{"id":3411,"date":"2014-12-22T12:21:12","date_gmt":"2014-12-22T17:21:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3411"},"modified":"2014-12-22T12:21:12","modified_gmt":"2014-12-22T17:21:12","slug":"if-wishes-were-loaves-and-fishes-kunstler","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3411","title":{"rendered":"If Wishes Were Loaves and Fishes | KUNSTLER"},"content":{"rendered":"

If Wishes Were Loaves and Fishes | KUNSTLER<\/a>.<\/p>\n

J<\/span><\/span>anet Yellen and her Federal Reserve board of augurers might as well have spilled a bucket of goat entrails down the steps of the mysterious Eccles Building as they parsed, sliced, and diced the ramifications in altering their prior declaration of \u201ca considerable period\u201d (that is, before raising interest rates), vis-\u00e0-vis the simpler new imperative, \u201cpatience,\u201d with its moral overburden of public censure aimed at those too eager for clarity \u2014 that is to say, the assurance that the Fed will not pull the plug on their life-support drip of funny money for the racketeering operation that banking has become.<\/span><\/p>\n

The vapid pronouncement of \u201cpatience\u201d provoked delirium in the markets, with record advances to new oxygen-thin heights. Behind all this ceremonial hugger-mugger lurks the dark suspicion that the Federal Reserve has no idea what\u2019s actually going on, and no idea what it\u2019s doing. And in the absence of any such ideas, Ms. Yellen and her collegial eminences have engineered a very elaborate rationale for doing nothing.<\/span><\/p>\n

The truth is, they have already done enough. They have succeeded via their dial-tweaking interventions in destroying the agency of markets so that nobody can tell the difference anymore between prices and wishes. Coincidentally, it is that most wishful time of the year, especially among the professional money managers polishing their clients\u2019 portfolios as the carols are sung and the champagne corks pop. Ms. Yellen should have put on a Santa Claus suit when she ventured out to meet the media last week.<\/span><\/p>\n

<\/p>\n

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

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

If Wishes Were Loaves and Fishes | KUNSTLER. Janet Yellen and her Federal Reserve board of augurers might as well have spilled a bucket of goat entrails down the steps of the mysterious Eccles Building as they parsed, sliced, and diced the ramifications in altering their prior declaration of \u201ca considerable period\u201d (that is, before […]<\/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":[1036,1668,303,305,451],"class_list":["post-3411","post","type-post","status-publish","format-standard","hentry","category-economics","tag-currency-collapse","tag-derivatives","tag-fed","tag-federal-reserve","tag-janet-yellen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3411","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=3411"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3411\/revisions"}],"predecessor-version":[{"id":3412,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3411\/revisions\/3412"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}