Mike Norman Economics

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…. 🤔

I said this would happen. 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. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

Westphalia, the biggest state in Germany in terms of economy and population, has declared an emergency situation amid the energy crisis in order to be allowed to take on more debt. North Rhine-Westphalia (NRW), home to 20 of the 50 largest German companies, declared an “extraordinary emergency situation” to be able to access more loans which would otherwise be denied to the state because of a rule on how much debt a state can borrow, German broadcaster WDR reports....OilpriceGermany’s...

Former Chinese leader Jiang Zemin, who died Wednesday at the age of 96, managed to be underestimated for most of his life, despite rising to exalted heights. He was not considered an inspiring figure when Deng Xiaoping plucked him from Shanghai to run the government after the 1989 purge, and in accounts of the pivotal economic reforms of the 1990s he is often overshadowed by the charismatic and decisive Zhu Rongji.Yet looking back, it seems clear that Jiang was responsible for establishing...

 Individualism (West) versus the systems approach (East). Which will win?Another major difference is the emphasis on abstract principles (West) versus situational awareness (East).Another, related to the above, is the difference between ideology and practicality.This article, while interesting, is written from a Western mindset in that the author seems to lack experience of the East. In the West this is usually displayed by those that have practiced Oriental martial arts or pursued Eastern...