To: Roger
From: Jim Berger
Date: February 2, 2025
Subject: Testing a new Memo Format

Since I have titled this publication “Morning Memo,” I thought I should make it look a little more like a memo.

Roger, you will receive most of these memos, but since I publish them in a public forum, anyone who subscribes to my Substack will have access to them.

I have to get my publishing going this week.

I have designed the workflow for the several publications I plan to produce. I never thought it would take this much time, and, of course, I will need to modify the processes as I get going.

As you know, I don’t suffer from a lack of topics about which to write. I have too much. To add to the many topics I have in mind, I picked up a number of ideas on my break, during which I watched too much YouTube. YouTube has a plethora of channels with people spouting off about “the economy,” money, federal debt, The Fed, and a lot more. Some of them are just wacko. Some are a bit confused. And some have a pretty good handle on their subject, but they have one critical flaw that calls their entire presentation into question.

Knowing you, you’re probably thinking, “Right, Jim thinks he knows everything.”

I do not think I know everything. I do, however, understand some fundamental principles that help me test the logic of statements I hear. I have a lot of examples of this, but I will give you only one pet peeve: “Fed will raise rates.” At a most basic level, The Fed cannot change an interest rate. Interest rates are dependent variables. No one can change an interest rate unilaterally.

Well, Roger, I must go. Look for my announcement in” Language and Logic” of my new focus on the subject of money and banking.

Later
Jim