A Glimpse into the Coming Collapse

Posted on January 28, 2014 by MN Gordon

A Glimpse into the Coming Collapse
By Jeff Thomas, International Man

Beginning in 1999, we predicted a systemic economic collapse that would take place in the First World and would impact all other economies.  We began to list some of the “dominoes” that would fall as the collapse evolved and described that the “Great Unravelling,” as we termed it, would take roughly ten years.  At that time, we guesstimated that the first two of the dominoes, a real estate crash and subsequent stock market crash in the US, would begin in about 2005.

We were premature in this prediction, as the first of the crashes did not occur until 2007.  And, truth be told, we have frequently been incorrect in the timing of the other dominoes.  Whilst the actual events have been predicted correctly, our timing has often been incorrect.  In every such case, the prediction has been premature.

Sadly, however, the prediction of the events of the collapse have been almost entirely correct. Continue reading →

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Debt Downgrade Retaliation

Posted on January 24, 2014 by MN Gordon

There are occurrences of rich irony that require pause and present reflection.  One such occurrence emerged from the darkness and into the spot light earlier this week.  We could hardly believe our eyes…

“A Vatican monsignor already on trial for allegedly plotting to smuggle 20 million euros ($26 million) from Switzerland to Italy was arrested Tuesday in a separate case for allegedly using his Vatican bank accounts to launder money,” reported AP.

“Financial police in the southern Italian city of Salerno said Monsignor Nunzio Scarano, dubbed ‘Monsignor 500’ for his purported favored banknotes, had transferred millions of euros in fictitious donations from offshore companies through his accounts at the Vatican’s Institute for Religious Works.”

Here at the Economic Prism we’ll chalk this up as more evidence we are living in the epoch of mammon warned of in the New Testament.  “Ye cannot serve God and mammon,” reported Matthew from the Sermon on the Mount. Continue reading →

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How to Seize the Day with the Mother of All Speculations

Posted on January 21, 2014 by MN Gordon

“Carpe diem quam minimum credula postero,” scrawled Latin poet, Horace, in 23 BC.

The common translation for this fabled ode is, “Seize the day, put very little trust in tomorrow.”  Indeed, its meaning can be easily misconstrued.  Does it mean one should play hooky from work and not care about tomorrow?

Maybe, upon first review, it does.  Though, from what we gather, Horace was getting at something entirely different.  What he really meant is that the future is uncertain…and that one should do everything they can today to prepare for tomorrow.  In other words, one should plan for uncertainty.

Perhaps, Horace also meant that one should prepare for a tomorrow that is different than today.  For the only guarantees in life are death and taxes.  The only other guarantee is change.

Often times change is subtle.  Occasionally it’s dramatic.  There was the world before 9/11 or the assassination of Franz Ferdinand, and the world after. Continue reading →

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The Seven Year Decline of Economic Freedom

Posted on January 17, 2014 by MN Gordon

What a condescending dolt that Harry Reid is…good golly!  Not since Teddy Kennedy has there been a U.S. Senator that was hungrier for a knuckle sandwich.

On Tuesday the dissembling Senate Majority Leader thought he had it in the bag.  He was wrong.  Votes on two proposals to renew emergency unemployment benefits, which expired several days after Christmas, failed.

You can hear the tree branch of extended unemployment benefits for 1.3 million long-term unemployed cracking and creaking.  If a compromise isn’t reached when the Senate returns from vacation later this month, it could snap right off.  Then what?

We don’t quite know for sure.  But we suppose a large number of people will have to figure something out…and quick.  Their stomachs will compel them.

For this is the downside of tree branch economics.  As we elaborated earlier this month, we do not advocate increasing government programs.  Extended unemployment benefits should have never been enacted in the first place.  Yet we also recognize that growing a tree branch of mass dependency and then hacking it off is cruel and insulting. Continue reading →

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