{"id":49886,"date":"2019-11-29T17:24:21","date_gmt":"2019-11-29T22:24:21","guid":{"rendered":"https:\/\/olduvai.ca\/?p=49886"},"modified":"2019-11-29T17:24:23","modified_gmt":"2019-11-29T22:24:23","slug":"the-fed-detests-free-markets","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=49886","title":{"rendered":"The Fed Detests Free Markets"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.theautomaticearth.com\/2019\/11\/the-fed-detests-free-markets\/\">The Fed Detests Free Markets<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.wikiart.org\/en\/paul-gauguin\/tahitians-at-rest-unfinished\"><img decoding=\"async\" src=\"https:\/\/theautomaticearth.com\/wp-content\/uploads\/2019\/11\/GauguinTahitians-at-rest-unfinished1891.jpg\" alt=\"\"\/><\/a><figcaption>Paul Gauguin\u00a0<strong>Tahitians at rest (unfinished)\u00a0<\/strong>1891<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">To be completely honest, I wrote -most of- the second part of this a while ago, and then I was thinking this first part should be part of the second, if you can still follow me. But it doesn\u2019t really, it\u2019s fine. I wanted to write something to address how little people know and acknowledge about how disastrous central bank policies have been for our societies and economies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Because they don\u2019t, and they have no clue, largely and simply because of the way central banks are presented both by themselves and by the financial press that covers them. Make that \u201ccovers\u201d. Still, going forward, we will have no way to ignore the damage done. All the QE and ZIRP and NIRP will turn out to be so destructive for us all they will rival climate change or actual warfare. That\u2019s what I wanted to talk about.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You see, free markets are a great idea in theory. Or you can call it \u201ccapitalism\u201d, or combine the two and say \u201cfree market capitalism\u201d. There\u2019s very little wrong with it in theory. You have an enormous multitude of participants in an utterly complex web of transitions, too complex for the human mind to comprehend, and in the end that web figures out what values all sorts of things, and actions etc., have.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I don\u2019t think capitalism in itself is a bad thing; what people don\u2019t like is when it veers into neo-liberalism, when everything is for sale, when communities or their governments no longer own anything, when roads and hospitals and public services and everything that holds people together in a given setting is being sold off to the highest bidder. There are many things that have values other than monetary ones, and neo-liberalism denies that. Capitalism in itself, not so much.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Fed Detests Free Markets To be completely honest, I wrote -most of- the second part of this a while ago, and then I was thinking this first part should be part of the second, if you can still follow me. But it doesn\u2019t really, it\u2019s fine. I wanted to write something to address how [&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":[2,6],"tags":[85,111,233,303,11048,335,11932,1816,13924,27853,702,27854,5177],"class_list":["post-49886","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-boj","tag-capitalism","tag-ecb","tag-fed","tag-feedback-loops","tag-free-markets","tag-neo-liberalism","tag-pensions","tag-raul-ilargi-meijer","tag-runaway","tag-savings","tag-self-correcting","tag-the-automatic-earth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49886","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=49886"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49886\/revisions"}],"predecessor-version":[{"id":49887,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/49886\/revisions\/49887"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}