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MN Gordon: What Happens When Work Doesn’t Pay

Now there comes a timeIn every man’s life,Where decisions have to be madeWhether to toil, to labor,Or just plain pissYour days away, away, away!  – Caught in a Jar, Dropkick Murphys

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Jeffrey Tucker: It’s Worse Than Anyone Wants to Admit

The news about GDP on July 28 was entirely consumed in the throes of another definition change. What everyone understood is that what it means to be in a recession has been suddenly changed by government edict. It’s not a recession, they say…

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Economists and Financial Analysts are Not the Brightest Fish in the Sewer System

The ability of humans to believe whatever lie they want to believe never comes in lower than I expect, but it sometimes manages to come in even higher. Nowhere has that been more transparently true than in economics where everyday I read people in the financial media who must surely have IQs somewhere above a […]

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America the Beautiful is Broken

The twaddle that comes out of the White House is deep right now. When our tottering president isn’t out enjoying a bike ride and falling down because Putin put gum in his stirrup so that he couldn’t get his foot out to steady himself, he is assembling a colorful team of Frisco-style professionals highly qualified […]

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Two Primary Pointers to Recession are Rapidly Diving Deeper

One who was a solitary voice in claiming the year began in a recession has now been joined by several significant voices claiming the recession is here; it will hit like a hurricane; and it will be deep, long and difficult to get out of….

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Protected: This Economy is Ugly in its Bones – Part 2

There is no excerpt because this is a protected post.

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Why the Fed will fail to fight inflation until the recession beats it down

You cannot grow a turnip in a pile of dollar bills unless you let them rot first. Depending on the road the Fed takes, that could become the dollar’s highest value and the best the Fed can do to reduce food shortages. Whether the dollar decays depends, in good part, on whether the Fed chooses […]

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Protected: This Economy is Ugly in its Bones – Part 1

There is no excerpt because this is a protected post.

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US Economy Crashes Headlong into Recession!

Is it too extreme to say an annualized GDP growth number of minus 1.4% this quarter puts us in recession in this quarter, and is it too extreme to call that a “crash?” No, it is not in the least extreme, and I’ll tell you why, even though the standard definition of a recession is […]

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The Upbeat Downbeat on Housing and Commercial Real Estate

I mentioned in a recent article that the weird thing about this recession is that it is the only one in which personal income has gone up during a recession. That, of course, is because of government assistance, which is making it so we don’t have to feel the pain of a recession that the […]

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Recession Started Right on Time — Before Most Were Even Aware, So Beware!

Before we get into the timing of the recession, here is a graph that is particularly telling of the Fed’s journey and is worth studying from left to right. Notice how chaotic and less effective our journey with FedMed has become, just as I wrote about in another article this week (“Zero Hedge Confirms Fed […]

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GDP Screams U.S. Recession Has Begun, but ‘Real GDP’ Is Far More Terrifying

U.S. first-quarter GDP plunged profoundly negative, but real GDP would have crashed even harder if not for bogus BEA data revisions. According to the Bureau of Economic Analysis (BEA), the U.S. economy contracted 4.8% annually in the March quarter. Stocks soared on the news for two apparent reasons. First, many media outlets immediately reported the number as +4.8% […]

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