{"id":2739,"date":"2014-12-10T12:15:19","date_gmt":"2014-12-10T17:15:19","guid":{"rendered":"http:\/\/olduvai.ca\/?p=2739"},"modified":"2014-12-10T12:15:19","modified_gmt":"2014-12-10T17:15:19","slug":"oftwominds-charles-hugh-smith-central-banks-have-failed-because-they-cant-push-wages-higher","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=2739","title":{"rendered":"oftwominds-Charles Hugh Smith: Central Banks Have Failed Because They Can’t Push Wages Higher"},"content":{"rendered":"

oftwominds-Charles Hugh Smith: Central Banks Have Failed Because They Can’t Push Wages Higher<\/a>.<\/p>\n

You can print all the money you want, but it will never boost wages to keep up with prices.<\/i><\/span><\/p>\n

\u00a0<\/span><\/b><\/div>\n
Central banks have been pursuing two goals for the past six years: ignite inflation and an expansion of debt that will supposedly generate “growth.”<\/b>\u00a0Despite squandering trillions of dollars, yen, yuan and euros, central banks have failed to ignite sustainable inflation or growth.<\/span>

<\/span><\/div>\n
There’s nothing mysterious about their failure: you can’t get “good” inflation or growth if wages are stagnant or declining.<\/span><\/b><\/div>\n
<\/div>\n
The central banks don’t bother to distinguish between “good” and “bad” inflation: any and all inflation is considered not only wonderful but essential to propping up the Ponzi scheme of debt-dependent consumption, a dynamic I described in\u00a0Central Banks Create Deflation, Not Inflation.<\/a><\/span><\/div>\n
\u00a0<\/span><\/div>\n
“Good” inflation is wages rising faster than prices.<\/b>\u00a0When wages rise faster than consumer prices, households have more money to spend on consumption, and it’s progressively easier for them to pay down debt and support additional borrowing.<\/span><\/div>\n
<\/p>\n

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

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

oftwominds-Charles Hugh Smith: Central Banks Have Failed Because They Can’t Push Wages Higher. You can print all the money you want, but it will never boost wages to keep up with prices. \u00a0 Central banks have been pursuing two goals for the past six years: ignite inflation and an expansion of debt that will supposedly […]<\/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":[124,1807,391,426,1809,1808],"class_list":["post-2739","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-debt-expansion","tag-growth","tag-inflation","tag-wage-growth","tag-wages"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2739","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=2739"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2739\/revisions"}],"predecessor-version":[{"id":2740,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/2739\/revisions\/2740"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}