The Art of the Lose-Lose Deal

Posted on September 8, 2023 by MN Gordon

Has there ever been a worse time to be a lowly American wage earner?

First, Washington spewed out $6 trillion in printing press money.  This pushed consumer price inflation to a 40 year high.  At the same time, it diluted wages from a standard lager to a pilsner light.

Now, at this very moment, the demand for higher wages through union organization is leading to the mass culling of payrolls.  The higher wages go.  The less jobs will remain.

Just last month, for example, Yellow Corp., a trucking company, filed for Chapter 11 bankruptcy protection.  Yellow CEO Darren Hawkins blamed the International Brotherhood of Teamsters for driving the company out of business.

Teamsters General President Sean O’Brien pointed the finger at, “Yellow’s dysfunctional, greedy C-suite” for the company’s demise.  Adding, “They shamelessly pin their corporate incompetence on working people.”

Who’s right?  Who’s wrong?  Who knows? Continue reading →

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Taking Scalps

Posted on September 1, 2023 by MN Gordon

Major League Baseball continues its grind through the dog days of summer.  By now, the hunt for a playoff spot is long gone in many cities.  Teams are below .500.  They can’t even make it via the wildcard.

In Atlanta, however, Braves fans are invigorated.  The team has the best record in baseball.  It’s also running away with the National League East.  With just 30 games left, as of this writing, the Braves lead the division by 13.5 games.  At this point, it’s near impossible to not make the playoffs.

Many Braves ballplayers are having career years.  Matt Olson leads the league in runs batted in by a wide margin.  He’s second in home runs.  Ozzie Albies.  Austin Riley.  Marcell Ozuna.  All are on fire.

On the hill, Spencer Strider mows down opposing batters like whirling dervishes at the Battle of Omdurman.  He leads the league in both strikeouts and wins.

The most sensational performance, however, is being put on by Ronald Acuña Jr.  The 25-year-old right fielder is a terror on the bases.  He leads the league in – on base percentage, stolen bases, and runs.  In short, he gets on, steals bases, and scores more effectively than everyone else. Continue reading →

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Debt and Destruction

Posted on August 25, 2023 by MN Gordon

Something’s off.  And it’s making life downright unpleasant for a broad cross section of Americans.

The average worker, after putting in his 40 hours a week, is coming up short.  Cash outflow consistently exceeds cash inflow.  Debits overwhelm credits.  How could this be?

The unemployment rate, according to the Bureau of Labor Statistics, is 3.5 percent.  This is near a record low.

With everyone working and earning an income, shouldn’t consumers be fat and happy?  Shouldn’t they be paying down their debts and paying off credit card balances each month?  Shouldn’t they be squirreling away a few nuts for the winter ahead?

In reality, consumers are struggling to make ends meet.  Households are spending more money than they’re bringing in.  Their finances are being stretched to the breaking point.

For example, seasonalized rates of severe delinquency for auto loans are the highest they’ve been in 17 years.  Severely delinquent loans, if you’re unfamiliar with the term, are loans that are more than 60 days past due.  Defaults are more than 90 days past due. Continue reading →

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An Urgent Appeal for Duane “The Master of Disaster” Peters

Posted on August 18, 2023 by MN Gordon

Duane Peters worked really, really hard at being “The Master of Disaster” for over 40-years.  Day after day.  Year after year.  Decade after decade.  He gave it his all.

It was a tough job.  The broken bones.  The knocked-out teeth.  The many face pummelings.  But he was good at it.

When inducted into the skateboarding hall of fame in 2015, Peters delivered, what must be, without question, the greatest acceptance speech of all-time.  This was the high-water mark of a turbulent life and career.

The last several years haven’t been kind to Peters.  The Master of Disaster was never supposed to live into his 60s.

Yet, somehow, he did.  And like the rest of us, he’s trying to make the most out of life in America circa 2023.

This week, the yield on the 10-Year Treasury note eclipsed 4.3 percent.  A 15-year high.  If yields continue to rise, and credit markets continue to tighten, this one thing will change everything.

Where to begin? Continue reading →

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