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Disasters Can Happen

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

Critical Thinking Will Become A Thing Of The Past

textingby MN Gordon

Economic Prism

Too Smart to Think

These days everything must be smart.  There are smart cities, smart grids, smart policies, smart TVs, smart cars, smartphones, smart watches, smart shoes, and smart glasses.  There’s even something called smart underwear.

Before long everything around us will be so smart we’ll no longer have to do one critically important thing.  We’ll no longer have to think; smart algorithms will think for us.  What’s more, the possibilities for not thinking are seemingly limitless.

Just (Read More....)

. . . → Read More: Critical Thinking Will Become A Thing Of The Past

Putting an End to the Regulatory Industry

by MN Gordon

Economic Prism

Gross Regulatory Overburden

Corporate life in America these days is fraught with tedium.  First the MBAs imposed their silly six sigma processes and reduced workers to mere widgets.  Then the regulators went through and squashed out any fun that remained.

Gone are the days when shrewd eccentrics could get rich using technobabble to hawk the Turbo Encabulator.  Alas, there are rules and regulations stymieing all creativity.  In fact, as a matter of law, such restrictions are shoved in the worker’s face each morning as they fill up their morning cup of coffee.

By our rough (Read More....)

. . . → Read More: Putting an End to the Regulatory Industry

The Cure is Worse than the Disease

2016by MN Gordon

Economic Prism

Today we look back to the recent past with singleness of purpose.  Context and edification for the present economy is what we’re after.  We have questions…

How come the recovery has been so weak?  Why is it that, nearly seven years after the official end of the Great Recession, the economy’s still mired in a soft muddy quag?  Squinting, focusing, and refocusing, there’s one particular week that rises above all others.

On Saturday September 20, 2008, Treasury Secretary Hank Paulson delivered a draft of the Troubled Asset Relief Program (TARP) to Congress for review.  If you recall, it had been another wild week.  On Monday, September 15, after 158 years of operation, Lehman Brothers vanished from the face of the earth…Dick Fuld, “The Gorilla,” be damned.

All week the sky relentlessly fell on financial markets.  (Read More....)

. . . → Read More: The Cure is Worse than the Disease

China’s $6.6 Trillion Toxic Loan Problem

Chinaby MN Gordon

Economic Prism

Rotting Vegetables

“As long as you’re green, you’re growing.  As soon as you’re ripe, you start to rot,” once remarked Ray Kroc, mastermind of the McDonald’s franchise empire.

At the moment, no truer words can be spoken for China’s ripe economy.  The Middle Kingdom’s 30-year economic boom is being overcome with the unpleasant odor that befalls rotting vegetables.  What’s more, there’s no way to reverse it.

The state of economic activity in China is stalling out.  All of the sudden, the mistakes that were hidden by a growing economy are surfacing en masse.  Excess capacity is turning up in all corners of the economy and no one knows what to do about (Read More....)

. . . → Read More: China’s $6.6 Trillion Toxic Loan Problem

The Next Frauds to Come Down the Turnpike

Fraudby MN Gordon

Economic Prism

The general suspicion that something just ain’t right with the economy has become an obvious reality.  Hope and optimism that somehow things will muddle along, or improve, are fading.  You can see it, feel it, and even smell it.

For example, several new data points were revealed Friday.  Each offered further confirmation that the economy’s not progressing.  Rather, it’s regressing.

According to the Bureau of Labor Statistics, producer prices dropped 0.4 percent last month and 1.6 percent on an annualized basis.  Naturally, wholesale prices go down when the dollar goes up.  They also go down when there’s weakening demand.

One would think that a strong dollar would encourage greater demand in (Read More....)

. . . → Read More: The Next Frauds to Come Down the Turnpike

Before the Devil Knows You’re Dead

Californiaby MN Gordon

Economic Prism

Something rather strange is going on.  Ten year Treasury yields and gold are simultaneously envisaging inflation and deflation.  Yields on the ten year Treasury note have jumped from 1.98 percent to 2.34 percent during the last 30 days.  Gold’s price, on the other hand, has dropped about $100 an ounce during this same time.

Who’s right…Treasury yields or gold?  Will there be inflation or deflation?

These were the questions that faded from our thoughts as we traversed east along the 60 freeway from Los Angeles to Oak Glen last Saturday.  The answers seemed to matter less and less the further the urban sprawl receded behind us.

Oak Glen, located just past the outer limits of Southern California’s sea of concrete, is a world apart.  The air is clean and crisp at its mile high elevation.  The locals are relaxed and amiable…not frenetic and mad.

There are no stoplights or franchise drive-thrus.  Billboards and transmission lines do not blight the landscape.  These, and other aesthetic eye lacerations, end (Read More....)

. . . → Read More: Before the Devil Knows You’re Dead

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