{"id":61782,"date":"2022-02-04T11:24:01","date_gmt":"2022-02-04T16:24:01","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61782"},"modified":"2022-02-04T11:24:01","modified_gmt":"2022-02-04T16:24:01","slug":"potemkin-economy-costs-consequences","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61782","title":{"rendered":"Potemkin Economy: Costs & Consequences"},"content":{"rendered":"
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Potemkin Economy: Costs & Consequences<\/a><\/h3>\n
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A Potemkin economy has lured the Fed, economists, and Wall Street analysts into a potentially dangerous assumption of economic normalcy. However, with a review of how we got here, we can better understand the costs and consequences of monetary interventions.<\/p>\n

\u201cIn 1783, after the Russian\u00a0annexation of Crimea\u00a0from the\u00a0Ottoman Empire\u00a0and the liquidation of the Cossack\u00a0Zaporozhian Sich, GrigoryPotemkin became governor of the region. Crimea, devastated by the war, and the Muslim\u00a0Tatar\u00a0inhabitants became viewed as a potential\u00a0fifth column\u00a0of the Ottoman Empire. Potemkin\u2019s major tasks were to pacify and rebuild the country by bringing in Russian settlers.<\/em><\/p>\n

In 1787, as a new war was about to break out between Russia and the Ottoman Empire, Catherine II, with her court and several ambassadors, made an unprecedented\u00a0six-month trip to New Russia. One purpose of this trip was to impress Russia\u2019s allies prior to the war. Another purpose was to familiarize herself, supposedly directly, with her new possessions.To help accomplish this, Potemkin set up \u201cmobile villages\u201d on the banks of the\u00a0Dnieper River. As soon as the barge carrying the Empress and ambassadors arrived, Potemkin\u2019s men, dressed as peasants, would populate the village. Once the barge left, the village was disassembled, then rebuilt downstream overnight.\u201d \u2013 Wikipedia<\/em><\/p><\/blockquote>\n

While there is some debate about the accuracy of the story, in politics and economics, a\u00a0Potemkin village<\/strong>\u00a0is any construction (literal or figurative)\u00a0whose sole purpose is to provide an external fa\u00e7ade to lead the population to believe the country is faring better than reality.\u00a0<\/strong><\/p>\n

A reasonable amount of data suggests the Federal Reserve and the Government created such a facade.<\/p>\n

A Potemkin Market<\/strong><\/p>\n

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

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Potemkin Economy: Costs & Consequences A Potemkin economy has lured the Fed, economists, and Wall Street analysts into a potentially dangerous assumption of economic normalcy. However, with a review of how we got here, we can better understand the costs and consequences of monetary interventions. \u201cIn 1783, after the Russian\u00a0annexation of Crimea\u00a0from the\u00a0Ottoman Empire\u00a0and the […]<\/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":[303,8511,11995,15470,3650],"class_list":["post-61782","post","type-post","status-publish","format-standard","hentry","category-economics","tag-fed","tag-lance-roberts","tag-potemkin-village","tag-real-investment-advice","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61782","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=61782"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61782\/revisions"}],"predecessor-version":[{"id":61783,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61782\/revisions\/61783"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}