Tag Archives: monetizing debt

Walking the Path of Self Destruction

The era of stimmy checks and cheap consumer goods was fun while it lasted. Like a hot lunch, it always tastes better when free. The smell is more aromatic. The bites are more flavorful. Most of all, the belly leaves the table more contented. But is a free lunch ever really free? Continue reading

Posted in Economy, MN Gordon | Tagged , , , , | 16 Comments

The Great Donkification

The U.S. national debt has now eclipsed $28 trillion. The budget deficit for the 2021 fiscal year will likely run up to nearly $3 trillion – possibly more. Hence, it will be financed with printing press money…that is credit created from thin air by the Federal Reserve and loaned to the Treasury. Continue reading

Posted in Government Debt, MN Gordon | Tagged , , , , , | 5 Comments

Fifty Basis Points To Disaster

Fiscal stimulus, including the latest $1.9 trillion American Rescue Plan Act, is a terrible joke. And the means for financing it is a terrible fraud. A massive deficit, piled upon a mammoth debt, made possible by dollar debasement. Continue reading

Posted in Economy, MN Gordon | Tagged , , , , | 52 Comments

The Dollar Is Dying

This week, while perusing the Federal Reserve’s balance sheet figures, we came across a rather curious note. We don’t know how long the Fed’s had this note posted to its website. But we can’t recall ever seeing it. Continue reading

Posted in Inflation, MN Gordon | Tagged , , , , | 17 Comments