{"id":59349,"date":"2021-09-17T09:54:38","date_gmt":"2021-09-17T14:54:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59349"},"modified":"2021-09-17T09:54:38","modified_gmt":"2021-09-17T14:54:38","slug":"rabobank-we-live-in-a-world-without-consequences-where-everyone-is-corrupt","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59349","title":{"rendered":"Rabobank: We Live In A World Without Consequences Where Everyone Is Corrupt"},"content":{"rendered":"
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Rabobank: We Live In A World Without Consequences Where Everyone Is Corrupt<\/a><\/h3>\n<\/header>\n
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Salo News Day<\/strong><\/p>\n

Regular readers will know I am a cynic. Try writing a Daily for over two decades and not be \u2013 and events over the last 24 hours underline that fact. Indeed, you could call it a \u201cSalo News Day\u201d in reference to the controversial Italian film \u201cSal\u00f2, or the 120 Days of Sodom<\/a>\u201d, a loose adaptation of the 1785 novel by the Marquis de Sade. As Wikipedia puts it: \u201cThe film explores themes of political corruption, consumerism, authoritarianism, nihilism, morality, capitalism, totalitarianism, sadism, sexuality, and fascism.\u201d In other words, a typical day at work in the markets of 2021.<\/p>\n

After all, the Wall Street Journal reports \u201cWorld Bank Cancels Flagship \u2018Doing Business\u2019 Report After Investigation<\/a><\/strong>\u201d, frustrating to economists who rely on it. The rub is:\u00a0\u201cChinese officials in 2018 were eager to see their ranking improve, and so Mr. Kim and Ms. Georgieva and their staff held a series of meetings to discuss ways that the report\u2019s methodology could be altered to improve China\u2019s rankings.\u201d\u00a0<\/em>So untrustworthy World Bank data \u2013 and no consequences; a World Bank boss with a stained reputation \u2013 and no consequences; and an IMF boss with a stained reputation \u2013 and no consequences. That makes it two in a row for the IMF, with the previous one now running the ECB.<\/p>\n

At the Fed, \u201cPowell orders ethics review after Fed presidents disclosed multimillion-dollar investments<\/a><\/strong>\u201d. Somehow this ethical violation on the part of the people running the global financial system passed them by until now. Yet is this really rare? How about if a rate-setter at a central bank told you over lunch about the land their company was snapping up for development? That happens – just not at the Fed. (As far as I know.)<\/p>\n

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

Rabobank: We Live In A World Without Consequences Where Everyone Is Corrupt Salo News Day Regular readers will know I am a cynic. Try writing a Daily for over two decades and not be \u2013 and events over the last 24 hours underline that fact. Indeed, you could call it a \u201cSalo News Day\u201d in […]<\/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":[1769,303,24135,24136,3650],"class_list":["post-59349","post","type-post","status-publish","format-standard","hentry","category-economics","tag-corruption","tag-fed","tag-michael-every","tag-rabobank","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59349","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=59349"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59349\/revisions"}],"predecessor-version":[{"id":59350,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59349\/revisions\/59350"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}