{"id":3839,"date":"2015-01-01T16:07:05","date_gmt":"2015-01-01T21:07:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3839"},"modified":"2015-01-01T16:07:05","modified_gmt":"2015-01-01T21:07:05","slug":"wall-street-heathens-how-their-greed-and-gambling-became-the-axe-of-statist-policy-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3839","title":{"rendered":"Wall Street Heathens: How Their Greed And Gambling Became The Axe Of Statist Policy | David Stockman’s Contra Corner"},"content":{"rendered":"

Wall Street Heathens: How Their Greed And Gambling Became The Axe Of Statist Policy | David Stockman’s Contra Corner<\/a>.<\/p>\n

One of the most unfortunate acronyms ever invented was BRIC. It supposedly\u00a0embodied an\u00a0epoch-defining\u00a0ignition of capitalist growth and prosperity in Brazil, Russia, India\u00a0and China. And these leading paragons were held to be emblematic of a general economic awaking in the EM.<\/p>\n

But it\u00a0was no such thing. The BRIC\u00a0countries were actually economic cripples riven with\u00a0socialist and statist policy afflictions\u00a0that had the good fortune to hitch a ride on the central bank fueled credit binge of the last two decades.<\/p>\n

Not surprisingly, the term was invented in 2001 by Goldman\u2019s\u00a0London\u00a0based stock peddler and propagandist, Jim O\u2019Neill. The latter\u2019s patented slide shows about the awesome\u00a0BRIC advance\u00a0were typically bulging with charts and data.\u00a0But what O\u2019Neill\u00a0failed to comprehend was\u00a0that\u00a0these bounteous curves and soaring\u00a0CAGRs\u00a0were tracking a metastasizing monetary\u00a0bubble, not a miracle of capitalist prosperity.<\/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":"

Wall Street Heathens: How Their Greed And Gambling Became The Axe Of Statist Policy | David Stockman’s Contra Corner. One of the most unfortunate acronyms ever invented was BRIC. It supposedly\u00a0embodied an\u00a0epoch-defining\u00a0ignition of capitalist growth and prosperity in Brazil, Russia, India\u00a0and China. And these leading paragons were held to be emblematic of a general economic […]<\/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":[2301,1732,2302,860],"class_list":["post-3839","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bric","tag-emerging-markets","tag-monetary-bubble","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3839","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=3839"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3839\/revisions"}],"predecessor-version":[{"id":3840,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3839\/revisions\/3840"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}