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Disasters Can Happen

How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

by MN Gordon

Economic Prism

Bernanke Redux

Somehow, former Federal Reserve Chairman Ben Bernanke found time from his busy hedge fund advisory duties last week to tell his ex-employer how to do its job.  Namely, he recommended to his former cohorts at the Fed how much they should reduce the Fed’s balance sheet by.  In other words, he told them how to go about cleaning up his mess.

We couldn’t recall the last time we’d seen or heard from Bernanke.  But soon it all came back to us.  There he was, in the flesh, babbling on (Read More....)

. . . → Read More: How to Stick It to Your Banker, the Federal Reserve, and the Whole Doggone Fiat Money System

The Coming Debt Reckoning- MN Gordon

by MN Gordon

Economic Prism

Licking the Log

American workers, as a whole, are facing a disagreeable disorder.  Their debt burdens are increasing.  Their incomes are stagnating.

There are many reasons why.  In truth, it would take several large volumes to chronicle all of them.  But when you get down to the ‘lick log’ of it all, the disorder stems from decades of technocratic intervention that have stripped away any semblance of a free functioning, self-correcting economy.

The financial system circa 2017, and the economy that supports it, has been stretched to the breaking point.  Shortsighted (Read More....)

. . . → Read More: The Coming Debt Reckoning- MN Gordon

How One Man’s Dire Observations Of Socialism Are Ringing True For America

Ludwig von Mises’s Century of Validation

by MN Gordon

Economic Prism

Seeing the Light

It has been said that “the definition of insanity is doing the same thing over and over again and expecting different results.”  No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and even an Ancient Chinese Proverb.  What is known is that this cliché has been repeated over and over again so often that its mere mention substantiates its own definition.

Nonetheless, we repeat it again because it’s particularly fitting to today’s contemplations.  Here we begin with a look back to the past in search of edification.  For the miscalculations of the past continue to dictate the insanity of the present.

Many years ago, for example, a bright minded and well intentioned (Read More....)

. . . → Read More: How One Man’s Dire Observations Of Socialism Are Ringing True For America

Main Street Depositors And Lenders Continue To Get A Raw Deal

Simple Math of Bank Horsepucky

by MN Gordon

Economic Prism

The Raw Deal

We stepped out on our front stoop Wednesday morning and paused to take it all in.

The sky was at its darkest hour just before dawn.  The air was crisp.  There was a soft coastal fog.  The faint light of several stars that likely burned out millennia ago danced just above the glow of the street lights.

After a brief moment, we locked the door behind us and got into our car.  Springtime southern California mornings are exquisitely pleasant.  The early morning drive to downtown Los Angeles, on the other hand, is exquisitely painful.

Nonetheless, we make the best of it like we make the best of a trip to the dentist – or a visit with our accountant.  If anything, it affords us the opportunity to do something most people rarely do.  In particular, it gives (Read More....)

. . . → Read More: Main Street Depositors And Lenders Continue To Get A Raw Deal

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?

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