Jackson Hole
With age I am becoming lazier,so have not written a “piece” about Jackson Hole this year. But I thought I would just recycle last year’s piece, most of which is still relevant (its also nice to have 20+ years of stuff to fall back on in lazy times).. Just remember it was written a year ago. So in the meantime, Kris Koback lost. But Dotard is still tweeting angrily about interest rates 1 year later.
—————————-
So all the world’s top Central Bankers descend on Jackson Hole today.
Which Hole, you say? Yes, Jackson Hole is in the middle of nowhere, somewhere in the middle of Wyoming, which is a US state that some people have heard of, which still has 2 senators, which means that sometime soon both its remaining residents will also be senators, having as much power as the 40 million residents of California. It even makes Davos, that other “remote” pow-pow place, almost look like the centre of London. Wyoming of course voted for Dotard by a wide margin, something like Hillary 11 votes, Dotard 23 votes and 3 valuable electoral votes.
The Jackson Hole Economic Policy Symposium was started by the Kansas Fed in 1978, and like Davos, has grown in importance over the years. Kansas is another US state you may have heard of, made famous in the bestseller, What’s the Matter with Kansas? It is also the state where Kris Kobach, the voter fraud madman, is running for Governor. He has invented plenty of (black) voter suppression tactics over the years, but was still beaten this year by Georgia (bear with me, but that is another US state), who are trying to close down 7 voting places in black areas because the toilets are not compliant with rules for people with disabilities. That is when you say Democracy in the US is going down the toilet. Really makes one want to crxp.
But I digress. Jackson Hole is very important for Wall Street traders and bond markets, as the Fed gives its view on monetary policy for the coming year, as does the ECB, the Bank of England, the Japanese central bank, and other luminaries. There are debate sessions where academics and media folk and govt folk have polite arguments with the central bankers. As central banks are supposed to be independent, normally political leaders are not invited. So Dotard has been complaining for days and tweeting what he thinks interest rates should do. He cannot be invited, for as I said above, the debates are polite. And the debaters speak in well thought out full sentences.
Central bankers are economists, but they also need a PhD in English, as their every word and nuance is scrutinized and interpreted and moves markets (I have written about this phenomenon earlier). They are also usually relatively reticent which is why Fed Chair Powell hasn’t said a word about Dotard’s rants. However, all of them this time will be furtively trying to weaken their currencies, so their speeches will be worth dissecting for these signals. Even Mario Draghi will speak in English, though Haruhiko Kuroda probably will not. But even Speeches in Japanese are analysed and parsed for every word, though some may be lost in translation.
Jackson Hole is also a good location from another point of view. As Wyoming has almost no public transport to speak of, protestors would have a tough time getting there, unless they know how to ride a buffalo. So if you want to protest against these globalized elites, you have to wait till Davos in January, and allow the efficient Swiss to deal with you.
I had been considering going to Jackson Hole, but not being proficient in buffalo riding, and lacking a Grocery ID to sustain myself, I decided to give it a miss this time. And who knows if the toilets there are up to standard?
So all the world’s top Central Bankers descend on Jackson Hole today.
Which Hole, you say? Yes, Jackson Hole is in the middle of nowhere, somewhere in the middle of Wyoming, which is a US state that some people have heard of, which still has 2 senators, which means that sometime soon both its remaining residents will also be senators, having as much power as the 40 million residents of California. It even makes Davos, that other “remote” pow-pow place, almost look like the centre of London. Wyoming of course voted for Dotard by a wide margin, something like Hillary 11 votes, Dotard 23 votes and 3 valuable electoral votes.
The Jackson Hole Economic Policy Symposium was started by the Kansas Fed in 1978, and like Davos, has grown in importance over the years. Kansas is another US state you may have heard of, made famous in the bestseller, What’s the Matter with Kansas? It is also the state where Kris Kobach, the voter fraud madman, is running for Governor. He has invented plenty of (black) voter suppression tactics over the years, but was still beaten this year by Georgia (bear with me, but that is another US state), who are trying to close down 7 voting places in black areas because the toilets are not compliant with rules for people with disabilities. That is when you say Democracy in the US is going down the toilet. Really makes one want to crxp.
But I digress. Jackson Hole is very important for Wall Street traders and bond markets, as the Fed gives its view on monetary policy for the coming year, as does the ECB, the Bank of England, the Japanese central bank, and other luminaries. There are debate sessions where academics and media folk and govt folk have polite arguments with the central bankers. As central banks are supposed to be independent, normally political leaders are not invited. So Dotard has been complaining for days and tweeting what he thinks interest rates should do. He cannot be invited, for as I said above, the debates are polite. And the debaters speak in well thought out full sentences.
Central bankers are economists, but they also need a PhD in English, as their every word and nuance is scrutinized and interpreted and moves markets (I have written about this phenomenon earlier). They are also usually relatively reticent which is why Fed Chair Powell hasn’t said a word about Dotard’s rants. However, all of them this time will be furtively trying to weaken their currencies, so their speeches will be worth dissecting for these signals. Even Mario Draghi will speak in English, though Haruhiko Kuroda probably will not. But even Speeches in Japanese are analysed and parsed for every word, though some may be lost in translation.
Jackson Hole is also a good location from another point of view. As Wyoming has almost no public transport to speak of, protestors would have a tough time getting there, unless they know how to ride a buffalo. So if you want to protest against these globalized elites, you have to wait till Davos in January, and allow the efficient Swiss to deal with you.
I had been considering going to Jackson Hole, but not being proficient in buffalo riding, and lacking a Grocery ID to sustain myself, I decided to give it a miss this time. And who knows if the toilets there are up to standard?
Comments
Post a Comment