Fake Money’s Face Value Deceit

Posted on March 8, 2019 by MN Gordon

Shane Anthony Mele stumbled off the straight and narrow path many years ago.  One bad decision here.  Another there.  And he was neck deep in the smelly stuff.

These missteps compounded over the years and also magnified his natural shortcomings.  Namely, that he’s a thief and – to be polite – a moron.  Recently the confluence of these two failings came together like a sewage spill to a river draining through the center of town.

Mele made a dishonest mistake.  He failed to recognize that he’s not the only dishonest soul operating in a dishonest world.  That is, he failed to comprehend the difference between face value and real value.

So it was, with dishonest intentions, that he burgled a rare coin collection with no clue what it was that he’d taken.  To his soft and greedy mind all he saw was a hoard of coins with a face value of One Dollar.  Thus, he redeemed them for cash.  Zero Hedge offers the details: Continue reading →

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Why Warren Buffett Should Buy Gold

Posted on March 1, 2019 by MN Gordon

Warren Buffett bought his first shares of stock at 11 years old.  He saved up $114.75 and “went all in,” purchasing three shares of Cities Service preferred stock.  The day was March 11, 1942 – nearly 77 years ago.  Buffett recently reminisced about this purchase in his annual letter to shareholders:

“I had become a capitalist, and it felt good.”

Buffett was merely getting started.  Over the succeeding 77 years Buffett’s investing acumen, and a rising tide of government sponsored fake money, garnered him a personal net worth over $80 billion.  That’s a breathtaking haul, indeed.

Most nights Buffett sleeps well.  Why wouldn’t he?  He’s got more dough than he could ever possibly spend.  And as for the burden of extreme wealth, Buffett’s been given a nifty – tax free – escape route from beneath the mass of this weighty condition.

His pal Bill Gates, via the Bill & Melinda Gates Foundation, offloaded his conscience and flattered his ego.  Thus, even in the late night hours, when the coyote’s howl at a full moon, Buffett sleeps soundly and with the full knowledge that his fortune will be used for noble philanthropic causes.  Buffett’s pledged to give more than 99 percent of his wealth for benevolent endeavors. Continue reading →

Posted in Inflation, MN Gordon | Tagged , , , , | 3 Comments

The Great Workfare Era Is Here

Posted on February 22, 2019 by MN Gordon

New Congressional members arrived in Washington last month with much hoopla and the promise that a centrally directed, democratic economy, will usher in a new era of prosperity for all. This new Congress, however, isn’t looking to the hope and promise of the future. They’re looking to the despair and failings of the past.

“From each according to his ability, to each according to his needs,” declared Karl Marx in 1875. For the new Congress, and their retread pursuit of democratic socialism, the declaration is: “No shirker left behind.”

To attain this objective, all the accepted laws of gravity and arithmetic must be abolished by legislative decree. House Democrats, and many House Republicans, are eager to comply. Remember, to voters, debts and deficits don’t matter.

Politicians are well aware that to get elected and stay in office over the long haul they must promise free stuff. A politician that promises to cut social security and limit Medicare won’t be a politician for long. Continue reading →

Posted in MN Gordon, Politics | Tagged , , , , | 14 Comments

“The Future Ain’t What It Used to Be”

Posted on February 15, 2019 by MN Gordon

Something rather distressing with the political economy’s going on…

The populace, through a long sequence of self-inflicted economic and social depravities, has a bazillion and one fire ants up its pantaloons.  What’s more, they don’t like the uneven mix of pain and panic this provokes.  But they aren’t quite sure how to put a stop to it.

By their estimation, the main problem, on surface, is that general incomes do not cover general expenses and debt obligations.  There’s even data to support this.  For example, just this week it was reported that a record seven million Americans are 90 days behind on car loan payments.

Indeed, incomes aren’t cutting it.  But why aren’t they?  What has reduced the aggregate value of labor so far below the aggregate price of goods and services?  What’s the real source of the working stiff’s grave economic discomfort?

A scratch below the surface reveals something rather fantastical.  Though scarcely a soul cares to look.  Of those who bother, only a small and peculiar subset will dirty their hands and dig for an answer. Continue reading →

Posted in Inflation, MN Gordon | Tagged , , , , | 14 Comments