Mike Norman Economics

Despite all the hysteria about the current inflationary pressures and the reversion of central bank policy committees to the New Keynesian norm – interest rates have to rise to kill of inflation otherwise it becomes a self-fulfilling process where wage demands are made in ‘expectation’ of more inflation and firms (passively in their view) have to pass on the higher unit costs, I remain of the view that this period is transitory. That doesnt win me any friends (other than my true friends). It...

Market back in bullish mode as I expected. August will be a powerful bullish advance. Monetarists are ripping their eyeballs out trying to understand. 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 CradleHow a missile in Kabul connects to a Speaker in TaipeiPepe Escobarhttps://thecradle.co/Article/Columns/13830Asia TimesWhy Pelosi’s Taiwan visit is so dangerousDavid P. Goldmanhttps://asiatimes.com/2022/08/why-pelosis-taiwan-visit-is-so-dangerous/Global Times (Chinese state-affiliated media)China's countermeasures against Pelosi's Taiwan visit won't be one-off: Global Times editorialhttps://www.globaltimes.cn/page/202208/1272069.shtmlCaitlinJohnstone.comThe US Military Was Just Used...

Although I like the title of my banking primer “Fractional Reserve Banking and its Discontents,” the problem is that I need to deal with some really loopy theories.The economist Robert Solow provided us with a very good quote regarding the dilemma of such discussions.Suppose someone sits down where you are sitting right now and announces to me that he is Napoleon Bonaparte. The last thing I want to do with him is to get involved in a technical discussion of cavalry tactics at the Battle of...

It’s Wednesday and I have a few items of interest (to me at least) to warm us up for the music feature, which is beautiful though sad. First up we learn how a senior Tory MP has made admissions to the media that completely contradict mainstream macroeconomics and validate what Modern Monetary Theory (MMT) tells us. Second, we learn from the latest ECB data just how ‘flexible’ (read: anything goes) it can be in its government funding. Italy and Spain are being rescued at present. As I said...

[embedded content]Scott Ritter - Biden, terrorism & foreign policyJudge Napolitano - Judging Freedomhttps://youtu.be/4-j4fhICWMs

Global companies from Apple to Intel and Tesla depend on Taiwan to produce smartphone and computer processors, and A.I. chips for autonomous driving. And Taiwan’s chip dominance is only growing stronger—chipmakers in the country are set to increase their global market share to 66% this year. That means that any Chinese move against Taiwan in retaliation for U.S. acknowledgement, and the resulting international fallout, would severely disrupt the global chip technology supply chain. Mark Liu,...

Dear friends Today I had the honor and immense pleasure to spend one hour talking to my friend Michael Hudson and I am happy to share this video with you. The Vineyard of the SakerThe Saker interviews Michael HudsonThe Saker (Andrei Raevsky)http://thesaker.is/the-saker-interviews-michael-hudson-6/

L. Randall Wray, professor of economics and senior scholar at Levy Economics Institute of Bard College, has won the 2022 Veblen-Commons Award. This award is the highest honor given annually by the Association for Evolutionary Economics (AFEE) in recognition of significant contributions to evolutionary institutional economics. Named after the founders of institutional economics, Thorstein Veblen (1857-1929) and John R. Commons (1862–1945), and awarded since 1969, the Veblen-Commons Award is...

[embedded content]Russia's New Doctrine-1Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues. Martyanov was born in Baku, USSR in 1963. He graduated from the Kirov Naval Red Banner Academy and served as an officer on the ships and staff position of Soviet Coast Guard through 1990. He took part in the events in the Caucasus which led to the collapse of the Soviet Union. In mid-1990s he moved to the United States where he currently works as Laboratory...