Tag Archives: debt

America Goes Full Imbecile

Posted on June 8, 2018 by MN Gordon

Credit has a wicked way of magnifying a person’s defects.  Even the most cautious man, with unlimited credit, can make mistakes that in retrospect seem absurd.  But an average man, with unlimited credit, is preeminently disposed to going full imbecile. … Continue reading →

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What Fed Chair Powell Forgot to Mention

Posted on March 23, 2018 by MN Gordon

What are the chances of Federal Reserve Chairman Jerome Powell being wrong?  The chances he’ll be wrong on the economy’s growth prospects, the direction of the federal funds rate, and inflation itself?  Our guess is his chances of being wrong … Continue reading →

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Broken Promises

Posted on March 2, 2018 by MN Gordon

Consumer debt, corporate debt, and government debt are all going up.  But that’s not all.  Margin debt – debt that investors borrow against their portfolio to buy more stocks – has hit a record of $642.8 billion.  What in the … Continue reading →

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When Budget Deficits Will Really Go Vertical

Posted on February 16, 2018 by MN Gordon

United States Secretary of Treasury Steven Mnuchin has a sweet gig.  He writes rubber checks to pay the nation’s bills.  Yet, somehow, the rubber checks don’t bounce.  Instead, like magic, they clear. How this all works, considering the nation’s technically … Continue reading →

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