{"id":43722,"date":"2019-02-11T09:34:32","date_gmt":"2019-02-11T14:34:32","guid":{"rendered":"https:\/\/olduvai.ca\/?p=43722"},"modified":"2019-02-11T09:34:37","modified_gmt":"2019-02-11T14:34:37","slug":"blains-morning-porridge-11th-february-2019","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=43722","title":{"rendered":"Blain\u2019s Morning Porridge  &#8211; 11th February  2019"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong><a href=\"https:\/\/morningporridge.com\/the-morning-porridge\/f\/blains-morning-porridge---feb-11-2019---exposure\">Blain\u2019s Morning Porridge \u00a0&#8211; 11th February \u00a02019<\/a><\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cA little bit of an altercation in the scrum, they\u2019ll be laughing at that in Hawick.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What a fascinating world we live in.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Amazon boss Jeff Bezos exposing himself, and exposes the National Inquirer for attempted blackmail. A young senator, Alexandria Ocasio-Cortez, snaring the headlines and proposing a preposterous New Green Deal \u2013 while further splitting the Democrats. Europe plunging back into recession. The UK no closer to a Brexit Deal (hang-on, that\u2019s not a headline\u2026 that\u2019s just\u2026 normal..) Deutsche Bank paying up to demonstrate it can borrow in markets. Santander facing a Euro 50 bln breach of promise lawsuit from Andreas Orcel (proving the Spanish banking adage: At Santander \u2013 you are either a Botin or a.. servant..) So much out there\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Are all these things linked? Yes \u2013 the world we live in determines the functionality of global markets. You might believe Washington Post owner Jeff Bezos was the victim of an Inquirer effort to \u201ccatch and kill\u201d a story the paper has on Mr Trump\u2019s activities in Moscow, or you might believe Deutsche Bank\u2019s problems are part of a deeper malaise across European banking. Whatever\u2026 the news changes our perceptions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The trick is too separate the chaos of new flow from the tau of markets. Markets are linear functions of buy\/sell \u2013 they are not necessarily about common sense. To illustrate: last week I wrote about Italy, pointing out just how hopelessly its ensnared and entrapped within the straight-jacket of the Euro, with little prospect of growth, employment or upside.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yet Italian bonds are one of the top performing assets \u2013 AND WILL REMAIN SO \u2013 because the ECB can\u2019t afford to let Italy go, and Europe sliding back into downturn pretty much ensures they\u2019ll continue to bailout Italy and likely resurrect QE in some form \u2013 watch out for something like long-term repos.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blain\u2019s Morning Porridge \u00a0&#8211; 11th February \u00a02019 \u201cA little bit of an altercation in the scrum, they\u2019ll be laughing at that in Hawick.\u201d What a fascinating world we live in. Amazon boss Jeff Bezos exposing himself, and exposes the National Inquirer for attempted blackmail. A young senator, Alexandria Ocasio-Cortez, snaring the headlines and proposing a [&hellip;]<\/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":[24374,15674,281,15811,22663,1264],"class_list":["post-43722","post","type-post","status-publish","format-standard","hentry","category-economics","tag-alexandria-occasion-cortez","tag-bill-blain","tag-europe","tag-jeff-bezos","tag-morning-porridge","tag-recession"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43722","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=43722"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43722\/revisions"}],"predecessor-version":[{"id":43723,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/43722\/revisions\/43723"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}