by MN Gordon
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
by MN Gordon
Goldman Sachs, Larry Summers, and the global financial alliance got their way last Thursday. Fed Chair Janet Yellen rolled over and slobbered on herself like a yellow Labrador…offering more ZIRP to please her masters. Savers, seniors, and freedom lovers the world over got sour lemons.
Here at the Economic Prism we always make lemonade when life gives us lemons. Moreover, when the glass is half empty we reach for a smaller glass. For it doesn’t take much to overflow a Dixie cup.
What we mean is Yellen did us all a grand favor. By continuing the insane policies of mass credit creation she’s accelerating the Federal Reserve’s ultimate demise. From our perspective, the sooner it’s over the better.
Some restraint by the Fed now would only extend the broken scheme out further into the future. Perhaps there’d be another 20 or 30 years more of this charade if the Fed were to pretend it was tightening down the cranks on the money supply. Why not get it over with now?
So if later is 20 or (Read More....)
. . . → Read More: Command and Control Economics
Guest Post Peter Wood
In this my last article I expand on subjects already touched on in previous articles and attempt to draw together the various strands of the socialist totalitarianism currently undermining Western democratic societies – liberation theology, ecology, eugenics, homosexuality, feminism and multiculturalism – all bound together by the tyrannical bonds of political correctness.
The Coming Totalitarian World Of The Power Elites And The Zombie Populations Which Make It Possible
From their places of honor in hell, Marx, Stalin and Mao Zedong must have been laughing, when on arrival in La Paz during his recent tour of South America, Pope Francis was presented with a wooden crucifix carved in the form of a hammer and sickle by Bolivian President Evo Morales. By having the cross formed into a hammer and sickle Morales was effectively replacing the Son of God as the savior of mankind with communism. One of the founders of liberation theology, Peruvian theologian Gustavo Gutierrez, praised the “new atmosphere” under the Italo-Argintine leader of (Read More....)
. . . → Read More: Before We Can Capture The West We Must Capture The Culture
December 27, 2014 (revised January 17, 2015)
The world economy is in the middle of a depression period that will last the rest of this decade and run perhaps well into the 2020s. This depression period and the others that the world has experienced since the late 1700s were due to an 80 year cycle of paradigm change in physics and technology development. Twenty-five years ago, this author developed an economic model concerning this relationship between physics paradigm changes and depressions and described the model and the evidence for it in a book titled: The Periodic Production of Rationalized Phenomena and the Past Periodic Depressions. In the early 1990s, I then predicted, based on the model, that there would be a 10 year economic boom starting about the year 2000 in the countries that led in the development of Quantum Mechanics-based technology followed by a financial crisis around 2009 and a long depression period perhaps lasting 12 years. The prediction proved (Read More....)
. . . → Read More: The 25 Year-Old Economic Depression Model and Predictions
by MN Gordon
The world around us is a strange and wacky place. Even so, it becomes ever stranger and wackier by the day. Just when we think we’ve seen it all…something new appears and creeps us out.
For instance, have you seen Hillary Clinton’s face lately? Holy Toledo! What a fright that is. We can’t quite tell what happened. But whatever it is…its gawdawful.
Taking notice of the many absurdities out there is both the joy and misery of the objective observer. One moment you’re doubled over with laughter. The next you’re doubled over expelling your lunch with disgust.
Did you know the U.S government paid federal workers $400 million to do nothing? No kidding, (Read More....)
. . . → Read More: Worshiping Utterances
by 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....)
. . . → Read More: How to Achieve Honest Banking
by MN Gordon Economic Prism
“Carpe diem quam minimum credula postero,” scrawled Latin poet, Horace, in 23 BC.
The common translation for this fabled ode is, “Seize the day, put very little trust in tomorrow.” Indeed, its meaning can be easily misconstrued. Does it mean one should play hooky from work and not care about tomorrow?
Maybe, upon first review, it does. Though, from what we gather, Horace was getting at something entirely different. What he really meant is that the future is uncertain…and that one should do everything they can today to prepare for tomorrow. In other words, one should plan for uncertainty.
Perhaps, Horace also meant that one should (Read More....)
. . . → Read More: How to Seize the Day with the Mother of All Speculations