One Bad Day, Someday

18 Sep

I just read the most understated/truth- telling/awesome quote ever. The quote was from an employee of Tyson Foods when describing the ethical treatment of the animals under their control prior to their eventual conversion into product. The director stated” We want to try and assure that the animal only has one bad day under our care”. One Bad Day… I just love that.Putting aside the karmic repercussions, providing that every animal is fat, happy and delusional until the day of reckoning is probably something to be lauded. This got me thinking  however about some of the recent comments by former Fed Chairwoman Janet Yellen who commented on the fact that Fed policy should take into account the duration of the downturn, even as the economy is starting to turn up, in other words lower for much, much longer than anyone would consider prudent. This type of “radical” thinking fits perfectly with the recent embrace of some economic theory  which further repudiates the negative effects of deficits on the real economy. You know the polemic: “Deficits don’t matter because we own the printing press”, however this new school of thought (promoted by a Bernie Sanders campaign consultant: Shocker) believes that deficits are really just government spending, and that the focus of that government spend is what determines the growth arc. Lower rates for eternity and unchecked government spending, all in the service of ensuring that the U. S. Economy only has one bad day.

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