{"id":350330,"date":"2018-03-01T11:37:08","date_gmt":"2018-03-01T10:37:08","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/the-biggest-threat-to-your-financial-wellbeing\/"},"modified":"2018-03-01T11:37:08","modified_gmt":"2018-03-01T10:37:08","slug":"the-biggest-threat-to-your-financial-wellbeing","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/the-biggest-threat-to-your-financial-wellbeing\/","title":{"rendered":"The Biggest Threat to Your Financial Wellbeing"},"content":{"rendered":"<div>\n\t\t\t\t\t\t\t                            \t<!-- S3 Cache --><!-- S3:S3:Non-Original -->\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>You may recall the international spectacle Alan Greenspan sparked in 1996.<\/p>\n<p>In an otherwise dull and forgettable speech, Greenspan, the Federal Reserve chairman at the time, said the now famous phrase \u201cirrational exuberance.\u201d<\/p>\n<p>Investors thought Greenspan meant the Fed was about to raise interest rates.<\/p>\n<p>Of course, Greenspan didn\u2019t say the Fed would raise rates. Nor did he intend to signal that.<\/p>\n<p>Nonetheless, investors quickly panicked.<\/p>\n<p>US markets were closed at the time, but stocks in Japan and Hong Kong dropped 3%. The German stock market fell 4%. When trading started in the US the next day, the market opened down 2%.<\/p>\n<p><strong>Billions of dollars of wealth vanished in 16 hours\u2026 all because one man said two words.<\/strong><\/p>\n<p>That\u2019s an absurd amount of power for one person to have.<\/p>\n<p>It\u2019s also a shameful testament about the economy. It\u2019s based more on the Fed\u2019s shenanigans than actual production.<\/p>\n<p>After the US president, the Fed chair is the most powerful person on the planet.<\/p>\n<p>By simply saying the right words, the Fed can create or destroy trillions of dollars of wealth in both the US and abroad.<\/p>\n<p><strong>We\u2019re in Uncharted Territory<\/strong><\/p>\n<p>Throughout the 1920s, the Federal Reserve\u2019s easy money policies helped create an enormous stock market bubble.<\/p>\n<p>In August 1929, the Fed raised interest rates and effectively ended the easy credit.<\/p>\n<p>Only a few months later, the bubble burst on Black Tuesday. The Dow lost over 12% that day. It was the most devastating stock market crash in the US up to that point. It also signaled the beginning of the Great Depression.<\/p>\n<p>Fast forward to today\u2026<\/p>\n<p>The economy has been on life support since the 2008 financial crisis. The Fed has pumped it up with unprecedented amounts of \u201cstimulus.\u201d This has created enormous distortions and&#8230;<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.lewrockwell.com\/2018\/03\/nick-giambruno\/the-biggest-threat-to-your-financial-wellbeing\/\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You may recall the international spectacle Alan Greenspan sparked in 1996. In an otherwise dull and forgettable speech, Greenspan, the Federal Reserve chairman at the time, said the now famous phrase \u201cirrational exuberance.\u201d Investors thought Greenspan meant the Fed was about to raise interest rates. Of course, Greenspan didn\u2019t say the Fed would raise rates. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-350330","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/350330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=350330"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/350330\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=350330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=350330"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=350330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}