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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

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?

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”

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