{"id":5994,"date":"2015-02-25T06:56:33","date_gmt":"2015-02-25T11:56:33","guid":{"rendered":"http:\/\/olduvai.ca\/?p=5994"},"modified":"2015-02-25T06:56:33","modified_gmt":"2015-02-25T11:56:33","slug":"kick-the-can-has-morphed-into-a-blatant-farce","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=5994","title":{"rendered":"Kick-The-Can Has Morphed Into A Blatant Farce"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/kick-the-can-has-morphed-into-a-blatant-farce\/\" target=\"_blank\">Kick-The-Can Has Morphed Into A Blatant Farce<\/a><\/h3>\n<p>Kick-the-can\u00a0has\u00a0morphed into a blatant farce. Everywhere in the world central banks and financial officialdom are engaging in desperate, juvenile maneuvers to buy time\u2014\u2013amounting to hardly a few\u00a0weeks at a go. Never before has the debt-saturated, speculation-ridden\u00a0global\u00a0casino rested upon such a precarious foundation.<\/p>\n<p>This week, for instance, Janet Yellen will again waste two days of Congressional hearings in forked-tongue\u00a0equivocations about\u00a0an absolutely stupid issue. Namely, the exact date when money market interest rates will be permitted to blip upward\u00a0from the zero bound by even\u00a025 basis points.<\/p>\n<p>But this \u201clift-off\u201d drama is flat-out surreal. How could it possibly matter whether ZIRP will have been in place by\u00a080 months or 83 months from its inception point way back\u00a0in December 2008? There is not a single\u00a0household or business on main street America\u00a0which will change its behavior in the slightest during the next year regardless of whether the federal funds rate is 5\u00a0bps, 30 bps\u00a0or 130\u00a0bps.<\/p>\n<p>The whole Kabuki dance in the Eccles Building is about hand signals to Wall Street carry traders; its a reflection of the desperate\u00a0fear of our monetary politburo that\u00a0having inflated for the third time this century the mother of all financial bubbles, they must now\u00a0keep it going literally one meeting at a time\u2014lest it splatter again and destroy the illusion that an egregious spree of money printing has saved the main street economy.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kick-The-Can Has Morphed Into A Blatant Farce Kick-the-can\u00a0has\u00a0morphed into a blatant farce. Everywhere in the world central banks and financial officialdom are engaging in desperate, juvenile maneuvers to buy time\u2014\u2013amounting to hardly a few\u00a0weeks at a go. Never before has the debt-saturated, speculation-ridden\u00a0global\u00a0casino rested upon such a precarious foundation. This week, for instance, Janet Yellen [&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":[303,305,451,3767,860,1940,1939],"class_list":["post-5994","post","type-post","status-publish","format-standard","hentry","category-economics","tag-fed","tag-federal-reserve","tag-janet-yellen","tag-kick-the-can","tag-wall-street","tag-zero-interest-rate-policy","tag-zirp"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5994","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=5994"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5994\/revisions"}],"predecessor-version":[{"id":5995,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/5994\/revisions\/5995"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}