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Recent Posts

Disasters Can Happen

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....)

. . . → Read More: The End of the New Paradigm

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....)

. . . → Read More: Here Comes the Flood

How to Kill a City Financially

How to Kill a City Financiallyby MN Gordon

Economic Prism

There are pleasant hamlets where the radiant warmth of sunshine smiles down and sprinkles daily blessings and abundance. There are other places where the sun no longer shines. Remnants of past jollies cast shadows of decay. Sources of prosperity have rusted over like an old tin garbage can.

Scranton, Pennsylvania, hitched its wagon to the wrong horse nearly a century ago. But it took nearly 50-years for this to become apparent. Sometimes the source of an economic boon is ultimately the cause of demise.

For Scranton, the blessing of an abundance of anthracite coal brought unhindered growth and prosperity to the city from the turn of the 20th century until about the end of World War II. By the mid-1930s, the city’s population had expanded to over 140,000. Nearly double today’s population.

But, alas for Scranton, the world is dynamic. It is ever changing. Too much of a good thing leads to over dependence. Or, as Hyman Minsky observed, stability leads to instability.

The rug was (Read More....)

. . . → Read More: How to Kill a City Financially

A Symbol of Death for Stocks

Make Moneyby MN Gordon Economic Prism

We’re spoiled for material. Each and every day we check the headlines with glee. Not only are we eager to see what’s happening…we’re eager to discover the latest canard.

For instance, last fall something called Balloon Dog sold at a Christie’s auction for $58.4 million. Balloon Dog, if you’ve never heard of it, is a stainless steel art project designed to look like a gigantic twisty balloon dog. How cool is that? And there’s meaning behind it too…

“I’ve always enjoyed balloon animals because their like us,” articulated artist and Balloon Dog creator (Read More....)

. . . → Read More: A Symbol of Death for Stocks

Wealth Building for Pigs

Money, Weath, Powerby MN Gordon Economic Prism

Today we close our eyes, tilt back our head, and breathe deeply. Not only do we breathe in oxygen…we breathe in something more: Perspective.

We’ve never gutted a hog around here. But, from what we gather, it’s a bloody mess. Nonetheless, starring at and contemplating a ham and egg breakfast plate we find a thorough lesson on commitment.

You may have heard of this little allegory before. When it comes to a ham and egg breakfast, the chicken’s involved in providing for the breakfast. It provides the eggs. But the pig’s fully committed to it. The pig must perish to provide the ham.

Naturally, this extended metaphor offers many rich insights. For most endeavors there are chickens who are involved and pigs who are fully committed. To a large extent, whether we like it or not, when it comes to schlepping and scratching for wealth, we must be pigs.

Just being involved won’t produce the desired results. Full commitment is requisite to overcome the many (Read More....)

. . . → Read More: Wealth Building for Pigs

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....)

. . . → Read More: The Next Big Crisis Moment You Can Bank On

Duct Tape Economics

Every Penny Countsby MN Gordon Economic Prism

The Labor Department laid a sulfurous egg last Friday. By their calculations, just 74,000 jobs were created in December. The pros thought it would be 200,000. What do they know?

This marks the slightest increase since January 2011. Somehow, even with the feeble increase in jobs, the unemployment rate fell 0.3 percent to 6.7 percent. This is the lowest it has been since October 2008, when the economy slipped.

To the casual observer things appear to be getting better. Certainly, on the surface, a 6.7 percent unemployment rate is an improvement. But a scratch below the surface reveals the (Read More....)

. . . → Read More: Duct Tape Economics

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