{"id":46501,"date":"2019-05-31T18:48:18","date_gmt":"2019-05-31T23:48:18","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46501"},"modified":"2019-05-31T18:48:23","modified_gmt":"2019-05-31T23:48:23","slug":"the-ugly-end-of-globalization","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46501","title":{"rendered":"The Ugly End of Globalization"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/economicprism.com\/the-ugly-end-of-globalization\/\">The Ugly End of Globalization<\/a><\/h3>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/economicprism.com\/the-ugly-end-of-globalization\/\"><img decoding=\"async\" src=\"https:\/\/economicprism.com\/wp-content\/uploads\/2013\/12\/Earth.png\" alt=\"\" class=\"wp-image-3152\"\/><\/a><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Sometime in the fall of 2018 a lowly gofer at the New York Stock Exchange was sweating&nbsp; bullets.&nbsp; He\u2019d made an honest mistake.&nbsp; One that could forever tag him a buffoon.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After trading sideways for most of the spring, the Dow Jones Industrial Average was on the move.&nbsp; When it closed at 26,828 on October 3, it appeared the Dow was but one trading day away from eclipsing 27,000.&nbsp; Everyone, including Jim Cramer, just knew it was about to happen.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And this was precisely what the NYSE gofer feared most.&nbsp; For he\u2019d failed to procure Dow 27,000 hats.&nbsp; What a shame it would be for Wall Street\u2019s most revered index to notch this historic milestone with no commemorative hats for floor traders to put on while they go bananas.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But then a miracle happen.&nbsp; The Dow didn\u2019t go up; rather, it went down.&nbsp; A week later, to the gofers relief, the Dow 27,000 hats arrived\u2026in advance of Dow 27,000.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And now, nearly eight months later, Dow 27,000 remains elusive.&nbsp; After pulling back in October of last year, the Dow made another run at it last month.&nbsp; But, again, fell short.&nbsp; Hence, the hats remain stowed away in a box in the back of a broom closet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By our estimation, that\u2019s where the Dow 27,000 hats will stay until about 2050 \u2013 or even later.&nbsp; Moreover, when it\u2019s finally time to pull them out, we suspect Wall Street cheerleading will have long since gone out of style.&nbsp; What a waste of perfectly good hats.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But fear not.&nbsp; All\u2019s not lost\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Another Day in Paradise<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By all commonly accepted weights and measures we\u2019re living in paradise.&nbsp; Our federal government\u2019s broke.&nbsp; Our state and local governments are crazy as ever.&nbsp; Yet things still work wonderfully well.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0\u2026click on the above link to read the rest of the article\u2026<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ugly End of Globalization Sometime in the fall of 2018 a lowly gofer at the New York Stock Exchange was sweating&nbsp; bullets.&nbsp; He\u2019d made an honest mistake.&nbsp; One that could forever tag him a buffoon. After trading sideways for most of the spring, the Dow Jones Industrial Average was on the move.&nbsp; When it [&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":[1849,370],"class_list":["post-46501","post","type-post","status-publish","format-standard","hentry","category-economics","tag-financial-markets","tag-globalization"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46501","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=46501"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46501\/revisions"}],"predecessor-version":[{"id":46502,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46501\/revisions\/46502"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46501"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46501"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46501"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}