Mike Norman Economics

MAGA-GOP just using Biden/Summers own analysis against Democrats every day…

I'm getting into coffee roasting. (And, I answer a viewer's question about the Fed.) 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 Fed's H.8 release. https://www.federalreserve.gov/releases/h8/ Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

Expect the consequences to be grimMistaken assumptions and failure to think things through have consequences, not to mention ignoring the structure and function of the world system.MacrocosmPicking an Economic Fight With China is UnwisePhilip Pilkington

Chinese state-owned energy giants have been recently told by authorities to stop reselling liquefied natural gas.In recent months, Chinese LNG importers have been selling their excess inventories to Europe.Europe’s LNG supply could dwindle just ahead of the winter heating season.The National Development and Reform Commission (NDRC), China’s top planning body, has told the country’s state-held LNG importers, including Sinopec, PetroChina, and CNOOC, that they should stop reselling LNG cargoes...

MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex h/t Ray McGovern, former CIA official)Bracing ViewsThe Business of America Is WarW.J.  Astore, Lieutenant Colonel (USAF ret.), taught at the Air Force Academy, the Naval Postgraduate School, and currently at the Pennsylvania College of TechnologySee alsoNothing new to see here. As Lt. Col. Astore says, it's been going on since Napoleon. What has increased is the scale.War Is a Racket (1935) by Gen....

Of course, this is a variant of the “bond/currency vigilantes” stories that neoliberals love, and so features prominently in market discourse.The reaction in the bond market should have been predictable by the Chancellor. In the current environment, looser fiscal policy is going to be met with higher policy rates. The trickier part of the situation was the fragility of the liquidity situation of U.K. pension funds — which the Treasury should have been aware of, since they have an entire team...

It's great to be able to share a really good MMT thread from Twitter here, written by Andy Verity, who is a BBC economics correspondent: Tax Research UKThe danger is from Chancellors who want to balance the booksRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

The British government has descended into high farce. It is rather embarassing to watch adults behave in the way they have conducted themselves in the last longtime. I also note that the usual suspects are out in force claiming (spuriously) that the economic turmoil that has beset Britain demonstrates categorically that Modern Monetary Theory (MMT) is deeply flawed and the real world is now teaching us that we should be discarded into the dustbin of history – or rather disgrace. These...

The DBUs will help banks that are now looking to reduce their physical footprint with fewer brick-and-mortar branches, with a 'light' banking approach.Business Standard (India)A big step towards 'ease of living': PM Modi opens 75 digital banking unitsNirendra Singh

 Arms race in progress. China is ramping up. Previously, China had set the date for developing a world-class military at 2035. Presently, the target date is 2027.RT — Question More (Russian state-sponsored media)Xi vows to elevate Chinese military to ‘world-class standards’