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Disasters Can Happen

The Three Headed Debt Monster That’s Going to Rampage the Economy

The Three Headed Debt Monster That’s Going to Rampage the Economy

by MN Gordon

Economic Prism

“The bank is something more than men, I tell you.  It’s the monster.  Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath

Mass Infusions of New Credit

Something strange and somewhat senseless happened this week.  On Tuesday, the price of gold jumped over $13 per ounce.  This, in itself, is nothing too remarkable.  However, at precisely the same time gold was jumping, the yield on the 10-Year Treasury note was slip sliding down to 2.15 percent.

In short, investors were simultaneously anticipating inflation and deflation.  Naturally, this is a gross oversimplification.  But it does make the point that something peculiar is going on with these markets.

Clear thinking and simple logic won’t make (Read More....)

. . . → Read More: The Three Headed Debt Monster That’s Going to Rampage the Economy

Monetary Madness and Rabbit Consumption

Picture Credit Flickr

Monetary Madness and Rabbit Consumption

by MN Gordon

Economic Prism

Down the Rabbit Hole

“The hurrier I go, the behinder I get,” is oft attributed to the White Rabbit from Lewis Carroll’s, Alice in Wonderland.  Where this axiom appears within the text of the story is a mystery.  But we suspect the White Rabbit must utter it about the time Alice follows him down the rabbit hole.

No doubt, today’s wage earner knows what it means to work harder, faster, and better, while slip sliding behind.  However, for many wage earners (Read More....)

. . . → Read More: Monetary Madness and Rabbit Consumption

Recession Watch Fall 2017

by MN Gordon

Economic Prism

One Ear to the Ground, One Eye to the Future

Treasury yields are attempting to say something.  But what it is exactly is open to interpretation.  What’s more, only the most curious care to ponder it.

Like Southern California’s obligatory June Gloom, what Treasury yields may appear to be foreshadowing can be somewhat misleading.  Are investors anticipating deflation or inflation?  Are yields adjusting to some other market or external phenomenon, perhaps central bank intervention?

So far this year, and in the face of the much-ballyhooed prospect of Trumpflation, the yield on the 10-Year note has gone down.  Not up.  On January 1st, the 10-Year note yielded 2.44 percent.  As of market close Thursday, the yield was 2.22 percent.

At first (Read More....)

. . . → Read More: Recession Watch Fall 2017

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

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

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