{"id":24889,"date":"2017-08-27T14:09:03","date_gmt":"2017-08-27T19:09:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24889"},"modified":"2017-08-27T14:09:03","modified_gmt":"2017-08-27T19:09:03","slug":"jackson-hole-and-the-appalachians","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24889","title":{"rendered":"Jackson Hole and the Appalachians"},"content":{"rendered":"
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Jackson Hole and the Appalachians<\/a><\/span><\/h3>\n<\/div>\n<\/header>\n
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\nHenri Cartier-Bresson Trafalgar Square on the Day of the Coronation of George VI <\/b>1937<\/center> <\/p>\n

The Jackson Hole gathering of central bankers and other economics big shots is on again. They all still like themselves very much. Apart from a pesky inflation problem that none of them can get a grip on, they publicly maintain that they\u2019re doing great, and they\u2019re saving the planet (doing God\u2019s work is already taken).<\/p>\n

But the inflation problem lies in the fact that they don\u2019t know what inflation is, and they\u2019re just as knowledgeable when it comes to all other issues. They get sent tons of numbers and stats, and then compare these to their economic models. They don\u2019t understand economics, and they\u2019re not interested in trying to understand it. All they want is for the numbers to fit the models, and if they don\u2019t, get different numbers.<\/p>\n

Meanwhile they continue to make the most outrageous claims. Bank of England Governor Mark Carney said in early July that \u201cWe have fixed the issues that caused the last crisis.\u201d<\/b><\/i> What do you say to that? Do you take him on a tour of Britain? Or do you just let him rot?<\/p>\n

Fed head Janet Yellen a few days earlier had proclaimed that \u201c[US] Banks are \u2018very much stronger\u2019, and another financial crisis is not likely \u2018in our lifetime\u2019. \u201c<\/b><\/i> While we wish her a long and healthy life for many years to come, we must realize that we have to pick one: it has to be either a long life, or no crisis in her lifetime.<\/p>\n

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

Jackson Hole and the Appalachians Henri Cartier-Bresson Trafalgar Square on the Day of the Coronation of George VI 1937  The Jackson Hole gathering of central bankers and other economics big shots is on again. They all still like themselves very much. Apart from a pesky inflation problem that none of them can get a grip […]<\/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":[2015,56,3756,15711,181,218,303,312,370,8471,451,995,10809,15712,661,13924,4069],"class_list":["post-24889","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bailout","tag-bank-of-england","tag-boe","tag-carney","tag-crisis","tag-draghi","tag-fed","tag-financial-crisis","tag-globalization","tag-jackson-hole","tag-janet-yellen","tag-mark-carney","tag-marriage","tag-model","tag-qe","tag-raul-ilargi-meijer","tag-yellen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24889","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=24889"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24889\/revisions"}],"predecessor-version":[{"id":24890,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24889\/revisions\/24890"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}