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Disasters Can Happen

Recession Watch Fall 2017

by MN Gordon

Economic Prism

One Ear to the Ground, One Eye to the Future

Treasury yields are attempting to say something.  But what it is exactly is open to interpretation.  What’s more, only the most curious care to ponder it.

Like Southern California’s obligatory June Gloom, what Treasury yields may appear to be foreshadowing can be somewhat misleading.  Are investors anticipating deflation or inflation?  Are yields adjusting to some other market or external phenomenon, perhaps central bank intervention?

So far this year, and in the face of the much-ballyhooed prospect of Trumpflation, the yield on the 10-Year note has gone down.  Not up.  On January 1st, the 10-Year note yielded 2.44 percent.  As of market close Thursday, the yield was 2.22 percent.

At first (Read More....)

. . . → Read More: Recession Watch Fall 2017

Command and Control Economics

Russia, Soviet Unionby MN Gordon

Economic Prism

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

Stock Market Shangri-La

Stock Market Sept 2013by MN Gordon Economic Prism

The big news early in the week was that Larry Summers – the man so smart he lost hot breakfasts for Harvard and $2 billion of the university’s operating funds – withdrew his name from consideration for the next Federal Reserve Chairman.  The stock market loved the news.  The S&P 500 jumped a combined 13 points on Monday and Tuesday.

By Wednesday the relief of not having Summers tinkering around with monetary policy had been cast aside.  All eyes were recalibrated on current Federal Reserve Chairman Ben Bernanke, and his forthcoming (Read More....)

. . . → Read More: Stock Market Shangri-La

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