{"id":47382,"date":"2019-07-23T09:02:35","date_gmt":"2019-07-23T14:02:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47382"},"modified":"2019-07-23T09:02:42","modified_gmt":"2019-07-23T14:02:42","slug":"blains-morning-porridge-july-23rd-2019","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47382","title":{"rendered":"Blain’s Morning Porridge – July 23rd 2019"},"content":{"rendered":"\n

Blain’s Morning Porridge – July 23rd 2019<\/a><\/h3>\n\n\n\n
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\u201cCaught in the chaos of the market square, I don\u2019t know what, I don\u2019t know why, but something\u2019s wrong down there\u2026 \u201c<\/em><\/p>\n\n\n\n

As we are about to find out\u2026 Jokes aren\u2019t so funny when you find yourself to be the butt. <\/p>\n\n\n\n

How is a whole country going to feel? I\u2019ve never felt so inclined to punch the TV as when watching an oiky spotty brat boasting to camera in plummy Eton tones about how his vote for Boris will save the UK. Retching noises\u2026 <\/p>\n\n\n\n

Moving on\u2026 <\/strong><\/p>\n\n\n\n

Fascinating article in FT this morning written by BlackRock\u2019s head of global fixed-income, Rick Rieder: ECB can boost growth across Europe by buying stocks<\/a>. Er, I how do I tell the world\u2019s largest investor that\u2019s about the stupidest idea I\u2019ve heard in a long time? I completely agree Europe needs to urgently address and formulate policy to solve long-term and especially youth unemployment \u2013 but not through more distorting Monetary Experimentation by Central Banks. Yeah, cos that\u2019s been a massive success..<\/p>\n\n\n\n

The danger of a central bank pumping money into financial markets by buying stocks is simple \u2013 money invested in financial assets (stocks and shares) stays in financial assets. That\u2019s the clear lesson we\u2019ve seen over past 10 years. Trillions of QE cash has caused massive inflation in financial assets, but barely grazed the real economy. If you want a full explanation, then buy my book: The Fifth Horseman \u2013 How to Destroy the Global Economy<\/a>, for the full theory. <\/p>\n\n\n\n

Even Mr Rieder makes the point the US has created many $1 bln tech unicorns without having to rely to central bank largesse to create and fund them. Why can\u2019t Europe? Clue: it\u2019s not because the ECB isn\u2019t buying stocks!!<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

Blain’s Morning Porridge – July 23rd 2019 \u201cCaught in the chaos of the market square, I don\u2019t know what, I don\u2019t know why, but something\u2019s wrong down there\u2026 \u201c As we are about to find out\u2026 Jokes aren\u2019t so funny when you find yourself to be the butt.  How is a whole country going to […]<\/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":[15674,23143,26340,431,534],"class_list":["post-47382","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bill-blain","tag-blains-morning-porridge","tag-financial-maekts","tag-interest-rates","tag-monetary-policy"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47382","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=47382"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47382\/revisions"}],"predecessor-version":[{"id":47384,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47382\/revisions\/47384"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}