Author Archives: MN Gordon
Within the Vice-like Grip of the Secular Bear
The Labor Department released the August jobs report last Friday. The median estimate of economists surveyed by Bloomberg was for a gain of 130,000 jobs. The actual number of new jobs created was just 96,000. This means several things. First … Continue reading
Providence Is With Us
Yesterday European Central Bank President Mario Draghi announced what could be an unlimited bond buying program to save the euro. Later in the day, after running up 28 points, the S&P 500 closed at its highest level since before Lehman … Continue reading
More Credit, More Debt: Lessons from the Last Great Unraveling
“The lord giveth increase, but man devised credit.” — Garet Garrett Solving the Debt Problem with Credit Something quite remarkable happened in the years following the war to end all wars. European economies were ruined and European governments were buried … Continue reading
The Clever Fellows of Jackson Hole
The cony-catchers assembling in Jackson Hole, Wyoming, believe the darnedest things. They think they can decide the price of the economy’s most important component – its money – better than the market can. Moreover, by low-balling the price of money … Continue reading
