{"id":44419,"date":"2019-03-11T18:53:48","date_gmt":"2019-03-11T23:53:48","guid":{"rendered":"https:\/\/olduvai.ca\/?p=44419"},"modified":"2019-03-11T18:53:52","modified_gmt":"2019-03-11T23:53:52","slug":"ides-and-tides%ef%bb%bf","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=44419","title":{"rendered":"Ides and Tides\ufeff"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"http:\/\/kunstler.com\/clusterfuck-nation\/ides-and-tides\/\">Ides and Tides<\/a><\/h3>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p>Just as presidents are expected to act presidentially, Federal Reserve chairpersons are expected to act oracularly \u2014 as semi-supernatural beings who emerge now and again from some cave of mathematical secrets to offer reassuringly cryptic utterances on mysteries of the economy. And so was Jerome Powell wheeled out on CBS\u2019s&nbsp;<em>60 Minutes<\/em>&nbsp;Sunday night, like a cigar store Indian at an antique fair, so vividly sculpted and colorfully adorned you could almost imagine him saying something.<\/p>\n\n\n\n<p>Maybe it was an hallucination, but I heard him say that \u201cthe economy is in a good place,\u201d and that \u201cthe outlook is a favorable one.\u201d Point taken. Pull the truck up to the loading dock and fill it with Tesla shares! &nbsp;I also thought I heard \u201cInflation is muted.\u201d That must have been the laugh line, since there is almost no single item in the supermarket that goes for under five bucks these days. But really, when was the last time you saw a cigar store Indian at Trader Joes? It took seventeen Federal Reserve math PhD\u2019s to come up with that line,&nbsp;<em>inflation is muted<\/em>.<\/p>\n\n\n\n<p>What you really had to love was Mr. Powell\u2019s explanation for the record number of car owners in default on their monthly payments: \u201c\u2026not everybody is sharing in this widespread prosperity we have.\u201d\u00a0 Errrgghh Errrgghh Errrgghh. Sound of klaxon wailing. What he meant to say was, hedge-funders, private equity hustlers, and C-suite personnel are making out just fine as the asset-stripping of flyover America proceeds, and you miserable, morbidly obese, tattooed gorks watching this out on the Midwestern buzzard flats should have thought twice before dropping out of community college to drive a forklift in the Sysco frozen food warehouse (where, by the way, you are probably stealing half the oven-ready chicken nuggets in inventory).<\/p>\n\n\n\n<p>&nbsp;\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ides and Tides Just as presidents are expected to act presidentially, Federal Reserve chairpersons are expected to act oracularly \u2014 as semi-supernatural beings who emerge now and again from some cave of mathematical secrets to offer reassuringly cryptic utterances on mysteries of the economy. And so was Jerome Powell wheeled out on CBS\u2019s&nbsp;60 Minutes&nbsp;Sunday night, [&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":[14964,426,449,16888,534,3650],"class_list":["post-44419","post","type-post","status-publish","format-standard","hentry","category-economics","tag-clusterfuck-nation","tag-inflation","tag-james-howard-kunstler","tag-jerome-powell","tag-monetary-policy","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44419","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=44419"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44419\/revisions"}],"predecessor-version":[{"id":44420,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/44419\/revisions\/44420"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}