Author Archives: MN Gordon
Coming Down from Cloud Cuckoo Land
In between the birth and death of capital there’s a wide-ranging succession. The lifecycle of capital generally follows that it is imagined, produced, consumed, and destroyed. How exactly this all takes place involves varying and infinite undulations. Continue reading
Where Did Neel Kashkari’s Infinite Cash Go?
On April 10, 2020, at the apex of mass coronavirus hysteria, Minneapolis Fed President Neel Kashkari appeared on 60 Minutes. With eyes bugging out of his head, he offered a critical insight. That the Federal Reserve has “infinite cash” and will do whatever it needs to make sure there is enough cash in the banking system. Continue reading
Flying on a Wing and a Prayer
The main essence, as we understand it, is that over the last 18 months the Federal Reserve has reduced its balance sheet by nearly $1 trillion. With less Fed credit available, market interest rates must go higher. As interest rates go up, asset prices (stocks, bonds, and real estate) will eventually go down. Continue reading
ARMed and Dangerous at the U.S. Treasury
The U.S. government’s 2023 fiscal year ends at the end of the month. Does this excite you? It should. Assuming you care about the reliability of your dollar-based savings, investments, and what Uncle Sam does with the taxes you pay. Continue reading
