Category Archives: MN Gordon
When Capital Hits Physical Limits
What is up with the American political economy and financial markets? Federal government spending’s running at an annual deficit of $1.9 trillion. What’s more, private financial markets are undertaking a capital-intensive technology buildout with only a hypothetical understanding of how it will all be paid for. Continue reading
The Bond Market is the House
New chapters of hubris in central financial planning are written on a regular basis. But rarely is one inscribed with such spectacular timing. Continue reading
How Kevin Warsh Inherited an Unwinnable Monetary War
When Julius Caesar marched his 13th Legion across the Rubicon River in 49 BC, he knew he was breaking a fundamental rule of the Roman Republic. But it was a calculated risk he chose to take. And, once crossed, there was no turning back. Continue reading
Modest Reflections on Varying Tolerances to Extreme Pain
Last week Fed Chairman Kevin Warsh delivered his debut alpha dog speech from Jackson Hole, Wyoming. It was titled “In Our Time,” and was billed as a broad blueprint for how he intends to govern. Namely, he wants a quieter Fed. Continue reading
