{"id":27875,"date":"2017-11-11T17:02:30","date_gmt":"2017-11-11T22:02:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27875"},"modified":"2017-11-11T17:02:30","modified_gmt":"2017-11-11T22:02:30","slug":"caution-slowdown","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27875","title":{"rendered":"Caution: Slowdown"},"content":{"rendered":"

Caution: Slowdown<\/a><\/h3>\n
Many of you know I keep posting charts keeping taps on the macro picture in the Macro Corner<\/strong><\/em><\/a>. It\u2019s actually an interesting exercise watching what they do versus what they say. Public narratives versus reality on the ground.<\/p>\n

I know there\u2019s a lot of talk of global synchronized expansion<\/strong><\/em><\/a>. I call synchronized bullshit.<\/p>\n

Institutions will not warn investors or consumers. They never do. Banks won\u2019t warn consumers because they need consumers to spend and take up loans and invest money in markets. Governments won\u2019t warn people for precisely the same reason. And certainly central banks won\u2019t warn consumers. They are all in the confidence game.<\/p>\n

Well, I am sending a stern warning: The underlying data is getting uglier. Things are slowing down. And not by just a bit, but by a lot. And I\u2019ll show you with the Fed\u2019s own data that is in stark contrast to all the public rah rah.<\/p>\n

Look, nobody wants recessions, They are tough and ugly, but our global economy is on based on debt and debt expansion. Pure and simple. And all that is predicated on keeping confidence up. Confident people spend more and growth begets growth.<\/p>\n

But here\u2019s the problem: Despite all the global central bank efforts to stimulate growth real growth has never emerged. Mind you all this is will rates still near historic lows:<\/p>\n

\"\"<\/a><\/p>\n

And central banks supposedly are reducing the spigots come in 2018:<\/p>\n

\"\"<\/a><\/p>\n

I believe it when I see it. In September the FED told everyone they would start reducing their balance sheet in October. It\u2019s November:<\/p>\n

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

Caution: Slowdown Many of you know I keep posting charts keeping taps on the macro picture in the Macro Corner. It\u2019s actually an interesting exercise watching what they do versus what they say. Public narratives versus reality on the ground. I know there\u2019s a lot of talk of global synchronized expansion. I call synchronized bullshit. […]<\/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":[124,303,1357,3787,7542,1234,3650],"class_list":["post-27875","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-fed","tag-global-growth","tag-macroeconomics","tag-northman-trader","tag-stimulus","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27875","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=27875"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27875\/revisions"}],"predecessor-version":[{"id":27876,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27875\/revisions\/27876"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}