Mike Norman Economics

The U.S. should set a price cap on U.S. LNG going to Europe, as American gas is being delivered to Europe at prices four times higher than the price for domestic consumption, Russian Deputy Prime Minister Alexander Novak said in an interview with Russian state television.“We would advise our US partners to set a certain cap price for the resources they are supplying to Europe. This only pushes Europe toward energy poverty,” said the Russian official who represents the country at the OPEC+...

The main plans that I discuss in these posts constitute two “families,” each with some antecedents and many subsequent related newer proposals. I think of them as Goudriaan/Graham/Hart-Kaldor-Tinbergen-type plans and Keynes/bancor/SDR-type plans....The world appears to be moving toward a set of conditions in which scarcity of real resources dominate for a variety of reason not the least of which is natural limitations on the use of carbon-based fuels owing to pollution and climate change. In...

Charles schools Ben.Short. Definitely worth a read from the MMT POV.Lars P. Syll’s BlogCharles Kindleberger v. BernankeLars P. Syll | Professor, Malmo University

GOP playing this perfectly:Biden's Latest Inflation Report Is The Worst Economic Data Seen In Our Lifetimes: 401k' are now 101k's: Too much munnie printing: Election too soon for Dems to do anythng about it....

All about the Fed's Central Bank Liquidity (Forex) Swap Lines. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Forex swap lines posts on Mike Norman Economics https://mikenormaneconomics.blogspot.com/search?q=forex+swaps Federal Reserve Bank of NY Swap Lines data...

The Fed is likely to continue to raise rates if only to maintain its credibility, even though higher rates are price increases from the MMT POV, and the augmented interest payments constitute a fiscal increase.Zero Hedge"Horrible"... "Brutal"..."A Disaster For Democrats": A Shocked Wall Street Reacts To Today's CPI Nuclear BombTyler Durden

[Sam] Taylor claimed: "Financial markets will punish fiscal irresponsibility, and Scottish independence would be fiscally irresponsible on a vastly greater scale.”Unfortunately for both Ferry and Taylor the logic of their arguments was already debunked by various economic experts, including Professor Bill Mitchell, Professor Stephanie Kelton, Nathan Tankus, and Brian Romanchuk. Let's break it down.…The National (Scotland)Would an independent Scotland be facing a crisis like Liz Truss's...

I ran across Carolyn Sissoko’s working paper “Financial dominance: why the ‘market maker of last resort’ is a bad idea and what to do about it” (link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4240857). Although I agree that non-bank finance (“market-based finance”) is going to be the source of financial instability under current institutional arrangements in the developed countries, I am not too sympathetic with her framing of the issues. Private sector balance sheets have been...

On July 21, 2022, the Bank of Japan issued this – Statement on Monetary Policy – which outlined that it would continue to use its capacities to implement ‘Yield curve control’, whereby the “Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate Balances in current accounts held by financial institutions at the Bank” and “will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit so that 10-year JGB yields will remain at...

😂😂😂😂😂Bubbe Janet too busy out climate nuttering to know what’s going on in her real job….How it started vs how it's going a day later. pic.twitter.com/DgzudviEDu— Lyn Alden (@LynAldenContact) October 12, 2022