{"id":26022,"date":"2017-09-23T07:06:41","date_gmt":"2017-09-23T12:06:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=26022"},"modified":"2017-09-23T07:06:41","modified_gmt":"2017-09-23T12:06:41","slug":"janet-yellens-78-month-plan-for-the-national-monetary-policy-of-the-united-states","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=26022","title":{"rendered":"Janet Yellen\u2019s 78-Month Plan for the National Monetary Policy of the United States"},"content":{"rendered":"
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Janet Yellen\u2019s 78-Month Plan for the National Monetary Policy of the United States<\/a><\/h3>\n

Past the Point of No Return<\/strong><\/p>\n<\/div>\n

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Adventures in depravity are nearly always confronted with the unpleasant reality that stopping the degeneracy is much more difficult than starting it.\u00a0 This realization, and the unsettling feeling that comes with it, usually surfaces just after passing the point of no return.\u00a0 That\u2019s when the cucumber has pickled over and the prospect of turning back is no longer an option.<\/p>\n

\"\"<\/a>Depravity and bedlam through the ages. The blue barge of perdition in the lower middle ferries the depraved and degenerate to their final destination, a small slice of which can be glimpsed above\u2026 [PT]<\/p>\n

In late November 2008, Federal Reserve Chairman Ben Bernanke put in place a fait accompli<\/em>.\u00a0 But he didn\u2019t recognize it at the time.\u00a0 For he was blinded by his myopic prejudices.<\/p>\n

Bernanke, a self-fancied Great Depression history buff with the highest academic credentials, gazed back 80 years, observed several credit market parallels, and then made a preconceived diagnosis.\u00a0 After that, he picked up his copy of A Monetary History of the United States<\/em> by Milton Friedman and Anna Schwartz, turned to the chapter on the Great Depression, and got to work expanding the Fed\u2019s balance sheet.<\/p>\n

\"\"Now here is something all those \u201cGreat Depression experts\u201d always<\/em> neglect to mention: the Fed\u2019s holdings of government securities expanded my more than 400% between late 1929 and early 1933. Friedman\u2019s often repeated assertion that the Fed \u201cdidn\u2019t pump enough\u201d in the early 1930s \u2013 which is held up as the gospel truth by nearly everyone \u2013 is simply untrue. It is true that the money supply collapsed anyway \u2013 but not because the Fed didn\u2019t try to pump it up.<\/p>\n

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

Janet Yellen\u2019s 78-Month Plan for the National Monetary Policy of the United States Past the Point of No Return Adventures in depravity are nearly always confronted with the unpleasant reality that stopping the degeneracy is much more difficult than starting it.\u00a0 This realization, and the unsettling feeling that comes with it, usually surfaces just after […]<\/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":[5728,122,303,451,11763,827,3650],"class_list":["post-26022","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-central-bank","tag-fed","tag-janet-yellen","tag-mn-gordon","tag-united-states","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26022","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=26022"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26022\/revisions"}],"predecessor-version":[{"id":26023,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/26022\/revisions\/26023"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}