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Disasters Can Happen

The Art and Pseudoscience of Monetary Policy

by MN Gordon

Economic Prism

Definitely Maybe

Everyone’s got a plan for sale these days.  In fact, there are so many plans out there we cannot keep up with them all.  Eat celery sticks and lose weight.  Think and grow rich.  Stocks for the long run.  Naturally, plans like these run a dime a dozen.

Good plans, however, are scarcer than hen’s teeth.  You can’t possibly see them no matter how closely you look.  They simply don’t exist.

This was the case on Capitol Hill this week, where money and politics collided at the biannual monetary policy gala.  Despite all the hubbub, no good plans were offered.  What’s more, on first glance, no bad plans were offered too.

When Fed Chair Janet Yellen’s testimony was finally over, Congress knew less about the Fed’s plans than when it started.  For instance, when asked if the (Read More....)

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Is DOW 20,000 and U.S. National Debt $20 trillion merely a coincidence? Or is there a correlation?

TreasuryWreck the Halls

by MN Gordon

Economic Prism

Arrested Development

Despite the best efforts of the bulls to make history happen, they’ve been unable to ‘git-r-done.’  At the time of this writing, the DOW is facing another bout of arrested development; it has yet to notch 20,000 for the very first time.

What a feat it will be when this remarkable, but trivial, event comes to pass.  After a near eight year run, the DOW will likely eclipse this exquisitely round numeric threshold in the very near future.  Shouldn’t such an achievement – and the associated wealth effect – have made us all (Read More....)

. . . → Read More: Is DOW 20,000 and U.S. National Debt $20 trillion merely a coincidence? Or is there a correlation?

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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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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Mass Money Debauchery

by MN Gordon

Economic Prism

Debauchery

The present day offers the opportunity for many incredible experiences.  Perhaps one of the most rewarding of all is bearing witness to the final days before the greatest economic crackup the world’s ever known.  Not since Nero clipped coins in 64 A.D. and fiddled as Rome burned has there been such an intolerable collection of dingleberries in imperial office.

John Maynard Keynes, the godfather of modern day economic planning, in his 1919 work, The Economic Consequences of the Peace, wrote: “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency.”

Incidentally, Keynes attributed this acute insight to another innovative central planner, one Vladimir Lenin.  Regrettably, these two visionaries predicted today’s present state of affairs with remarkable (Read More....)

. . . → Read More: Mass Money Debauchery

The Number One Factor Influencing Fed Monetary Policy

by MN Gordon

Economic Prism

Things Ain’t Right

A brief scan of the financial and economic landscape – both in the U.S. and abroad – offers ample confirmation that we are in the midst of a great reset.  From a feint tickle at the turn of the new millennium to a persistent itch a decade ago, the preponderance of evidence in this regard is now much too painful to ignore.  There’s no denying that things ain’t right.

Debt is increasing while GDP’s stagnating.  Stocks are rising while earnings are declining.  Incomes are flat-lining for the majority of workers while growing by leaps and bounds for the 1 percent.  Plus there’s over $13 trillion of negative-yielding debt.

With all this going on, what’s become lucidly clear is the frank understanding that there’s nothing that can really be done to reverse it.  No executive order.  No monetary (Read More....)

. . . → Read More: The Number One Factor Influencing Fed Monetary Policy

From Here to Eternity

Federal Reserveby MN Gordon

Economic Prism

Gentlemen-rankers out on the spree,

Damned from here to Eternity,

God ha’ mercy on such as we,

Baa!  Yah!  Bah!

— Gentlemen-Rankers, Rudyard Kipling

Insults and Offenses

For the first time in 80 years, vast numbers of hardworking, industrious people are finding themselves up the creek without a paddle.  Buying a home, paying college tuition, and squirrelling away a few nuts for retirement has become discouragingly difficult.  What’s more, the presumed benefit of these endeavors has become ever more suspect.

These days there’s a trifecta of offenses debasing the rewards of hard work, saving money, and paying one’s way.  Quite frankly, it’s insulting.  There’s nothing less to make of it, particularly for those competing in the rat race (Read More....)

. . . → Read More: From Here to Eternity

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