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Disasters Can Happen

Yellen’s Healthy Economy Is Absurd- Here Is Why

Hell To Pay

by MN Gordon

Economic Prism

Behind the Curve

Economic nonsense comes a dime a dozen.  For example, Federal Reserve Chair Janet Yellen “think(s) we have a healthy economy now.”  She even told the University of Michigan’s Ford (Read More....)

. . . → Read More: Yellen’s Healthy Economy Is Absurd- Here Is Why

Warning! Credit Markets Are Now Signaling A Breakdown -What Does That Mean For Business In America?

Credit Contraction Episodes

by MN Gordon

Economic Prism

Signaling a Breakdown

Taking the path of least resistance doesn’t always lead to places worth going.  In fact, it often leads to places that are better to avoid.  Repeatedly skipping work to sleep in and living off credit cards will eventually lead to the poorhouse.

The same holds true for monetary policy.  In particular, cheap credit policies that favor short-term expediency have the effect of layering society up with an abundance of long-term mistakes.  Artificially suppressed interest rates via central bank asset purchase schemes are not without consequences.

What’s more, once set in motion these consequences don’t stop until they’ve fully run their course.  The booms of plentiful credit must always be followed by the busts of unserviceable debt.  As more and (Read More....)

. . . → Read More: Warning! Credit Markets Are Now Signaling A Breakdown -What Does That Mean For Business In America?

Everyone Believes It Is Impossible For The U.S. Gvt To Default On Its Debt – But Is It Possible It Could Happen?

March to Default

by MN Gordon

Economic Prism

Style Over Substance

“May you live in interesting times,” says the ancient Chinese curse.  No doubt about it, we live in interesting times.  Hardly a day goes by that we’re not aghast and astounded by a series of grotesque caricatures of the world as at devolves towards vulgarity.

Just this week, for instance, U.S. Representative Maxine Waters (Read More....)

. . . → Read More: Everyone Believes It Is Impossible For The U.S. Gvt To Default On Its Debt – But Is It Possible It Could Happen?

The Debt Ceiling Expired- What Is The Government’s Solution To Jumpstarting The Economy Now?

The Long Run Economics of Debt Based Stimulus

by MN Gordon

Economic Prism

Onward vs. Upward

Something both unwanted and unexpected has tormented western economies in the 21st century.  Gross domestic product (GDP) has moderated onward while government debt has spiked upward.  Orthodox economists continue to be flummoxed by what has transpired.

Here is the United States, since the turn of the new millennium (starting January 1, 2001) real GDP has increased from roughly $10.5 trillion to $18.6 trillion, or 77 percent.  Over this same time government debt has spiked nearly 250 percent from about (Read More....)

. . . → Read More: The Debt Ceiling Expired- What Is The Government’s Solution To Jumpstarting The Economy Now?

A 30 Year Mess in the Making- Donald Trump’s Challenge

by MN Gordon

Economic Prism

“We have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.” Gary Cohn, Chief Economic Advisor to President Trump

Promises of Slop

The art and science of spending other people’s money is not an occupation suited to just anyone.  Rather, it’s a skill reserved for the professional world-improver.  To be successful, one must act with a zealous devotion to uplifting the down and out, no matter the cost.

Lawyers, bankers, economists, and government philosophers with fancy resumes, whom attended fancy schools.  These are the devoted fellows who comprise President Trump’s (Read More....)

. . . → Read More: A 30 Year Mess in the Making- Donald Trump’s Challenge

The Dow Speaks: “In Trump We Trust”

The Dow Speaks: “In Trump We Trust”

by MN Gordon

Economic Prism

The Worst Job in the World

The rewards of being the President, these days, are few and far between.  Just ask President Trump.  The work hours are terrible, the pay is far less than that of a corporate CEO, and you’re endlessly surrounded by shabby politicians.

What’s more, the hand towels aboard Air Force One have the shoddy over washed roughness of those at a turnpike Motel 6.  But that’s not the worst of (Read More....)

. . . → Read More: The Dow Speaks: “In Trump We Trust”

The Art and Pseudoscience of Monetary Policy

by MN Gordon

Economic Prism

Definitely Maybe

Everyone’s got a plan for sale these days.  In fact, there are so many plans out there we cannot keep up with them all.  Eat celery sticks and lose weight.  Think and grow rich.  Stocks for the long run.  Naturally, plans like these run a dime a dozen.

Good plans, however, are scarcer than hen’s teeth.  You can’t possibly see them no matter how closely you look.  They simply don’t exist.

This was the case on Capitol Hill this week, where money and politics collided at the biannual monetary policy gala.  Despite all the hubbub, no good plans were offered.  What’s more, on first glance, no bad plans were offered too.

When Fed Chair Janet Yellen’s testimony was finally over, Congress knew less about the Fed’s plans than when it started.  For instance, when asked if the (Read More....)

. . . → Read More: The Art and Pseudoscience of Monetary Policy

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