{"id":543,"date":"2008-10-22T10:28:26","date_gmt":"2008-10-22T10:28:26","guid":{"rendered":"http:\/\/astraea.net\/blog\/?p=543"},"modified":"2008-10-22T10:28:26","modified_gmt":"2008-10-22T10:28:26","slug":"come-clean-and-admit-it-theres-a-recession","status":"publish","type":"post","link":"https:\/\/www.astraea.net\/blog\/come-clean-and-admit-it-theres-a-recession\/","title":{"rendered":"Come clean and admit it &#8211; there&#8217;s a recession."},"content":{"rendered":"<p>Why don&#8217;t the reulators, policy makers, players and pundits just admit there&#8217;s a problem. I find it extraordinary that <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/7680453.stm\">Bernanke and co won&#8217;t admit there&#8217;s a recession<\/a>.\u00a0 If they think that they can talk their way out of this downturn, how we can we believe that they will be able to re-engineer the financial system so that this does not happen again.\u00a0 The root cause of this meltdown has been <a href=\"http:\/\/astraea.net\/blog\/?s=moral+hazard\">moral hazard<\/a> and here they are again destroying their integrity and credibility.<\/p>\n<p>And the failure to face the facts is merely <a href=\"http:\/\/news.bbc.co.uk\/2\/hi\/business\/7683495.stm\">prolonging the pain<\/a> and the ability to adjust.\u00a0 The markets will only hit bottom once the admission has happened &#8211; so get on with it!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why don&#8217;t the reulators, policy makers, players and pundits just admit there&#8217;s a problem. I find it extraordinary that Bernanke and co won&#8217;t admit there&#8217;s a recession.\u00a0 If they think that they can talk their way out of this downturn, how we can we believe that they will be able to re-engineer the financial system &hellip;<br \/><a href=\"https:\/\/www.astraea.net\/blog\/come-clean-and-admit-it-theres-a-recession\/\" class=\"more-link pen_button pen_element_default pen_icon_arrow_double\">Continue reading <span class=\"screen-reader-text\">Come clean and admit it &#8211; there&#8217;s a recession.<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[24],"tags":[],"class_list":["post-543","post","type-post","status-publish","format-standard","hentry","category-markets"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4hwcd-8L","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/comments?post=543"}],"version-history":[{"count":0,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/posts\/543\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/media?parent=543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/categories?post=543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.astraea.net\/blog\/wp-json\/wp\/v2\/tags?post=543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}