{"id":4640,"date":"2015-01-19T20:24:05","date_gmt":"2015-01-20T01:24:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4640"},"modified":"2015-01-19T20:24:05","modified_gmt":"2015-01-20T01:24:05","slug":"the-end-of-the-world-of-finance-as-we-know-it","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4640","title":{"rendered":"The End Of The World Of Finance As We Know It"},"content":{"rendered":"

The End Of The World Of Finance As We Know It<\/a><\/h3>\n

I\u2019ve said before, and quite a while ago too, \u2013 more than once-, that the world of investing as we\u2019ve come to know it is over. It\u2019s still as true as it was then, and I can only hope that more people today understand why it is true, and why I said it in the past. The basic underlying argument then and now is that financial markets have been distorted to such an extent by the activities, the interventions, of central banks \u2013 and governments -, that they can no longer function, period.<\/p>\n

What we\u2019ve seen since 2008 \u2013 not that things were fine and rosy before that \u2013 is that all \u2018private\u2019 losses were taken over by the public sector, just so the private sector didn\u2019t have to fess up to what it lost, and the appearance of a functioning market system could be upheld. And those who organized this charade were dead on in thinking that as long as Dow and S&P numbers would look good, and they said \u2018recovery\u2019 in the media often enough, people would believe there still was a functioning financial marketplace. And they did. But those days are over. Or at least, they soon will be.<\/p>\n

What I mean by that is that the functioning marketplace is long gone, and only now people\u2019s beliefs, too, about it are changing, being forced to change, and soon quite radically. The entire idea that ruled the world of finance and kept it -seemingly \u2013 standing upright is crumbling fast. And we\u2019re going to have to find a way to deal with that. As of today, we have none, we come up zero. The overriding narrative \u2013 which overrides every other thought \u2013 is that we\u2019re on our way back to recovery. And then we\u2019ll get back to becoming ever richer, live in ever bigger homes and drive ever bigger, smarter and faster cars. Or something in that vein.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The End Of The World Of Finance As We Know It I\u2019ve said before, and quite a while ago too, \u2013 more than once-, that the world of investing as we\u2019ve come to know it is over. It\u2019s still as true as it was then, and I can only hope that more people today understand […]<\/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":[124,236,240,244,312,391,670],"class_list":["post-4640","post","type-post","status-publish","format-standard","hentry","category-economics","tag-central-banks","tag-economic-collapse","tag-economic-growth","tag-economics-2","tag-financial-crisis","tag-growth","tag-recovery"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4640","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=4640"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4640\/revisions"}],"predecessor-version":[{"id":4641,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4640\/revisions\/4641"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}