{"id":23541,"date":"2017-04-14T07:43:53","date_gmt":"2017-04-14T12:43:53","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23541"},"modified":"2017-04-14T07:43:53","modified_gmt":"2017-04-14T12:43:53","slug":"pulling-levers-to-steer-the-machine","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23541","title":{"rendered":"Pulling Levers to Steer the Machine"},"content":{"rendered":"
\n

Pulling Levers to Steer the Machine<\/a><\/h3>\n<\/div>\n
\n
Ticks on a Dog<\/strong><\/div>\n

A brief comment on Fed chief Janet Yellen\u2019s revealing speech at the University of Michigan. Bloomberg<\/em>:<\/p>\n

\u201cBefore, we had to press down on the gas pedal trying to give the economy all of the oomph that we possibly could,\u201d Yellen said Monday in Ann Arbor, Michigan. The Fed is now trying to \u201cgive it some gas, but not so much that we\u2019re pushing down hard on the accelerator.\u201d [\u2026]<\/em><\/p>\n

\u201cThe appropriate stance of policy now is closer to, let me call it neutral,\u201d Yellen said in response to questions during an event at the Gerald R. Ford School of Public Policy at the University of Michigan. Yellen said she expected the economy to continue to grow at a moderate pace and that gradual interest rate increases \u201ccan get us where we need to be.\u201d<\/em><\/p><\/blockquote>\n

\"\"Central planners groping in the dark\u2026<\/p>\n

Every society is ruled by an elite. They prey upon the common folks like ticks on a dog. They work their way into positions of power and influence, using a combination of brains, connections, and claptrap.<\/p>\n

The mob generally looks up to them, impressed by the hocus pocus. And then, eventually, the ticks grow too many and too fat. The poor dog weakens\u2026 and the magic fails.<\/p>\n

Where exactly we are in the process, we can\u2019t be sure. But surely, we took another step toward the eventual catastrophe when Ms. Yellen spoke.<\/p>\n

Everything she said was preposterous.<\/p>\n

No Oomph<\/strong><\/p>\n

The economy is not growing at a \u201cmoderate speed.\u201d If it is growing at all \u2013 it depends on how you calculate consumer price inflation \u2013 it is doing so only at stall speed.<\/p>\n

Officially, per capita growth is less than 1% a year. What kind of \u201coomph\u201d is that?<\/p>\n

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

Pulling Levers to Steer the Machine Ticks on a Dog A brief comment on Fed chief Janet Yellen\u2019s revealing speech at the University of Michigan. Bloomberg: \u201cBefore, we had to press down on the gas pedal trying to give the economy all of the oomph that we possibly could,\u201d Yellen said Monday in Ann Arbor, […]<\/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":[6275,6190,303,451,3650],"class_list":["post-23541","post","type-post","status-publish","format-standard","hentry","category-economics","tag-actingman","tag-bill-bonner","tag-fed","tag-janet-yellen","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23541","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=23541"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23541\/revisions"}],"predecessor-version":[{"id":23542,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23541\/revisions\/23542"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}