{"id":33322,"date":"2018-04-11T10:57:39","date_gmt":"2018-04-11T15:57:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33322"},"modified":"2018-04-11T10:57:39","modified_gmt":"2018-04-11T15:57:39","slug":"jerome-is-the-new-janet-tie-trousers-and-same-old-keynesian-jabberwocky","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33322","title":{"rendered":"Jerome Is The New Janet: Tie, Trousers And Same Old Keynesian Jabberwocky"},"content":{"rendered":"

Jerome Is The New Janet: Tie, Trousers And Same Old Keynesian Jabberwocky<\/a><\/h3>\n
\n

The election of 2016 was supposed to be the most disruptive break with the status quo in modern history, if ever. On the single most important decision of his tenure, however, the Donald has lined-up check-by-jowl with\u00a0Barry and Dubya, too.<\/p>\n

That is to say, Trump’s new Fed chairman, Jerome Powell, amounts to Janet Yellen\u00a0in trousers and tie.\u00a0In fact, you can make it a three-part composite by adding\u00a0Bernanke with a full head\u00a0of hair and Greenspan sans the mumble.<\/p>\n

The overarching\u00a0point here is that the great problems plaguing American society—scarcity of good jobs, punk GDP growth, faltering\u00a0productivity, raging wealth mal-distribution, massive indebtedness, egregious speculative bubbles, fiscally incontinent government—-are overwhelmingly caused by our rogue central bank. They are the fetid fruits of massive and sustained financial repression and falsification of the most import prices in all of capitalism—–the prices of money, debt, equities and other financial assets.<\/p>\n

Moreover, the worst of it is that the Fed is overwhelmingly the province of an unelected politburo that rules by the lights of its own Keynesian\u00a0groupthink and by the hypnotic power\u00a0of its Big Lie. So powerful is the latter that American\u00a0democracy has meekly seconded\u00a0vast,\u00a0open-ended power to dominate the financial\u00a0markets, and therefore the\u00a0warp and woof of the nation’s $19 trillion<\/strong><\/em>economy, to\u00a0a tiny priesthood possessing neither of the usual instruments of rule.<\/p>\n

That is to say,\u00a0never before\u00a0in history has a people so completely and abjectly surrendered to an occupying power—even though its ostensibly democratic government\u00a0already\u00a0possessed all the votes and all the guns.<\/p>\n

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

Jerome Is The New Janet: Tie, Trousers And Same Old Keynesian Jabberwocky The election of 2016 was supposed to be the most disruptive break with the status quo in modern history, if ever. On the single most important decision of his tenure, however, the Donald has lined-up check-by-jowl with\u00a0Barry and Dubya, too. That is to […]<\/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":[1799,122,5979,2120,7844,303,353,19762,16888,467,2864,3650],"class_list":["post-33322","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bubbles","tag-central-bank","tag-contracorner","tag-david-stockman","tag-donald-trump","tag-fed","tag-gdp","tag-janet-yellen-ben-bernanke","tag-jerome-powell","tag-keynesian-economics","tag-lies","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33322","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=33322"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33322\/revisions"}],"predecessor-version":[{"id":33323,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33322\/revisions\/33323"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}