{"id":528,"date":"2014-10-24T01:05:50","date_gmt":"2014-10-24T01:05:50","guid":{"rendered":"http:\/\/olduvai.ca\/?p=528"},"modified":"2014-10-24T01:05:50","modified_gmt":"2014-10-24T01:05:50","slug":"the-high-price-of-free-money-now-us-bankers-fear-financial-social-or-political-instability-wolf-street","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=528","title":{"rendered":"The High Price of Free Money: Now US Bankers Fear Financial, Social, or Political \u2018Instability\u2019 | Wolf Street"},"content":{"rendered":"<p><a href=\"http:\/\/wolfstreet.com\/2014\/10\/23\/the-dreadful-price-of-free-money-us-bankers-fear-financial-social-or-political-instability\/\">The High Price of Free Money: Now US Bankers Fear Financial, Social, or Political \u2018Instability\u2019 | Wolf Street<\/a>.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Something is changing about the perception of the Fed\u2019s free-money policies. While we\u2019ve lambasted them for their nefarious effects on the real economy and the inequality they produce, Wall Street, the prime beneficiary, has been bombastically gung-ho about them. And the mainstream media have praised the Fed\u2019s \u201cbold action,\u201d as it\u2019s called, at every twist and turn.<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">But now even Wall Street is getting cold feet. The official warning shot came from Fed Chair Janet Yellen, who admitted suddenly that \u201cthe extent of and continuing increase in inequality in the United States greatly concern me.\u201d<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">Then bankers chimed in. FICO, which produces the infamous\u00a0credit score, found in its latest\u00a0<a style=\"box-sizing: border-box; word-wrap: break-word; color: #0009c4;\" href=\"http:\/\/phx.corporate-ir.net\/phoenix.zhtml?c=67528&amp;p=irol-newsArticle&amp;ID=1979247\">survey<\/a>\u00a0of North American bank risk managers that 62% of them thought \u201cthe wealth gap poses a growing risk to the financial system.\u201d<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">With the economy so dependent on consumer spending, \u201cit makes sense that the concentration of wealth would raise flags among bank risk managers,\u201d explained Andrew Jennings, FICO chief analytics officer. \u201cThis concern was echoed on a global scale by Credit Suisse in a recent report that found many indicators of wealth inequality are reaching levels that could result in social or political instability.\u201d<\/p>\n<p style=\"box-sizing: border-box; word-wrap: break-word;\">&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The High Price of Free Money: Now US Bankers Fear Financial, Social, or Political \u2018Instability\u2019 | Wolf Street. Something is changing about the perception of the Fed\u2019s free-money policies. While we\u2019ve lambasted them for their nefarious effects on the real economy and the inequality they produce, Wall Street, the prime beneficiary, has been bombastically gung-ho [&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":[303,305,310,451,534,860],"class_list":["post-528","post","type-post","status-publish","format-standard","hentry","category-economics","tag-fed","tag-federal-reserve","tag-fico","tag-janet-yellen","tag-monetary-policy","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/528","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=528"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/528\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}