Mission Creep

The Obama administration is at it again with news of their involvement in the development of a new “cow of the future”. Their involvement in this project is designed to target the emission of Methane gas, which as we learn, is more damaging to the environment than any other greenhouse gasses. We read about this ludicrous attempt at environmental micro-management at the same time both the Fed and the IMF are discussing their own designs on social engineering. Fed Chairman Yellen, speaking in Chicago, made great strides to discuss the plight of the unemployed and made sure to reiterate that the Fed would not alter its low interest rate policy until the level of unemployed was suitably addressed. The IMF was quick to agree, stating that its policies needed to address not only growth but also income inequality. While strapping tanks to the backs of cows (believe it or not this is being studied) may not seem to have anything to do with ZIRP, they both represent highly targeted responses to massive global problems. Much as strapping a tank to the back of a cow in North Central Iowa will do little to affect overall Greenhouse gas emissions, pushing down the spread of Junk Bonds over Treasuries to pre 2008 levels will also have little affect on the structural unemployment that currently exists across much of the U.S. labor market.

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