{"id":35968,"date":"2018-07-15T19:26:27","date_gmt":"2018-07-16T00:26:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35968"},"modified":"2018-07-15T19:26:27","modified_gmt":"2018-07-16T00:26:27","slug":"the-market-gods-are-laughing","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35968","title":{"rendered":"The Market Gods Are Laughing"},"content":{"rendered":"
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The Market Gods Are Laughing<\/a><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
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POITOU, FRANCE \u2013 President Trump escalated the trade war yesterday, making a kamikaze attack on a vast armada of Chinese imports \u2013 $200 billion in total \u2013 headed for California.<\/p>\n

The Chinese say they will retaliate.<\/p>\n

Phony Wars<\/strong><\/p>\n

Last month<\/a>, we opined that the trade war wouldn\u2019t go any better than Vietnam\u2026 or Iraq\u2026 or any of the feds\u2019 other phony wars \u2013 against drugs, poverty, or terrorists.<\/p>\n

It will be expensive, futile\u2026 and perhaps disastrous.<\/p>\n

But that doesn\u2019t mean it won\u2019t be popular. Wars give the spectators something to live for \u2013 us versus them\u2026 good guys against bad guys\u2026 winners versus losers.<\/p>\n

Their hat size swells as their champion wallops the Chinese. Their girth shrinks as he challenges and taunts the Canadians. Their manhood grows when the enemy gives in and admits defeat.<\/p>\n

But while this puerile entertainment is taking place in the arena, the real action is going on in the expensive skyboxes, where the elite collude against the fans.<\/p>\n

Wars shift resources from the boring and productive win-win deals in the private sector to the magnificently absurd win-lose deals of the feds and their cronies. The only real winner is the Deep State.<\/p>\n

Weatherman David<\/strong><\/p>\n

We saw our colleague, former U.S. budget chief under President Reagan, David Stockman, on TV yesterday. The interview was painful to watch.<\/p>\n

He was bravely trying to explain the trade deficit and why it was caused by monetary policy, not by trade ramparts that were too low.<\/p>\n

But the young, know-it-all newscasters were such numbskulls \u2013 so lacking in any experience, theory, or historical perspective \u2013 he might as well have been instructing a walrus on how to chew gum. The lesson was in vain.<\/p>\n

The three TV experts saw no problem with the trade deficit\u2026 and no danger approaching from Trump\u2019s war on it.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The Market Gods Are Laughing POITOU, FRANCE \u2013 President Trump escalated the trade war yesterday, making a kamikaze attack on a vast armada of Chinese imports \u2013 $200 billion in total \u2013 headed for California. The Chinese say they will retaliate. Phony Wars Last month, we opined that the trade war wouldn\u2019t go any better […]<\/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":[6190,130,2120,2443,805,4311,827],"class_list":["post-35968","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bill-bonner","tag-china","tag-david-stockman","tag-stock-markets","tag-trade","tag-trade-wars","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35968","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=35968"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35968\/revisions"}],"predecessor-version":[{"id":35969,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35968\/revisions\/35969"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}