Fed Normalization II

[vt]

http://manonthemargin.com/fed-normalization-ii/

[thriftyandboringinohio]

Re: Fed Normalization II

Nice find, vt.
My favorite bit

...We also cannot lament what central banks have squandered with their decade long monetary liquidity flood experiment. A decade where zero bound central bank manipulated interest rates dried up IPOs in favor of M&A. Where corporations diverted capital into stock buybacks and financial engineering rather than R&D and capital expansion. Where capital flowed to the hypertrophy of finance rather than the entrepreneur. The massive $5.1 trillion of daily currency churning to maintain our global central bank fiat construct subtracts directly from the productive economy. Lost from squandered capital are the next technological advances and medical cures. Instead, squandered capital widened the inequality gap, diverted to the one percent, while the middle class, wage earners, and pensioners fell further behind. A dissipated standard of living is the Fed’s QE gift to the productive class. ...

[Mega]

Re: Fed Normalization II

You know,............i keep on praying for a return to full free market values.........you know.....price discovery etc.

But we are locked into full USSA (CCCP)............no end in sight?
Mike

[dcarrigg]

Re: Fed Normalization II

You know,............i keep on praying for a return to full free market values.........you know.....price discovery etc.

But we are locked into full USSA (CCCP)............no end in sight?
Mike

They invented the term "Free Market" in the 1920s to take peoples' minds off how bad they were being screwed in the gilded age and try to sell them the same bill of goods again. It didn't work and they got the 1930s instead.

But the seed was planted and the propaganda spread. The Golden Calf moved from Amsterdam in 1602 to the City of London and on to Old New York and now even onto Communist Shanghai.

The Cult of Mammon is now a worldwide religion.

So, Mike, I think that the way you described yourself as "praying" for a "return to full free market values" is perfect. It's the true new Pentecostal Revival.

And, behold, I come quickly; and my reward is with me, to give every man according as his work shall be.

[Mega]

Re: Fed Normalization II

[Mega]

Re: Fed Normalization II

[jk]

Re: Fed Normalization II

They invented the term "Free Market" in the 1920s to take peoples' minds off how bad they were being screwed in the gilded age and try to sell them the same bill of goods again. It didn't work and they got the 1930s instead.

But the seed was planted and the propaganda spread. The Golden Calf moved from Amsterdam in 1602 to the City of London and on to Old New York and now even onto Communist Shanghai.

The Cult of Mammon is now a worldwide religion.

So, Mike, I think that the way you described yourself as "praying" for a "return to full free market values" is perfect. It's the true new Pentecostal Revival.

one invisible hand for another. the big difference imo is whether there's any value put on community.

[dcarrigg]

Re: Fed Normalization II

one invisible hand for another. the big difference imo is whether there's any value put on community.

Nope.

1. I am The Market, thy God, thou shalt have no other gods before me
2. Thou shalt not put any purpose before profit
3. Thou shalt not take the name of The Market in vein, for there is but one Free Market, infallible and all-knowing
4. Remember you are a rational individual, always seeking to maximize utility
5. Honor property and wealth above all else
6. Thou shalt not murder, without a cost-benefit analysis
7. Adultery is fine, but why give it away when you could sell it?
8. Lying is fine, in fact, it's even rational so The Market expects it in many situations
9. Thou shalt not steal. (This one doesn't change).
10. Covet, covet, covet, buy, buy buy.