Mike Norman Economics

Somewhat speculative, but.….CounterpunchLife Beyond 1.5CRobert Hunziker

There is no other word for what the Democratic Party has just done to railworkers than betrayal. InterfluidityBetrayalSteve Randy Waldman

On September 1, debt-trapped Sri Lanka reached a preliminary agreement with the International Monetary Fund for a 48-month extended fund facility of US$2.9 billion, which hardly covers the country’s outstanding debt, nor its immediate survival needs.Nevertheless, IMF structural adjustment requires the country to meet its familiar debt-restructuring conditions: privatization of state-owned enterprises, cutbacks of social safety nets, and alignment of local economic policy with US and other...

In September von der Leyen announced her support for a price cap on the international trade in exports of Russian pipeline gas and liquefied natural gas (LNG). Last month she said the European Union is “ready to go” with a price cap on Russian oil exports.However, the European and Asian gas and oil trade is not only contradicting what von der Leyen is claiming; it is demonstrating they are profiting from her public lies. In the gas market there is new evidence that the French, Dutch and...

I see illusions as the only obstacle to the creation of a healthy world, which in my view would look like a movement from the competition-based models of capitalism, militarism, imperialism and domination to collaboration-based models where all humans work in cooperation with each other and with our ecosystem toward the common good of all beings [i.e., away from narrow self-interest toward the common interest].  The only things preventing that movement are the large-scale illusions that our...

Russia isn’t “decoupling” from China, but is actively diversifying from it with the intent of sustainably averting the scenario of its potentially disproportionate dependence on the People’s Republic that was earlier offset by India serving as Russia’s alternative valve from Western pressure. Comprehensively expanding economic connectivity with India via the North-South Transport Corridor complements Russia’s related efforts with Iran to pioneer a New Eurasian Axis for accelerating...

US policies have set in motion de-dollarization, but that will take a long time, and the outcome may be surprising to many. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

Large bank corporations now tend to have both traditional lending divisions as well as securities market divisions. This was not always the case; regulators used to keep financial firms locked to specialisations — this was referred to as “the pillar system” in Canada. However, ongoing deregulation eroded the pillars — I discuss part of the economic logic below. It is possible to find banks that stick to a traditional loan/deposit structure (particularly in the United States, with a highly...

Yesterday (November 30, 2022), the Australian Bureau of Statistics released the latest – Monthly Consumer Price Index Indicator – which is a new data series that the ABS has introduced to augment the quarterly CPI index release. Regular readers will know that I have considered this period of inflation to be transitory, which means that it is likely to dissipate rather quickly once the driving factors abate. It doesn’t mean that those driving factors are necessarily short-term in horizon....

Hmmm what about the loss of all the Art Degree figurative “liquidity!”?NDX only up 4 1/2 percent …. for the day…. 🤔