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Disasters Can Happen

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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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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Earthquake Economics

United-States-Helpby MN Gordon

Economic Prism

“The United States of America, right now, has the strongest, most durable economy in the world,” said President Obama, in his State of the Union address, on Tuesday night.  What performance metrics he based his assertion on is unclear.  But we’ll give him the benefit of the doubt.

Maybe this is so…right now.  But it isn’t eternal.  For at grade, hidden in plain sight, a braid of positive and negative surface flowers indicate an economic strike-slip fault extends below.  What’s more, the economy’s foundation dangerously straddles across it.

Something must slip.  A massive vertical rupture is coming that will collapse everything within a wide-ranging (Read More....)

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Manna from Heaven

Hopeby MN Gordon

Economic Prism

Modern day monetary policy’s something we disparage around here at the Economic Prism. Relegating what price to set the key lending rate to a cadre of unelected technocrats is a contradiction of life in a free society. That’s how we see it, at least.

Make of it what you will. But we think willing lenders and borrowers can agree on a fair rate of interest on an individual basis much better than Janet Yellen and her fellows can dictate for all. For their part, the Fed’s made a great mess of their efforts to remake the world in their image.

When the stock market crashed on October 19, 1987, newly appointed Fed Chairman, Alan Greenspan took monetary policy in a new direction. He seized the day and planted (Read More....)

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The Fatal Dangers of a Fading Bull Market Run

The Fatal Dangers of a Fading Bull Market Runby MN Gordon

Economic Prism

It is too bad that mobile devices don’t set off a signal before their users do something terminally stupid. Perhaps a warning alarm would help them change course. Rather than texting and walking in front of a city bus, the preoccupied mobile user would be signaled to look up before stepping off the curb.

Instead, mobile devices offer an intoxicating distraction. They actually entice people to do things they’d otherwise know better than. Add the glory of capturing a public jaw dropper real-time and instantly posting it to YouTube or Instagram and the opportunities for stupidity are endless.

Social network users don’t stand a chance. Take poor David Mellado Lopez. The man thought he was using his mobile phone to film something astounding early Sunday morning.

He was, no doubt, marveling at his footage of a motionless bull lying on the ground just before something even more astounding happened. In hindsight it would’ve been better to have stayed in bed that morning. (Read More....)

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The End of the New Paradigm

Moneyby MN Gordon

Economic Prism

There is a pleasant mist in the air which conceals the depths of the disorder with earnest efficiency. Cavernous divergences exist between the financial economy and the real economy. Yet only the crankiest will speak of them.

The union in Europe was temporarily saved last Friday. Investors the world over cheered the relief. The DOW and S&P 500 closed out the week at record highs.

The big news was that the Greek bailout will be extended four more months. The fact that Greece will never pay back its creditors doesn’t matter for now. The clever program of extend and pretend has been preserved.

This is how things work in 2015. The world economy roles round and down with remarkable precision, borrowing (Read More....)

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Here Comes the Flood

Economic Collapse Picture Credit Pixabayby MN Gordon

Economic Prism

The United States’ economy is flying high. In fact, when compared to Japan and Europe, the state of the union is strong and prosperous. What’s more, it’s only getting better.

The unemployment rate continues its slow soft slide downward. It was at just 5.8 percent the last we checked. Meanwhile, consumer prices are rising at a benign 1.7 percent. At the same time, annual GDP is increasing at a healthy 3.5 percent clip. On top of that, the stock market continues to make everyone rich.

There are occasional moments of idyllic perfection where one must pinch themselves to know if they are really happening. These are the green flash instances…like when Teddy Kennedy up and died. Out of nowhere the stars align and the good spirits reign.

Sometimes these moments are (Read More....)

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