Category Archives: MN Gordon
Workers of the World, Unite!
Several decades of perpetual credit creation courtesy of the Fed’s artificially low interest rates have had countless unintended consequences for the global economy. In short, the economy’s reconfigured itself in ways it otherwise wouldn’t have. One example is the offshoring of U.S. jobs to China and the massive trade imbalance between the two countries. Continue reading
One Heck of a Reality Television Fight
Economic nationalism and the China bugaboo is shaping up to be one heck of a reality television fight. This is a cause that idiots on both sides can line up behind with gusto. Continue reading
The Three Stages of Modern Monetary Theory
Some ideas are so bad they’re best ignored. Like resentments – or stray cats – if you don’t feed them, they’ll go away. Before long, they’re forgotten altogether. That has been our approach to Modern Monetary Theory (MMT). The idea’s so obviously foolish, reckless, and outright suicidal. Why feed this dorkus maximus of economic thought? Continue reading
Why Fed Chair Powell’s a Laughingstock
Powell believes this ”technical adjustment” will compel banks with excess reserves parked at the Fed to pursue better returns elsewhere. Powell also believes lowering the IOER rate will keep the federal funds rate from deviating above its upper range. Continue reading
