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Disasters Can Happen

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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Bear Witness to the Madness

Honest Banking Practicesby MN Gordon

Economic Prism

Second-rate economic data is first-rate news for Wall Street these days. We don’t quite comprehend the logic. But the popular reasoning goes something like this…

Good economic data is bad for stocks. For it means the Fed will begin increasing rates sooner rather than later. Higher rates are bad for the stock market because of increased borrowing costs.

Nonetheless, bad economic data is also bad for stocks. For it means the economy could be slowing into recession. Declining corporate earnings and contracting growth should push stock prices down.

The sweet spot, however, is in the middling. Moderate growth means corporate earnings should hold. It also means the Fed will delay raising rates…which furthers Wall Street’s glee.

This is simply absurd, we know. But just because it is absurd doesn’t mean we should deny it. We may not understand it, we may not agree with it. Yet it is happening all the same. Who are we to resist it?

Six (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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Trust Government?

United States Collapseby Phil Mancini

Government. It’s that necessary, benevolent, important entity that Americans need to see us through dire financial times, provide for us, decide for us, teach us the difference between right and wrong. In other words, to be our mommy and daddy.

According to our president we are wrong to believe otherwise.

But is dependence one of the ideals that the United States is based on? Americans are creators, inventors, innovators, do-it-yourselfers, and, above all, individuals. Americans did not spend over two centuries leading the world in ideas to become a people dependent on government. It’s inherent that Americans don’t trust government enough to become dependent on it.

The United States is a country that was founded on an intense (Read More....)

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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....)

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Give Trains a Chance

bridge-186109_640by MN Gordon Economic Prism

Chinese exports and imports slipped in March. According to trade data from Beijing released Wednesday, exports declined 6.6 percent from this time last year. Moreover, imports dropped 11.3 percent.

If you can believe it, China’s first quarter GDP rose just 7.3 percent. That’s its slowest growth rate since 2009. While this may be red hot growth in many countries, in China this is cause for alarm.

In China, 8 percent GDP is considered necessary to create enough jobs for the tens of millions of migrants flooding from the country to the city. Likewise, this growth and creation of jobs are thought to be necessary to prevent massive social unrest. Some, however, believe a slowdown for China will ultimately help the economy.

Last month, Mei Jianping, professor of finance at the Cheung Kong Graduate School of business, explained why a slowdown is inevitable. (Read More....)

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Total Abandonment of the Rules of Common Sense

Economy, Federal Reserve, Economic Collapse, Stock Marketby MN Gordon Economic Prism

U.S. consumers are doing what they do best. After a six year hiatus, they’re back at it. Consumers are eagerly borrowing money. What’s more, they’re spending it!

According to the Federal Reserve Bank of New York, U.S. consumer debt rose during the fourth quarter of 2013 by the most in six years. “Household debt increased 2.1 percent, or $241 billion, to $11.52 trillion,” (Read More....)

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