Mike Norman Economics

Looks like DOGE/Elon trying to reduce top line by $1T by September… US GDP $27T/yr…. So no multiple that’s a direct 3.7% … I guess they think they’re only reducing govt spending on unnecessary regulatory activities or something… climate nutter stuff etc… maybe the “Argentina model”… ?Reducing the federal deficit from $2T to $1T in FY2026 requires cutting an average of ~$4B/day in projected 2026 spending from now to Sept 30. That would still result in a ~$1T deficit, but economic growth...

Today, we solve the ‘Case of the Missing Report’. Recall from – The Case of the Missing Report – Part 1 – that the Asian Development Bank published a report I had written (with Randy Wray and Jesus Felipe) – A Reinterpretation of Pakistan’s ‘economic crisis’ and options for policymakers (draft version) – in June 2009 as part of work I was undertaking for the Bank at the time on economic development in Central Asia. The report was published on June 1, 2009 as an official ADB Economics Working...

With so many other countries going to crypto, wouldn’t it be ironic if the euro turns out to be the most stable currency? 

Art degree morons as usual can’t understand the Accounting abstractions… think NVDA has to be shipping the REAL units to where the Accounting ABSTRACTIONS are recorded…Like I guess they think we’re importing $300B net of Guinness, Jameson and potatoes from Ireland…It’s the same as the current Trump “tariffs!” womanish soap opera… A LOT of people are going to get that wrong for the same reasons…Looks like $NVDA GPUs have never been physically in Singapore So, according to $NVDA 10-Q...

A judge blocked, but only temporarily. This could be big and impactful. 

 This blog post is a long time in gestation and I could have written in 2009 which is the relevant year of the events that I will document in this two-part series. My conversations with government officials during my working trip to the Philippines last week highlighted several things, including their sheer terror of IMF intervention and the ratings agency. I will write separately about that in a later post. But the IMF watches these types of nations like a hawk and is ready to pounce to...

Stephanie asks Deepseek.The LensThe Impact of 25% Tariffs on Canadian GDP—The Bank of Canada vs DeepseekStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

Keep your head on when everybody else is losing theirs. 

 Expectations.The LensWhat is the University of Michigan Survey of Consumer Sentiment Telling Us?Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

Can’t even make it up… moron intellectual degenerate Art degree climate nutters (who couldn’t tell you the atomic number of hydrogen) running interference for the insurance scammers…California's insurance system is broken for a variety of reasons, but climate change is not one of them. There is no greater consumer scam underway than insurance industry trade groups blaming climate change for skyrocketing rates. The media is complicit, on the take. https://t.co/VN9RU7F7Oz— Ryan Maue...