Tag Archives: interest rate

When Budget Deficits Will Really Go Vertical

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

Posted in Government Debt, MN Gordon | Tagged , , , , , | 128 Comments

As the Controlled Inflation Scheme Rolls On

American consumers are not only feeling good.  They’re feeling great.  They’re borrowing money – and spending it – like tomorrow will never come. On Monday the Federal Reserve released its latest report of consumer credit outstanding.  According to the Fed’s … Continue reading

Posted in Inflation, MN Gordon | Tagged , , , , | 8 Comments

An Open Letter to William Dudley

Dear Mr. Dudley, Your recent remarks in the wake of last week’s FOMC statement were notably unhelpful. In particular, your excuses for further rate hikes to prevent crashing unemployment and rising inflation stunk of rotten eggs. Crashing Unemployment Quite frankly, … Continue reading

Posted in Economy, MN Gordon | Tagged , , , , | 11 Comments

The Art and Pseudoscience of Monetary Policy

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, … Continue reading

Posted in Inflation, MN Gordon | Tagged , , , , | 1 Comment