Mike Norman Economics

Three days of positive flows should lead to a rebound, but the extent of that may be limited. 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/

There was commentary earlier this week (September 26, 2022) from an investment banker entitled ‘MMT takes a pounding’. I won’t link to it because I don’t want to send traffic to their site. But it is the narrative that the financial market commentators who desire to politicise public debate and use it to attack their pet hates. Modern Monetary Theory (MMT) apparently is a pet hate of this character and like many with similar biases he has been champing at the bit for some semblance of...

I have not seen too many longer articles about the “gilt crisis” in the United Kingdom, but have seen a variety of reactions on Twitter. My reaction is that the discussions reminded me why I mainly followed people who used the title “rates forecaster” and not “economist” when I was in finance. (The “rates forecasters” might have had economics degrees, but they knew that if they wanted people like me to take them seriously, they needed to not sound like the people with “economist” in their...

The higher rates provide higher risk free income to critical USD accounts.  This is and will turn out to be a better policy than the MMT policy of permanent ZIRP with current institutional arrangements of ERISA.A drawback of the policy adjustment though has been the severe reduction in NPV of all financial assets of moving it from 0.05% in March to the projected 4.5% in December…  9 months…A 10-yr asset would project a 35% reduction in NPV due to an immediate adjustment from 0 to 4.5%… so...

It's not just investors that are psychotic, but central banks and the whole entire failed dogma of monetarism. Not worth explaining, but I give it a try. 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/

Link to Randy Wray's "Monetary Policy: An Institutionalist Approach" as an antidote to the poison of monetarism and its policy application.The LensA Wonky (But Worthwhile) ReadStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

It’s Wednesday and I am now ensconced in Kyoto, Japan for the months ahead. I will report on various aspects of that experience as time passes. Today, I reflect on a debate that is going on in Australia about the situation facing live musicians. Should promoters be able to employ them for poverty wages including ‘nothing’ while still profiting or should they be forced to pay the musicians a living wage. You can guess where I sit in the debate.…We can change that to, "Everyone should be paid...

Bond markets are finally getting interesting, with the Bank of England launching emergency purchases to restore order in the gilt market. Since I am not in constant contact with people trading gilts, I will just offer a tentative description of what seems to be going on, and what it “really means.”...Bond Economics Gilt Market Mayhem!Brian Romanchuk

Large holes in both Nord Stream 1 and 2 pipelines in the Baltic Sea. Sabotage is being considered. Energy markets on alert. 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/

The leakages and explosions at the Nord Stream and Nord Stream 2 pipelines take the European energy crisis to another level.Analysts are worried that the leakages and explosions on both lines are not an incident but linked to the launch of the Baltic Pipe.A disruption of Norwegian energy supplies to the European Union or the UK could lead to faster depletion of natural gas storage facilities in Europe this winter.Taking economic warfare to a new level.OilpriceEuropean Energy Security Faces...