Mike Norman Economics

Beijing’s ties with countries now in ASEAN tend to bend the bamboo way: soft, clever, persistent and enduringAsia rising — economically.Asia TimesBamboo diplomacy: the China-SE Asia romancePepe Escobar

This bottom on October 12th might be where the increase in government interest income overcame the reduction in NPVs due to the risk free rate increase itself… This corresponds with the recent bottom in Depository system Residual (Assets - Liabilities ie implied Capital)  here:Just depends on the first derivative of Fed policy rate increases… if they maintain current plan of reducing the magnitude of periodic increases then this bottom will probably stand and we’re in the clear from these...

😂😂😂😂… assholes….GDPNow model from ⁦@AtlantaFed⁩ has moved up to +4% (q/q ann.) … majority of contribution coming from consumer spending; inventories and residential investment subtracting from growth pic.twitter.com/Uv8wJozZqt— Liz Ann Sonders (@LizAnnSonders) November 9, 2022 FED'S KASHKARI: OUR TRADITIONAL ECONOMIC MODELS AREN'T WORKING VERY WELL RIGHT NOW.— Breaking Market News ⚡️ (@financialjuice) November 10, 2022

Paper here mentions how the required dogmatism in the Platonist dialogic methodology can prevent education…Multiplist and absolutist epistemologies are incompatiblewith dialogic teaching. In the words of Bakhtin (1984), “bothrelativism and dogmatism equally exclude all argumentation,all authentic dialogue, by making it either unnecessary ...orimpossible (p. 69). Despite their differences, both multiplistsand absolutists rely on fundamentally monologic assump-tions about knowledge: They...

It should not be surprising that modern financial elites are behaving in the way that Ibn Khaldun described decadent dynasties: with anti-social selfishness. The drive for money turns men into homo economicus, the self-seeking “libertarian” individuals idealized by the Austrian and Chicago Schools, unconstrained by feelings of the “group identity” that Ibn Khaldun called ‘asabiyah, Ferguson called “fellow feeling” and the Russian anarchist Peter Kropotkin called mutual aid.Most philosophers...

There is no doubt that the on-going pandemic has left a trail of economic problems including major supply constraints, the growing problem of long Covid and other issues that are challenging policy makers. They have been exacerbated by the behaviour of OPEC+ and the Ukraine situation. We now have a period of inflation, real wage cuts and most central banks doing their best to make matters worse. However, we now have a phenomenon that goes like this. In the UK, everything ‘bad’ that arises is...

Bank capital is the buffer on a bank’s balance sheet that allows it to absorb losses, particularly credit losses. Although there is a great deal of excitement about bank liquidity — bank runs, just like in “It’s a Wonderful Life”! — but the main danger is the capital buffer being wiped out (insolvency). A bank run might feature at the end of the bank’s lifetime (quite often, regulators just step in), but the trigger is the insolvency. This article discusses bank capital at a high level,...

China's State Council Information Office on Monday issued a white paper titled "Jointly Build a Community with a Shared Future in Cyberspace.Xinhua (Chinese state media)Full Text: Jointly Build a Community with a Shared Future in Cyberspace

Video and transcript. Covers a lot of ground, mostly things that appear in his books.Some representative quotes:...unless you have a study of economics as an economic system – understanding what’s causing the polarization and the poverty in the United States – you’re not going to be able to have a reform movement to change the system. The role of economics departments is to dumb down the understanding of the economy.….Again, you want to look at the economy as a system. You don’t want to...

A GOP takeover of Congress in tomorrow's midterm elections is likely to trigger a large market rally. That's what sentiment surveys suggest. 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....