{"id":23634,"date":"2017-04-17T18:38:59","date_gmt":"2017-04-17T23:38:59","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23634"},"modified":"2017-04-17T18:38:59","modified_gmt":"2017-04-17T23:38:59","slug":"hell-to-pay-2","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23634","title":{"rendered":"Hell To Pay"},"content":{"rendered":"
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Hell To Pay <\/a><\/h3>\n<\/div>\n
Behind the Curve<\/b><\/div>\n
\n

Economic nonsense comes a dime a dozen.\u00a0 For example, Federal Reserve Chair Janet Yellen \u201cthink(s) we have a healthy economy now.<\/i>\u201d\u00a0 She even\u00a0told<\/a><\/u><\/span>\u00a0the University of Michigan\u2019s Ford School of Public Policy so earlier this week.\u00a0 Does she know what she\u2019s talking about?<\/p>\n

\"\"Somehow, this cartoon never gets old\u2026<\/p>\n

If you go by a partial subset of the \u2018official\u2019 government statistics, perhaps, it appears she does.\u00a0 The unemployment rate is at 4.5 percent, which is considered full employment.\u00a0 What\u2019s more, inflation is \u2018reasonably close\u2019 to the Fed\u2019s 2-percent inflation target.\u00a0 But what does this mean, really?<\/p>\n

According to Fed Chair Yellen, it means that now\u2019s the time to tighten up the nation\u2019s monetary policy.<\/p>\n

\"\"<\/a>Behold this display of awesomeness, citizen. Doesn\u2019t it prove that central planning \u201cworks\u201d after all? Unfortunately the ointment is never entirely fly-free, especially when one is pondering statistical aggregates \u2013 click to enlarge.<\/p>\n

By now you\u2019ve likely seen this upcoming \u2013 choice \u2013 quote from Yellen.\u00a0 Nonetheless, we can\u2019t resist repeating its remarkable idiocy.\u00a0 For Yellen, who was in the greater Detroit metropolitan area, was kind enough to humor us all with a nifty automotive analogy to explain how to go about normalizing monetary policy.\u00a0 Here Yellen elaborates with a variety of technical terms:<\/p>\n

\u201cWhereas before we had our foot pressed down on the gas pedal trying to give the economy all the oomph we possibly could, now allowing the economy to kind of coast and remain on an even keel \u2013 to give it some gas but not so much that we are pressing down hard on the accelerator \u2013 that\u2019s a better stance of monetary policy. \u00a0We want to be ahead of the curve and not behind it.\u201d<\/i><\/p><\/blockquote>\n

 <\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Hell To Pay Behind the Curve Economic nonsense comes a dime a dozen.\u00a0 For example, Federal Reserve Chair Janet Yellen \u201cthink(s) we have a healthy economy now.\u201d\u00a0 She even\u00a0told\u00a0the University of Michigan\u2019s Ford School of Public Policy so earlier this week.\u00a0 Does she know what she\u2019s talking about? Somehow, this cartoon never gets old\u2026 If […]<\/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":[5728,303,451,11763,534,3650],"class_list":["post-23634","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-fed","tag-janet-yellen","tag-mn-gordon","tag-monetary-policy","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23634","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=23634"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23634\/revisions"}],"predecessor-version":[{"id":23635,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23634\/revisions\/23635"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}