Science for Madmen

Posted on October 16, 2020 by MN Gordon

One of the absurdities of the coronavirus era is the purported faith in science by the political class; in particular, the left.  Joe Biden, for instance, said he would shut the country down if recommended by scientists.  Nancy Pelosi, this week, with respect to coronavirus stimulus, told Wolf Blitzer, that “…the science should call the shot and when they do, we should all trust it.”

“Trust, but verify,” counseled Ronald Reagan.  No doubt, the Gipper, didn’t envision the ridiculous science behind coronavirus containment policy.

President Trump, taking the advice of Reagan, recently verified the effects of coronavirus himself.  His findings, following a three day bout with the illness, revealed the science based policies that have been applied are not to be trusted.  Trump tweeted these conclusions:

“One thing that’s for certain: Don’t let it dominate you.  Don’t be afraid of it.  You’re going to beat it.”

According to Science magazine, “[Trump’s] repeated public dismissals of scientific expertise, and his disdain for evidence have prompted many researchers to label him the most antiscience president in living memory.” Continue reading →

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America Has an Epic Choice

Posted on October 9, 2020 by MN Gordon

“There is no means of avoiding the final collapse of a boom brought about by credit expansion.  The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” – Ludwig von Mises, Human Action [1949]

Crisis Now or Total Catastrophe Later?

On Tuesday, while still hopped up on anti-coronavirus goofballs, President Trump had a moment of clarity.  After 40 years of near uninterrupted credit expansion, it was finally time to cut it off.  And he was just the guy to do the cutting.

Trump took to Twitter to make his first snips.  He announced that stimulus bill negotiations were severed.  Minutes after, the Dow Jones Industrial Average hit a 400 point air pocket.  Several hours later, and perhaps following a little tutelage from Mnuchin and Kudlow, Trump reversed course.

We don’t know what Mnuchin and Kudlow said to Trump.  But we suppose they informed him that, at this point, the immediate health of the American economy is contingent on delivering printing press money to citizens and non-citizens alike…who cares if the long-term consequences are catastrophic? Continue reading →

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“In America Money Does Grow on Trees”

Posted on October 2, 2020 by MN Gordon

This week provided additional confirmation that America is fully committed to a program of currency destruction.  Decades of terminal intelligence have gotten us to this special place.  We’ll have more on this in a moment.  But first some words on being fully committed.

We’ve never gutted a hog.  But we hear it’s a bloody mess.  The volume of blood that gushes out – as in, ‘bleeding like a stuck pig’ – is profuse.

Contemplating a bacon and egg breakfast plate reveals two types of commitment.  That of the chicken.  And that of the pig.  You may know this allegory.  The chicken’s involved in providing for the breakfast.  It provides the eggs.  But the pig’s fully committed to it.  For the pig must perish to provide the bacon.

America is presently bleeding like a stuck pig.  Public and private debts are hemorrhaging a bloody mess.  For example, the budget deficit for fiscal year 2020, which concluded on September 30, was $3.3 trillion.  By this, the federal government spent double what it generated via tax receipts and other confiscatory measures.  And the federal debt held by the public is now over 100 percent of GDP. Continue reading →

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Maxine Waters Drops the Hammer on Powell and Mnuchin

Posted on September 25, 2020 by MN Gordon

The days were indeed uncaring during the roll out of the CARES Act.  Lockdown orders.  Business closures.  Mass unemployment.  Daily riots.

These disorders are extensive and lasting.  They’re much greater than a $2.2 trillion economic stimulus bill.  But doing something is better than doing nothing, right?  An economic downturn should always be combated with legislation and a massive helicopter drop of fake money, shouldn’t it?

The popular account from leading economists and politicians is that without the CARES Act, everything would be much worse.  Therefore, they reason, another stimulus bill is needed.

On the first item, we have some reservations.  How does anyone really know what would have happened without the CARES Act?  How does anyone really know the U.S. economy is better off because of it?

What we do know is that what should have happened, didn’t.  An abrupt purge of bad debt was suspended.  We also know that we’ll be living with a myriad of CARES Act side effects, including a debt encumbered economy, for decades to come. Continue reading →

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