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Disasters Can Happen

Is Fed Chair Nominee Jay Powell, Count Dracula?

by MN Gordon

Economic Prism

A Date with Dracula

The gray hue of dawn quickly slipped to a bright clear sky as we set out last Saturday morning.  The season’s autumn tinge abounded around us as the distant mountain peaks, and their mighty rifts, grew closer.  The nighttime chill stubbornly lingered in the crisp air.

Like Jonathan Harker’s journey to Transylvania roughly 120 years ago, we also traveled eastward.  Our route, however, did not take as through Vienna and Budapest.  Nor did it take us upward into the Carpathian Mountains.

Instead, we traversed along the foothills of the San Gabriel Mountains, passing from the Angeles National Forest to the San Bernardino National Forest.  Then (Read More....)

. . . → Read More: Is Fed Chair Nominee Jay Powell, Count Dracula?

The Downright Sinister Rearrangement of Riches

By MN Gordon

Economic Prism

Simple Classifications

Let’s begin with facts.  Cold hard unadorned facts.

Water boils at 212 degrees Fahrenheit at standard atmospheric pressure.  Squaring the circle using a compass and straightedge is impossible.  The sun is a star.

Facts, of course, must not be confused with opinions, which are based upon observations.  Barack Obama throws like a girl.  The Federal Register is for idiots.  Two slices of chocolate cake are one too many.  Are these opinions right or wrong?

The answer depends on who you (Read More....)

. . . → Read More: The Downright Sinister Rearrangement of Riches

Tales from a Late Stage Bull Market

by MN Gordon

Economic Prism

Pro-Growth Occurrences

An endearing quality of a late stage bull market is that it expands the universe of what’s possible.  Somehow, rising stock prices make the impossible, possible.  They also push the limits of the normal into the paranormal.

Last week, for instance, there was a Bigfoot sighting near Avocado Lake in Fresno County, California.  But it wasn’t just one Bigfoot.  According to a local farmer, there was a family of five or six Bigfoot running across his ranch in the middle of the night.  Paranormal expert Jeffery Gonzalez offered the following Bigfoot sighting (Read More....)

. . . → Read More: Tales from a Late Stage Bull Market

How to Survive the Winter

by MN Gordon

Economic Prism

A Flawless Flock of Scoundrels

One of the fringe benefits of living in a country that’s in dire need of a political, financial, and cultural reset, is the twisted amusement that comes with bearing witness to its unraveling.  Day by day we’re greeted with escalating madness.  Indeed, the great fiasco must be taken lightly, so as not to be demoralized by its enormity.

Of particular note is the present cast of characters.  Could Bill Shakespeare himself have come up with a more flawless flock of scoundrels to take the plotless narrative from comedy to tragedy?

There’s President Trump, Hillary Clinton, Paul Ryan, Mitch McConnell, Maxine Waters, Chuck Schumer, Nancy Pelosi, Robert Mueller, the Podesta Brothers, all of Congress; the list of political actors goes on and on.  Moreover, it wouldn’t be complete if we (Read More....)

. . . → Read More: How to Survive the Winter

The Donald Can’t Stop It

by MN Gordon

Economic Prism

Divine Powers

The Dow’s march onward and upward toward 30,000 continues without reservation.  New record all-time highs are notched practically every day.  Despite yesterday’s 31-point pullback, the Dow’s up over 15.5 percent year-to-date.  What a remarkable time to be alive.

The President, Donald Trump, is pumped!  As Commander in Chief, he believes he possesses divine powers.  He can will the stock market higher – and he knows it.  For example, early Wednesday morning he blasted out the following (Read More....)

. . . → Read More: The Donald Can’t Stop It

Federal Reserve President Kashkari’s Masterful Distractions

by MN Gordon

Economic Prism

The True Believer

How is it that seemingly intelligent people, of apparent sound mind and rational thought, can stray so far off the beam?  How come there are certain professions that reward their practitioners for their failures?

The central banking and monetary policy vocation rings the bell on both accounts.  Today we offer a brief case study in this regard.

Minneapolis Federal Reserve President Neel Kashkari is a man with strong convictions.  He’s what the late Eric Hoffer would’ve classified as “the true believer.”  According to Hoffer:

“It is the true believer’s ability to ‘shut his eyes and stop his ears’ to facts that do not deserve to be either seen or heard which is the source of his unequaled fortitude and constancy.  He cannot be frightened by danger nor disheartened by obstacle nor baffled (Read More....)

. . . → Read More: Federal Reserve President Kashkari’s Masterful Distractions

Why The US Federal Debt Isn’t Sexy Enough To Carry Interest With The Voter, And The Politicians Know It

by MN Gordon

Economic Prism

Best Case Scenario

“No one really cares about the U.S. federal debt,” remarked a colleague and Economic Prism reader earlier in the week.  “You keep writing about it as if anyone gives a lick.”

We could tell he was just warming up.  So, we settled back into our chair and made ourselves comfortable.

“The voters certainly don’t care about the federal debt,” he continued.  “They keep electing the same spendthrifts to office.

“And the politicians know the voters don’t care.  They also know that making more and more promises is the formula for getting reelected.

“Deep down, the aging masses know they need massive amounts of government debt to pay their social security, medicare, and disability checks.  On top of that, many of the so-called gainfully employed are really on corporate (Read More....)

. . . → Read More: Why The US Federal Debt Isn’t Sexy Enough To Carry Interest With The Voter, And The Politicians Know It

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