Mike Norman Economics

Keep your eyes focused on the big picture. We're good until June. Then politics will be a key factor. Sign up for email list. Send me an email at [email protected]

The debt ceiling is being used a negotiating tool in American politics yet again. My concern with American politics is that most things seem to be over-dramatised, while some disturbing things are shoved under the carpet. The debt ceiling is a great source of hysterics from south of the border. My highly non-informed take is that this debt ceiling drama will end in the usual way, going to the 11th hour before some kind of deal is struck.American politics is kabuki. Externally, the drama is...

MTG with the “checkbook!" analogy:Mitch McConnell and Chuck Schumer wrote checks the American people can’t pay. Then they worked with Joe Biden and Nancy Pelosi to pass the problem to @HouseGOP.I will not sign off on a clean bill raising the debt ceiling limit! pic.twitter.com/Kne73d73Cp— Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) January 19, 2023 Ultra MAGA digging in for a slog…

It’s the good oooolld “govt as business!” art degree analogy by this person who I guarantee does not even know what Basis of Accounting the US govt uses…. GUARANTEED… lock it…Would you invest in this business?Total debt: $31 trillionAssets: $4.8 trillionAnnual revenue: $4.9 trillionAnnual Income: $1.4 trillion LossThis is the US Government.— Genevieve Roch-Decter, CFA (@GRDecter) January 19, 2023

It's been floated that the Fed could step in to buy "defaulted" US Treasuries if it came to that under a debt ceiling showdown. If so, gold would soar and the dollar would go down hard. Sign up for my email list. [email protected]

 Glazyev and Poszar.The CradleGlobal South: Gold-backed currencies to replace the US dollarPepe EscobarRelatedGeopolitical Economy ReportPeru’s natural resources: CIA-linked US ambassador meets with mining and energy ministers to talk ‘investments’ Ben Norton

"Our university system that produces a large number of talent is also helping a lot as we have tied up with many universities to prepare right talent," he said.Asked about the government's own investment plans, he said the government itself is putting in USD 10 billion and it has chalked out a long haul programme....Business Standard (India)India aims to become key semiconductor supplier for world: [Communications Minister Ashwini] Vaishnaw

Earlier this month, former NY Fed repo guru Zoltan Pozsar wrote one of his most important reports of 2022, in which he described how Putin could unleash hell on the Western financial system by demanding that instead of dollars, Russian oil exporters are paid in gold, effectively pegging oil to gold and launching Petrogold.Then, China's President Xi visit with Saudi and GCC leaders marked the birth of the petroyuan and a leap in China’s growing encumbrance of OPEC+’s oil and gas reserves:...

From an Indian perspective, it may seem momentarily that China’s economy is slowing while India’s expanded by nearly 7 percent (per World Bank predictions.) Can India catch up with China in a medium term scenario? This is where the devil lies in the fine print. The heart of the matter is that China’s GDP growth of 3 percent translates as a year-on-year expansion of its economy by a whopping $18 trillion. To put matters in perspective, China has added a little over five and a half times the...

Gov't cutting spending or reducing its "debt" is like reducing a pizza, while the number of people is the same or growing. Soime will have nothing to eat or, everyone will have a smaller and smaller slice. Sign up for my email list. Email me at [email protected]