{"id":4495,"date":"2015-01-13T15:28:46","date_gmt":"2015-01-13T20:28:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4495"},"modified":"2015-01-13T15:28:46","modified_gmt":"2015-01-13T20:28:46","slug":"either-crude-or-copper","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4495","title":{"rendered":"Either Crude or Copper"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/www.alhambrapartners.com\/2015\/01\/12\/either-crude-or-copper\/\" target=\"_blank\">Either Crude or Copper<\/a><\/h3>\n<p>The primacy of the monetary pyramid in 2015 is not really about money as it is all ideology. If you believe that monetary policy provides \u201cstimulus\u201d then you immediately remove all thoughts of any economic decline during times when monetarism is most active. Since \u201cit works\u201d then all else must fall into place. Contrary indications are thus given extraordinary lengths to maintain logical consistency.<\/p>\n<p>Economic commentary as it exists is incredibly short-sighted, though there is no reason to believe that is anything other than exactly what I stated above. The state of economics even as a discipline has internalized Keynes so deeply that all that matters is what happens month-to-month. That makes it easier to maintain the status quo of opinion about \u201cstimulus\u201d \u2013 in the short run it is very easy to find a suggestion for something behaving \u201cunexpectedly.\u201d<\/p>\n<p>That was certainly the case with crude oil prices these past few months, as the initial impulse was uniformly and incessantly prodded to over-supply. Again, the reasoning behind that was simply since \u201cstimulus\u201d works and it was being practiced and replicated all over the world there was no possible means by which \u201cdemand\u201d might drop, and so precipitously. After a few weeks of oil \u201cunexpectedly\u201d falling further, re-assurances were more difficult and increasingly derivative by nature.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Either Crude or Copper The primacy of the monetary pyramid in 2015 is not really about money as it is all ideology. If you believe that monetary policy provides \u201cstimulus\u201d then you immediately remove all thoughts of any economic decline during times when monetarism is most active. Since \u201cit works\u201d then all else must fall [&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":[151,2656,184,466,534,589,1775],"class_list":["post-4495","post","type-post","status-publish","format-standard","hentry","category-economics","tag-commodities","tag-copper","tag-crude-oil","tag-keynes","tag-monetary-policy","tag-oil-demand","tag-oil-price-collapse"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4495","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=4495"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4495\/revisions"}],"predecessor-version":[{"id":4496,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4495\/revisions\/4496"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}