost the entire world economy depends on low rates.<\/p>\n

We live on Planet Debt.<\/p>\n

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

Planet Debt\u00a0 Low Interest Rate Persons She\u00a0is a low-interest-rate person. She has always been a\u00a0low-interest-rate\u00a0person. And I must be honest. I am a\u00a0low-interest-rate\u00a0person. If we raise interest rates, and if the dollar starts getting too strong, we\u2019re going to have some very major problems. \u2014 Donald Trump Two low interest rate persons! The Trumpsumptive president […]<\/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":[5728,952,6190,195,7844,303,1120,451,3650],"class_list":["post-21375","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-alan-greenspan","tag-bill-bonner","tag-debt","tag-donald-trump","tag-fed","tag-hillary-clinton","tag-janet-yellen","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21375","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=21375"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21375\/revisions"}],"predecessor-version":[{"id":21377,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21375\/revisions\/21377"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}