{"id":3413,"date":"2014-12-22T12:26:52","date_gmt":"2014-12-22T17:26:52","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3413"},"modified":"2014-12-22T12:26:52","modified_gmt":"2014-12-22T17:26:52","slug":"grow-your-way-out-of-debt-dont-make-us-laugh","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3413","title":{"rendered":"Grow Your Way Out of Debt? Don\u2019t Make Us Laugh \u2026 |"},"content":{"rendered":"

Grow Your Way Out of Debt? Don\u2019t Make Us Laugh \u2026 |<\/a>.<\/p>\n

What Did She Mean?<\/strong><\/h3>\n

Janet Yellen made headlines yesterday. She promised the Fed would be \u201cpatient\u201d in raising interest rates. Investors must not have known what she meant.<\/p>\n

With the Dow tearing more than 421 points \u2013 or 2.4% \u2013 higher, half of investors must have thought she meant higher rates later than expected. The other half must have thought she meant higher rates sooner than expected. Treasury bond prices fell. And the yield on the 10-year T-note completed its biggest two-day move higher in 17 months.<\/p>\n

Investors give Ms. Yellen far too much credence either way. Will she raise rates sooner\u2026 or later? She probably doesn\u2019t know. She is just reading the newspapers as we do, and wondering when she can get away with it.<\/p>\n

She looks in the mirror in the morning and gasps\u2026 incredulous of the way people overestimate her. She knows \u2013 at least before putting on her makeup \u2013 that the whole thing is nothing but face paint and false accounting.<\/p>\n

Yellen just doesn\u2019t want to be the Fed chief who has to admit it. And she certainly doesn\u2019t want to be remembered as the one who finally popped the biggest credit bubble in history and ushered in a global depression.<\/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":"

Grow Your Way Out of Debt? Don\u2019t Make Us Laugh \u2026 |. What Did She Mean? Janet Yellen made headlines yesterday. She promised the Fed would be \u201cpatient\u201d in raising interest rates. Investors must not have known what she meant. With the Dow tearing more than 421 points \u2013 or 2.4% \u2013 higher, half of […]<\/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":[195,305,391,431,451],"class_list":["post-3413","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-federal-reserve","tag-growth","tag-interest-rates","tag-janet-yellen"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3413","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=3413"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3413\/revisions"}],"predecessor-version":[{"id":3414,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3413\/revisions\/3414"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}