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Disasters Can Happen

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....)

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The One Thing that Will Change Everything

by MN Gordon

Economic Prism

“There are more things in heaven and Earth, Horatio, than are dreamt of in your philosophy.” – William Shakespeare, Hamlet

Ticking Time Bomb

The American populace counts down to Election Day with impatient intent.  Will their party man occupy the White House come January 21, 2017?  Or will their party woman occupy a federal prison cell?

These are questions that only the good wisdom of time can answer.  Here at the Economic Prism we watch with indifferent curiosity.  We don’t think either candidate’s worthy of high office.  But we’re eager to know the election (Read More....)

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An Abundance of Idle Trucks

by MN Gordon

Economic Prism

An Abundance of Idle Trucks

The popular economic theme being reported by the popular press still remains.  That the economy is grinding higher.  That growth is improving, albeit slowly.  That blue skies are just over the horizon.

Naturally we have some misgivings.  As far as we can tell, business is not humming along.  Earnings are stagnant.  Profits are slim.  Moreover, corporate reductions in force (RIFs) are being executed with the imprecise targeting of a sledge hammer.  Even Google’s laying off staff.

Most notably, if the economy were (Read More....)

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Meet Your New Stimulus Allocation Czar

department_of_treasury_seal_2895964373by MN Gordon

Economic Prism

March Towards Midnight

The march towards (Read More....)

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Should we buy an extra bag of rice and an additional roll of toilet paper to stock in the pantry?

Emergency FoodYarns, Mysteries, and the CPI

by MN Gordon

Economic Prism

No CPI Change

Several ill-defined economic waypoints were unveiled this week.  Namely, the Labor Department’s July consumer price index report.  According to the government data, on (Read More....)

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No Free Lunches Be Damned

Americas-Freedomby MN Gordon

Economic Prism

“There ain’t no such thing as a free lunch,” is one of the essential axioms of economics.  No doubt about it, there’s no getting around this simple truth.  Everything has a price.

For example, even if someone buys you lunch the lunch still isn’t free.  The opportunity cost, your time to eat the lunch when you could’ve been doing something else, has a price.  In addition, even if you don’t consider your time a cost, there’s no denying the fact that someone paid for the lunch.  Hence, it wasn’t free.

Nonetheless, despite this simple fact, politicians promise free lunches for the many at the expense of the few.  This offense is especially on display during a presidential primary election.  (Read More....)

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Alan Greenspan’s Pickled Economy

Economyby MN Gordon

Economic Prism

Former Federal Reserve Chairman Alan Greenspan resurfaced this week.  We couldn’t recall the last time we’d heard from him.  But, alas, the old fellow’s in desolate despair.

On Tuesday, for instance, he told Bloomberg he hasn’t been optimistic for “quite a while.”  Obviously, this is in contrast to the perennial Goldilocks attitude he had during the 1990s.  So what is it that has the Maestro playing a low dirge?

China, the dollar, Dodd-Frank, and associated unknowns are all part of his negative outlook.  But the long winter of his discontent is something else.  Greenspan said he “won’t be [optimistic] until we can resolve entitlement programs.”

“Nobody wants to touch [entitlements].  But it is gradually crowding out capital investment and that is crowding out productivity and that is crowding out the standards of living,” said Greenspan.

Indeed, funding (Read More....)

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