Mike Norman Economics

Philly Fed president Patrick Harker may help implement monetary policy, but certainly doesn't understand it. 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/ Understanding the Daily Treasury Statement video course....

Xi Jinping just offered the Global South a stark alternative to decades of western diktats, war, and economic duress. 'Peaceful modernization' will establish sovereignty, economy, and independence for the world's struggling states...The Cradle‘Peaceful modernization’: China’s offering to the Global SouthPepe Escobar

The world is bifurcating into the US-led system and others. This is simultaneously leading to a split in world trade including settlement, which is the foundation of the global economy. In this sense, multipolarity is already here and the question is whether the US can reverse it.BTW, economic geography is a key aspect of economics. (It is Paul Krugman's side interest.) Economic geography is foundational to the world system.The world system is primarily an information system, which in modern...

Important! Decoupling seriously on.Implications for global trade and world economy uncertain, i.e., has the US thought this through systematically. Judging by the sanctions "war" to date, probably not. Anyway, thinking through changes and likely consequences in a huge complex adaptive system like the world system  is difficult to impossible. All that can be said  at this point is that there will be surprises. This is a huge escalation. One thing can be said with assurance about the Biden...

Seems to be some confusion out there so here you can see in this Government Money Market Mutual fund prospectus that the Fed has created a new govt obligation for USD savers to save in… They have $20b (fund’s largest holding) in a RRP with the FRBNY at the 3.05% RRP rate: This is going to go up towards 4% in two weeks then towards 5% in December… 🤑🧟‍♂️🤑🧟‍♂️This RRP asset has been created as an alternative to a depository account at a system Depository Institution for USD savers because those...

China and Japan have been reducing their holdings, but other countries are stepping up and adding to their holdings. 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 Major Foreign Holders of Treasury Securitie https://ticdata.treasury.gov/Publish/mfh.txt Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video...

It’s Wednesday and we have some snippets that really just make way for the music feature. Today, I consider the recent inversion of the US yield curve, which is typically a sign that recession is around the corner. We also learn that while most people are being hit with rising prices and flat wages, the banks are recording record net interest income as a result of their non-competitive, cartel like behaviour. And we wonder how more silly can the Swedish central bank prize in economics...

tag:blogger.com,1999:blog-2761684730989137546Tue, 18 Oct 2022 21:39:52 +0000MMTRussianeoliberalismUSChinaEZinequalityGreececapitalismSyriademocracyUkraineThomas PikettyUS politicsDonald TrumpFedcorruptioneconomics professioncurrency operationsUS foreign policymonetary policyemploymentVladimir PutinunemploymentJohn Maynard KeynesPaul KrugmanGermanypropagandaJGausterityeconomics and politicsEUfiscal policyIranGOPneoclassical economicsinflationlawfinancial crisisCIAdebtRandy WrayKarl MarxMMT...

An easy way to get the macro picture right, all the time. 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/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

A post by Steve Waldman -- Peace as war by other means -- reminds me of a recent post by Big Serge: Politics By Other Means - Putin and Clausewitz.  I highly recommend that post in its entirety.  It is a tour de force, in my opinion.  Both the Waldman and Big Serge posts zoom out to look at the long term interests for the two sides in the current war.  Both recognize that “War is the mere continuation of politics by other means", as Clausewitz wrote.  The Waldman post suggests that we move...