A 30 Year Mess in the Making

Posted on March 3, 2017 by MN Gordon

“We have assembled a best-in-class team of policy advisors to drive President Trump’s bold plan for job creation and economic growth.” Gary Cohn, Chief Economic Advisor to President Trump

Promises of Slop

The art and science of spending other people’s money is not an occupation suited to just anyone.  Rather, it’s a skill reserved for the professional world-improver.  To be successful, one must act with a zealous devotion to uplifting the down and out, no matter the cost.

Lawyers, bankers, economists, and government philosophers with fancy resumes, whom attended fancy schools.  These are the devoted fellows who comprise President Trump’s team of economic policy advisors.  Moreover, these are the chosen associates who are charged with bringing Trump’s economic vision to fruition.  Are they up to the task?

Only time will tell.  But, already, it’s quite evident that Trump’s economic policy advisors have their work cut out for them.  During Trumps speech to Congress on Tuesday night, he called for more jobs, more education, more military, and more affordable health insurance. Continue reading →

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The Dow Speaks: “In Trump We Trust!”

Posted on February 24, 2017 by MN Gordon

The rewards of being the President, these days, are few and far between.  Just ask President Trump.  The work hours are terrible, the pay is far less than that of a corporate CEO, and you’re endlessly surrounded by shabby politicians.

What’s more, the hand towels aboard Air Force One have the shoddy over washed roughness of those at a turnpike Motel 6.  But that’s not the worst of it.

Any and all efforts to remake foreign policy to address the threats of the 21st century – not the 20th century – are undermined by the intelligence community with vehement efficiency.  Before you can say Jack Robinson, the leaky conduit to the mainstream media boils up the latest brouhaha to simmering pot.

Last week, for example, Trump had to fire his national security adviser for engaging in statesmanship with the Russians.  Then, after that, John McCain – a Class A ignoramus – went and kvetched about Trump’s efforts from Europe.  Good grief!

With the exception of being a flatus odor judge, we can’t think of a stinkier job than being the President of the United States.  Can you? Continue reading →

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The Art and Pseudoscience of Monetary Policy

Posted on February 17, 2017 by MN Gordon

Everyone’s got a plan for sale these days.  In fact, there are so many plans out there we cannot keep up with them all.  Eat celery sticks and lose weight.  Think and grow rich.  Stocks for the long run.  Naturally, plans like these run a dime a dozen.

Good plans, however, are scarcer than hen’s teeth.  You can’t possibly see them no matter how closely you look.  They simply don’t exist.

This was the case on Capitol Hill this week, where money and politics collided at the biannual monetary policy gala.  Despite all the hubbub, no good plans were offered.  What’s more, on first glance, no bad plans were offered too.

When Fed Chair Janet Yellen’s testimony was finally over, Congress knew less about the Fed’s plans than when it started.  For instance, when asked if the Federal Reserve would raise rates next month, Fed Chair Janet Yellen replied, “I can’t tell you exactly which meeting it would be.  I would say every meeting is live.”

What does this mean, really? Continue reading →

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When Trumponomics Meets Abenomics

Posted on February 10, 2017 by MN Gordon

What will President Trump and Japanese Prime Minister Shinzo Abe talk about when they meet later today?  Will they gab about what fishing holes the big belly bass are biting at?  Will they share insider secrets on what watering holes are serving up the stiffest drinks?

Indeed, these topics are unlikely.  Rather, what they’ll be discussing is cooperative trade, growth, and employment policies between their respective national economies.  They’ll also talk about currency debasement opportunities.

Soon enough, perhaps by the time you read this, you’ll be able to peruse the headlines and garner soundbites of their discussions.  Maybe a new partnership will be announced.  Anything’s possible.

Regardless, what follows is a brief review – a thirty year retread – that’s intended to put the meeting within its proper context.  This is the backstory you won’t hear anywhere else…

To begin, it was precisely the wrong thing to do at precisely the wrong time. Continue reading →

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