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Disasters Can Happen

The Chinese Fiasco

Chinese Policeby MN Gordon

Economic Prism

The twilight receded into the vista of the glowing port lights.  Docked container ships melded into the profusion of overhead cranes.  Sporadic refinery flares overtook the final sparkles of dusk.

The sun slipped beyond the far side of the Palos Verdes cliffs.  We lit a giant bonfire and settled down to its tantalizing flames.  The kindling crackled and snapped.  Sparkling embers escaped in the light onshore breeze.

School’s back in session tomorrow.  But for the under 10-year old crowd we tent camped with last Saturday night at Cabrillo Beach Youth Center, sitting in a classroom was the furthest thing from their mind.  Whittling drift wood, tying bowline knots, and kayaking the breakwater were the tasks at hand.

Our vantage point from Cabrillo Beach in San Pedro, looking back at the Port of Los Angeles and over to the Port of Long Beach, was a sight for reflection.  At this outer peninsula tip the managed chaos of container ships, docks, cranes, semi-trucks and railcars intermingled in (Read More....)

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Dillweed Economics

Moneyby MN Gordon

Economic Prism

After more than a decade of studying, documenting and cautioning on the great fraud of our time we’re as shocked as we’ve ever been. In the year 2015, the entire essence of economic and financial management the world over has been reduced to a single policy…

Thou shalt degrade money and expand debt in perpetuity.

Here in the United States, as in Europe, Japan, China, and most everywhere else, this policy is carried out with earnest zeal. No limitations are holding back policy makers and politicians. Consequences have disappeared from practical prudence or consideration.

New credits are borrowed into existence by the Federal Reserve and spent by the Treasury. All the while the old debts are never (Read More....)

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Exactly When the Fed Will Raise Rates

Ben Bernanke,Fed’s balance sheet,economic implosion,Bernanke, Obama, Congress, recession,Marxism-Leninismby MN Gordon

Economic Prism

December has been a wild month so far. Markets have gone haywire. The DOW dropped 890 points before running back up 710. Oil prices have been slashed 26 percent to just $55 per barrel. Gold has gotten kicked in the chin.

But it could be much, much more erratic. Just ask Russian President Vladimir Putin. He’s got big problems. For instance, the Russian ruble has depreciated 50 percent this year against the dollar. What’s more, earlier this week, the Russian central bank had to jack its key interest rate up from 10.5 percent to 17 percent.

Could you imagine if the federal funds rate was at 17 percent? Nearly every asset bubble would pop overnight. Financial panic would follow and the economy would be flattened.

Certainly, economic prospects in the (Read More....)

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Economic Blasphemy

Liesby MN Gordon Economic Prism

Last week the Bureau of Economic Analysis made a revision. You may have heard about it. According to the government statisticians, first quarter GDP didn’t decline at an annual rate of 0.1 percent as previously estimated.

Actually, when they re-counted the beans, first quarter GDP declined much, much more. In fact, based on the new estimate, first quarter GDP declined at an annual rate of 1 percent. What does this mean?

In short, it means the economy isn’t expanding…it’s contracting. And because the economy’s supported by massive amounts of debt it doesn’t take much of a contraction for the debt foundations along the margins to begin to crumble. Student loan and auto loan (Read More....)

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The Next Big Crisis Moment You Can Bank On

Crisisby MN Gordon Economic Prism

Donald Rumsfeld has a way with words that is both simple and insightful. Obviously, not everyone’s valued his intelligence over the years. From what we gather, they called him Ronald Dumbsfeld when he worked for the Nixon administration.

This name calling never seemed to bother Rumsfeld one bit. “If you try and please everybody,” he once remarked, “somebody’s not going to like it.” Naturally, in a world full of frauds and cheats, this is the sort of keen acumen we appreciate.

We hadn’t heard much of Rumsfeld since he left public office. So we were pleasantly delighted when we happened across his annual letter to the Internal Revenue (Read More....)

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How to Be Richly Rewarded Following the Big Crash

Stock Market Crashby MN Gordon Economic Prism

Something utterly unforeseen and unexpected is taking place. Recent highfliers of Wall Street’s technology space are now dropping like flies. Can you believe it?

Take Facebook, for instance. On February 19th, the top social media service bought text messaging application, WhatsApp, for $19 billion. Shares of Facebook closed out that day at $68.06. We noted it as a possible signal of a market top…calling it the Mark Zuckerberg Indicator.

At first it appeared Facebook would continue its march onward and upward. But on March 10th, stock shares peaked at $72.03. Since then, they’ve dropped 21 percent…falling into the statistical bear market range.

However, Facebook’s not the only technology company whose stock is flaming out. Not by a long shot. Many others are slumping over like a half empty commercial grade flour sack.

For example, Tesla Motors, Twitter, and Netflix (Read More....)

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How to Achieve Honest Banking

Honest Banking Practicesby MN Gordon Economic Prism

Today we take pause from the markets to bring you a brief review of new research by economists at the New York Federal Reserve. On Tuesday, they published a special Economic Policy Review series. It includes 11 research papers, providing analysis of the big banks.

One of their key findings: The five largest banks, which include Bank of America and JPMorgan Chase, enjoy a “too-big-to-fail” advantage in financial markets. The study also found that large U.S. banks can borrow at about 0.31 percent less than smaller banks. Why is that?

The Fed’s research didn’t identify the exact reason. But, perhaps, the big banks can borrow more cheaply because investors know the U.S. government would bail them out in a financial crisis. While the Fed economists didn’t give this reason, they did note that the big banks can take bigger risks.

“The new research (Read More....)

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