{"id":57216,"date":"2021-03-23T06:29:42","date_gmt":"2021-03-23T11:29:42","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57216"},"modified":"2021-03-23T06:29:42","modified_gmt":"2021-03-23T11:29:42","slug":"powell-do-you-even-know-what-the-economy-is","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57216","title":{"rendered":"Powell, Do You Even Know What The Economy Is?"},"content":{"rendered":"

Powell, Do You Even Know What The Economy Is?<\/a><\/h3>\n
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To Clarify, Main Street Is Not Wall Street<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

After all the destructive policies we have seen coming out of the Eccles Building, it may be time to ask Fed Chairman Jerome Powell, “Do you even know what the economy is?”<\/b> All the easing and stimulus has taken us to a place we could call Bubbleville. It has bolstered asset prices and speculation but done little to help Main Street or generate a strong economy. This destructive force was unleashed long before Covid-19 came into the picture and hanging our economic misfortunes on the pandemic may sound reasonable but is far from accurate.History shows that misguided financial policies often end in\u00a0 a crisis, in this case, it is likely to play out in massive inflation. Milton Friedman knew a bit about this, he said;\u00a0The government<\/b>\u00a0benefits<\/b>\u00a0the first<\/b>\u00a0from new<\/b>\u00a0money<\/b>\u00a0creation<\/b>,\u00a0massively<\/b>\u00a0increases its imbalances, and blames inflation on the last\u00a0<\/b>recipients<\/b>\u00a0of the new<\/b>\u00a0money<\/b>\u00a0created, savers and the private sector, so it \u201csolves\u201d the<\/b>\u00a0inflation<\/b>\u00a0created by the government<\/b>\u00a0by taxing citizens again.<\/b>\u00a0Inflation<\/b>\u00a0is taxation without legislation.\u00a0<\/b><\/p>\n\n\n\n\n
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https:\/\/www.youtube.com\/watch?v=PeIeFUJ9EY<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A comical Progressive Insurance commercial has a smooth-faced fella going on about his beard and apologizing for how he looks. Finally, a coworker asks him, “Jamie, do you even know what a beard is?”\u00a0Over the months we have watched Fed Chairman Jerome Powell time and time again cut rates and increase the Fed’s balance sheet. This has hurt savers, forced investors into risky investments in search of yield, damaged the dollar, encouraged politicians to spend like drunken sailors, and increased inequality.<\/b><\/div>\n

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\u2026click on the above link to read the rest of the article\u2026<\/p>\n

bruce wilds, advancing time blog, jerome powell, fed, us federal reserve, bubble, financial policies, fed balance sheet, inflation, taxation, inequality<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Powell, Do You Even Know What The Economy Is? To Clarify, Main Street Is Not Wall Street After all the destructive policies we have seen coming out of the Eccles Building, it may be time to ask Fed Chairman Jerome Powell, “Do you even know what the economy is?” All the easing and stimulus has […]<\/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":[27339,26559,1806,303,7819,31064,425,426,16888,1257,3650],"class_list":["post-57216","post","type-post","status-publish","format-standard","hentry","category-economics","tag-advancing-time-blog","tag-bruce-wilds","tag-bubble","tag-fed","tag-fed-balance-sheet","tag-financial-policies","tag-inequality","tag-inflation","tag-jerome-powell","tag-taxation","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57216","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=57216"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57216\/revisions"}],"predecessor-version":[{"id":57217,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57216\/revisions\/57217"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57216"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57216"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57216"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}