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Disasters Can Happen

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

When Trumponomics Meets Abenomics

When Trumponomics Meets Abenomics

by MN Gordon

Economic Prism

Thirty Year Retread

What will President Trump and Japanese Prime Minister Shinzo Abe talk about when they meet later today?  Will they gab about what fishing holes the big belly bass are biting at?  Will they share insider secrets on what watering holes are serving up the stiffest drinks?

Indeed, these topics are unlikely.  Rather, what they’ll be discussing is cooperative trade, growth, and employment policies between their respective national economies.  They’ll also talk about currency debasement opportunities.

Soon enough, perhaps by the time you read this, (Read More....)

. . . → Read More: When Trumponomics Meets Abenomics

Don’t Blame Trump When the World Ends- MN Gordon

by MN Gordon

Economic Prism

Alien Economics

There was, indeed, a time when clear thinking and lucid communication via the written word were held in high regard.  As far as we can tell, this wonderful epoch concluded in 1936.  Everything since has been tortured with varying degrees of gobbledygook.

The fall from grace was triggered by the 1936 publication of John Maynard Keynes’ The General Theory of Employment, Interest and Money.  The book is rigorously indecipherable.  What’s more, it has the ill-effect of making those who read it dumber.

Nonetheless, politicians and establishment economists remain enamored with Keynes’ gibberish.  For it offers academic rationale for governments to do what they love to do most – borrow money and spend it on inane programs.  In particular, Keynes advocated filling bottles with money and burying them in coalmines (Read More....)

. . . → Read More: Don’t Blame Trump When the World Ends- MN Gordon

Rekindling the Dollar Debasement Strategy-MN Gordon

Adventures in Currency Debasement

by MN Gordon

Economic Prism

Rekindling the Dollar Debasement Strategy

The U.S. dollar, as measured by the dollar index, has generally gone up since mid-2014.  The dollar index goes up when the U.S. dollar gains strength (value) against a basket of currencies, including the euro, yen, pound, and several others.  Conversely, the dollar index goes down when the U.S. dollar loses value.

Between July 30, 2014 and December 28, 2016, the dollar’s value, as measured by the dollar index, increased from 79.78 to 103.30 – or 29 (Read More....)

. . . → Read More: Rekindling the Dollar Debasement Strategy-MN Gordon

The Great El Monte Public Pension Swindle

El Monte Strike

by MN Gordon

Economic Prism

Nowhere City California

There are places in Southern California where, although the sun always shines, they haven’t seen a ray of light for over 50-years.  There’s a no man’s land of urban blight along Interstate 10, from East Los Angeles through the San Gabriel Valley, where cities you’ve never heard of and would never go to, are jumbled together like shipping containers on Terminal Island.  El Monte, California, is one of those places.

How El Monte came to be is a story shared with many of its adjoining San Gabriel Valley cities.  Boom, bust, and rapid transformation from an agricultural area to working class artery of a burgeoning megalopolis, vomited out a multitude of enduring mistakes.  Many of them will never be rectified.

When El Monte was incorporated as a municipality in (Read More....)

. . . → Read More: The Great El Monte Public Pension Swindle

Trump’s Plan to Close the Trade Deficit with China

chinaBy MN Gordon

Economic Prism

Rags to Riches

Jack Ma is an amiable fellow.  Back in 1994, while visiting the United States he decided to give that newfangled internet thing a whirl.  At a moment of peak inspiration, he executed his first search engine request by typing in the word (Read More....)

. . . → Read More: Trump’s Plan to Close the Trade Deficit with China

Global Recession Signs You Need To Watch For and Other Visions for 2017

Global Recession and Other Visions for 2017

by MN Gordon

Economic Prism

Conjuring Up Visions

Today’s a day for considering new hopes, new dreams, and new hallucinations.  The New Year is here, after all.  Now is the time to turn over a new leaf and start afresh.

Naturally, 2017 will be the year you get exactly what’s coming to you.  Both good and bad.  But what else will happen?

Here we begin by closing our eyes and slowing our breath.  We let our mind role back into the grey matter of our brain.  We wait patiently for new neurological connections to open up.  Then, ever so subtly, visions of the year ahead come into focus.

Will stocks go up or down?  What about gold and Treasury bonds?  Will the economy expand or contract?  Are we fated for World War III?  Who will win the Super Bowl?

These are the questions (Read More....)

. . . → Read More: Global Recession Signs You Need To Watch For and Other Visions for 2017

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