Mike Norman Economics

On this subject I’ve read rumours – and no more than that – that the Truss regime would like to separate the Treasury from Economic Affairs – as, similarly for a short time, in Harold Wilson’s administration…That would. I think, be rather a good idea.We’d have an economic plan.And then it would be up to the Treasury to deliver it.An economic plan rather than a money plan.Because money is of course, created by government at will, in order to get things done....It appears that governments may...

About the not-G7. Longish.Rich countries run the world economy. They are represented mainly by the G7 – the US, UK, Germany, France, Italy, Japan and Canada – and directly manage all major international bodies or greatly influence how these work. In the process, they set the terms for international trade and investment. Any country that disobeys their US-led ‘rules-based order’ is faced with sanctions, economic isolation and military threats. But the past six months has seen accelerating...

I won’t go further into the myriad of proposals coming from the UK government, the opposition Labour party and various think-tanks about how to relieve or avoid the catastrophe ahead for millions of households in Europe and particularly the UK. I won’t because there is one thing that they all have in common – there are no proposals to end the market for energy prices or to bring into common ownership the energy companies, retail, distribution and wholesale (the UK TUC proposes...

Yeah, I know. The Kagan Klan's Small Wars Journal. But occasionally they post a good read. This one is fun. Frank Herbert's Dune is featured.Small Wars JournalThe Man in the High Castle: Alternate Reality Lessons for Modern WarfightersTom Ordeman, Jr.https://smallwarsjournal.com/jrnl/art/atreides-harkonnen-literary-corollary-self-awareness-and-host-nation-perception-small-wars

Last Friday (September 3, 2022), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – September 2022 – which reported a total payroll employment rise of only 315,000 jobs (a major slowdown) and an official unemployment rate rose 0.2 points to 3.7 per cent. The participation rate also rose (somewhat reversing last month’s decline) and the broad labour underutilisation rate (U6) rose by 0.3 points, largely due to the rise in...

Sunday Sermon. Time for the red pill. Amen. Caitlin Johnstone reiterates a theme I have been harping on since I wrote an MA thesis on social and political philosophy in the early Seventies. The sine qua non of positive social change is raising the level of collective consciousness of humanity. The problem is with the foundations of the present world system. The level of collective consciousness must rise for humanity to create a system capable of addressing the emergent challenges. The...

Banks increasing deposit rates…Goldman’s online bank, known as Marcus, recently offered 1.7% annually on its savings account, up from 0.5% in April https://t.co/k9AIX2sSKf— The Wall Street Journal (@WSJ) September 4, 2022

After listening to their wormtongue advisors back in March, the West imposed financial sanctions on Russia. They promised that the “Rouble would turn to rubble”. However for anybody with an ounce of understanding of how floating rate sovereign currencies work, it was always going to have the opposite effect. I said this back in February….Nails it, as usual.New WaylandThe Madness of ClownsNeilWhttps://new-wayland.com/blog/madness-of-clowns/

Just kidding. Market commentary for today, Friday, Sep 2. 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/

You guessed it. MMT.Oh, well. It's Newsweek.NewsweekThe Greatest National Security Threat No One Is Talking About | OpinionBill Owens, retired admiral and former vice chairman of the Joint Chiefs of Staff, David M. Walker, former comptroller general of the United States. Along with Barry W. Poulson, they are founders of the Federal Fiscal Sustainability Foundation.