Mike Norman Economics

Zombie Trading caught the move down in NZD and we took some money out of CAD today as well.

Covert involvement in Yemen raises the same old questions about the machinations of the British oligarchy I have put out a number of articles out here recently about the market world of the ruling elite. A dark world of war, shady finance, mercenaries, money laundering, arms sales, etc.Mark Curtis says the U.K. is not a democracy but an oligarchy, where the aristocracy practice the dark arts. There is so much money to be made out of evil, that it attracts all the swamp creatures,...

Kill shot, or low ball?I say low ball. If that's all you got....Grasping Reality James Montier will soon have an answer to his question why people hate MMT. MMT is about to hate James Montier tooBrad DeLong | Professor of Economics, UCAL Berkeley

1000 CASTAWAYS: Fundamentals of Economics is now published! Here is the Amazon link: 1000 CASTAWAYS: Fundamentals of Economics by Clint Ballinger Enjoy! Any feedback welcome on the Amazon site. Cheers,Clint

It is Wednesday so very little blog writing today. One question I often get asked is what would happen if the bond market investors in a nation stopped bidding for the debt instruments being offered in the regular auctions. Interestingly, overnight I was sent some news from a Deutsche Bank information service written by their New York-based Chief International Economist, who signs himself off as “Torsten Sløk, Ph.D”. It related to these issues. The problem is that Dr Sløk seemed to want to...

Although yield curve slopes are very effective indicators for forecasting recessions, they are not infallible. This article discusses some of the reasons why a yield curve inversion can be a misleading recession signal.... Bond Economics  When Can Yield Curves Fail As Indicators?Brian Romanchuk

The attacks on MMT continue full steam ahead. Janet Yellen (former Fed chair, but clueless on money and banking)—a centrist–has joined the fray. Jerry Epstein—on the official left–has ramped up his ridiculous claims, now associating MMT with “America First” and fascism (you knew that was coming—it has always been the refuge of critics who couldn’t come up with valid critiques). But there are some rays of light. Bloomberg published a more balanced assessment...

All these Fed people don't even understand that their rate setting function is price setting and that means THEY control inflation.

Centrism also means never ending war! KV

DRAFT 3/26/19 MMT White Paper The purpose of this white paper is to publicly present the fundamentals of MMT. What is MMT? MMT began largely a description of monetary operations, which are best thought of as debits and credits to accounts kept by banks, businesses, and individuals. Warren Mosler independently originated what has been popularized as MMT in 1992.  And while subsequent research has revealed writings of authors who had similar thoughts on some of MMT’s...