{"id":40889,"date":"2018-11-24T12:10:06","date_gmt":"2018-11-24T17:10:06","guid":{"rendered":"http:\/\/olduvai.ca\/?p=40889"},"modified":"2018-11-24T12:10:06","modified_gmt":"2018-11-24T17:10:06","slug":"holiday-doings-and-undoings","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=40889","title":{"rendered":"Holiday Doings and Undoings"},"content":{"rendered":"
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Holiday Doings and Undoings<\/a><\/h3>\n<\/div>\n<\/div>\n
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Somehow I doubt that this Christmas will win the Bing Crosby star of approval. Rather, we see the financial markets breaking under the strain of sustained institutionalized fraud, and the social fabric tearing from persistent systemic political dishonesty. It adds up to a nation that can\u2019t navigate through reality, a nation too dependent on sure things, safe spaces, and happy outcomes. Every few decades a message comes from the Universe that faking it is not good enough.<\/p>\n

The main message from the financials is that the global debt barge has run aground, and with it, the global economy. That mighty engine has been chugging along on promises-to-pay and now the faith that sustained those promises is dissolving. China, Euroland, and the USA can\u2019t possibly meet their tangled obligations, and are running out of tricks for rigging, gaming, and jacking the bond markets, where all those promises are vested. It boils down to a whole lot of people not getting paid, one way or the other \u2014 and it\u2019s really bad for business.<\/p>\n

Our President has taken full credit for the bubblicious markets, of course, and will be Hooverized as they gurgle around the drain. Given his chimerical personality, he may try to put on an FDR mask \u2014 perhaps even sit in a wheelchair \u2014 and try a few grand-scale policy tricks to escape the vortex. But the net effect will surely be to make matters worse \u2014 for instance, if he can hector the Federal Reserve to buy every bond that isn\u2019t nailed to some deadly derivative booby-trap. But then he\u2019ll only succeed in crashing the dollar. Remember, there are two main ways you can go broke: You can run out of money; or you can have plenty of worthless money.<\/p>\n

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

Holiday Doings and Undoings Somehow I doubt that this Christmas will win the Bing Crosby star of approval. Rather, we see the financial markets breaking under the strain of sustained institutionalized fraud, and the social fabric tearing from persistent systemic political dishonesty. It adds up to a nation that can\u2019t navigate through reality, a nation […]<\/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":[2,5],"tags":[14964,145,7844,303,1849,449,512,536,21167,3650],"class_list":["post-40889","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-clusterfuck-nation","tag-cnn","tag-donald-trump","tag-fed","tag-financial-markets","tag-james-howard-kunstler","tag-media","tag-money","tag-the-new-york-times","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40889","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=40889"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40889\/revisions"}],"predecessor-version":[{"id":40890,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/40889\/revisions\/40890"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}