Mike Norman Economics

The CPI report in the United States was a horror show for Team Transitory. Although there were other areas with jumpy prices (e.g., food prices), I think that the housing component (above) is the part I am most concerned about in the near run....Bond Economics U.S. CPI: OuchBrian Romanchuk

It’s Wednesday and today we discuss the latest inflationary expectations data from the US, which tells me that my assessment that this episode will be a transitory phenomenon, diametric to the experience of the 1979s, was sound, despite the flack I have received over the last several months. The data is now showing consistent, cross-month declines in expected inflation and the latest CPI shows an easing of the general CPI pressure. AS the supply chains return to something like pre-pandemic...

Report not only on Russia  oping with sanctions by turning east but also the blistering growth of the Far East and the consequent shifting of wealth eastward.Sputnik International (Russian state-sponsored media)Western Sanctions Are Creating New, East-Tilting RussiaWang Wen | professor and executive dean of Chongyang Institute for Financial Studies at Renmin University of ChinaOriginally at Global Times (Chinese state-sponsored media)Also at SIIndia to Seek 'Loss and Damage' Compensation...

We're dealing with a psychology and belief system that views what's happening (monetary policy) as "terminal." (i.e. Death.) 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/

Import substitution.This bears on world trade. The present geopolitical situation is affecting the international flow of goods, including materials, intermediate goods and finished goods.  The world economy is heavily influenced by the level and quality of international trade. Sanctions, of course, inhibit international trade and result in new supply chains and also import substitution. Both Russia and China have adopted policies of self-sufficiency. Being large-scale with plenty of...

Rather to my surprise, John Glenn’s successor, Richard Fuller, has actually replied to my query on what were the “liquid assets” he originally claimed were ‘backing’ the physical cash issued in notes and coin! But circular reasoning, I’m afraid, seems to sum up Treasury thinking… The copy of the letter is below: Progressive PulseTreasury reasoning that is completely circular….Peter May

The MMTed edX MOOC – Modern Monetary Theory: Economics for the 21st Century – starts tomorrow and enrolments are open. The free, 4-week course will offer a range of learning modes – videos, written materials, interviews with many MMT people, and more. It is designed for the beginner and equips the participant with a broad array of information designed to develop economic literacy....Bill Mitchell – billy blogMMTed edX MOOC – Modern Monetary Theory: Economics for the 21st Century – starts...

Not really. However, inflation data to trigger the monetarists and that quarterly corporate tax payment I've been warning about. 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/

Last week, I joined David Westin on Bloomberg TV to talk about what the Federal Reserve and the European Central Bank (ECB) are doing to try to tame inflation. If you’ve been reading this newsletter for a while, then you know that I don’t subscribe to the conventional view that a series of aggressive and indiscriminate rate hikes is the right way to respond to our current bout of high inflation. Indeed, I’ve called it Bad Medicine. It comes with some nasty side effects, and there’s no...

Enrolments now open for the MMTed edX MOOCModern Monetary Theory: Economics for the 21st Century. The free, 4-week course starts on September 14, 2022. Videos, interviews with many MMT people, and more. Further Details:https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century