{"id":37512,"date":"2018-09-08T12:24:48","date_gmt":"2018-09-08T17:24:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37512"},"modified":"2018-09-08T12:24:48","modified_gmt":"2018-09-08T17:24:48","slug":"chart-of-the-week-playing-with-dominoes","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37512","title":{"rendered":"Chart of the Week: Playing With Dominoes"},"content":{"rendered":"
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Chart of the Week: Playing With Dominoes<\/a><\/h3>\n<\/div>\n
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The Great \u201cRecession\u201d was never a recession. It was a monetary event first and foremost, and it continues to be eleven years later. That means by and large it has been a failure of imagination. Central bankers say they\u2019ve done this and that, but what they\u2019ve never done, apart from actually succeed, is examine the way money actually works in this modern world. Greenspan said it in June 2000, this \u201cproliferation of products.\u201d What might happen if they no longer proliferate?<\/p>\n

You\u2019d have to imagine an answer because they have none.<\/p>\n

In the spirit of imagination, use yours to mentally draw in below DXY or some other equivalent eurodollar signal like repo or even EFF. None of our economic problems are really that difficult. They just don\u2019t fit in the narrow box Economists have constructed so that their DSGE models can be free from singularities. It\u2019s nice, I suppose, eliminating infinities from certain equations (\u201crational\u201d rather than adaptive expectations) but at the expense of macro competence?<\/p>\n

It takes very little imagination, actually, to see how they really have no idea what they are doing.<\/p>\n

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Chart of the Week: Playing With Dominoes The Great \u201cRecession\u201d was never a recession. It was a monetary event first and foremost, and it continues to be eleven years later. That means by and large it has been a failure of imagination. Central bankers say they\u2019ve done this and that, but what they\u2019ve never done, […]<\/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":[11182,124,384,13578,1264],"class_list":["post-37512","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alhambra-investment-partners","tag-central-banks","tag-great-recession","tag-jeffrey-p-snider","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37512","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=37512"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37512\/revisions"}],"predecessor-version":[{"id":37513,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37512\/revisions\/37513"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}