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Mike Norman Economics

Market rebounds, as I said. Positive fiscal flow. What’s ahead?

Like I said, in the lead up to today's action, large first-of-month gov't disbursement would boost stocks. Rally should continue into early next week, then slowing fiscal should create a pullback. 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/

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Why FDR’s Fed Chair Opposed His Plan to Expand Social Security — Stephanie Kelton

The Fed chair at the time was held by Marriner Eccles, who understood government monetary and fiscal operations. That has since been forgotten, ignored, or suppressed.The LensWhy FDR's Fed Chair Opposed His Plan to Expand Social SecurityStephanie 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...

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Ukraine Is the Latest Neocon Disaster — Jeffrey D. Sachs

The war in Ukraine is the culmination of a 30-year project of the American neoconservative movement. The Biden administration is packed with the same neocons who championed the U.S. wars of choice in Serbia (1999), Afghanistan (2001), Iraq (2003), Syria (2011), Libya (2011), and who did so much to provoke Russia’s invasion of Ukraine. The neocon track record is one of unmitigated disaster, yet Biden has staffed his team with neocons. As a result, Biden is steering Ukraine, the U.S. and the...

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SCOTUS limits EPA

Another W yesterday that’s going to help…How can a Supreme Court Justice be so damn stupid?We're screwed if she actually believes this. Better tell her liberal friends to stop buying beach houses.Justice Kagan warns parts of East Coast could be 'swallowed by the ocean' in dissent in EPA case https://t.co/WqQx6fKeTc— Gary Peterson (@petersongb56) July 1, 2022

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Links — 30 June 2022 Part 2

CaitlinJohnstone.comMike Pompeo’s Revealing Hudson Institute SpeechCaitlin Johnstonehttps://caitlinjohnstone.com/2022/06/30/mike-pompeos-revealing-hudson-institute-speech/Moon of AlabamaNo, NATO Will Not Get Ready For Warhttps://www.moonofalabama.org/2022/06/no-nato-will-not-get-ready-for-war.htmlRussian and Eurasian PoliticsAvoiding a Russian Quagmire, the Improbable Ukrainian Peace, and the Risk of Direct Russo-NATO WarGordon M. Hahn | Expert Analyst at Corr Analytics,...

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Bond yields coming down as economic recession takes hold.

Atlanta Fed now forecasts negative second quarter GDP growth. Bond yields coming down. 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/

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What FDR and Two Former Fed Chairs Understood About Social Security — Stephanie Kelton

It’s a shame more people don’t understand that the entire debate over “solvency” is rooted in a flawed understanding of our monetary system and the mechanics of government finance....he LensWhat FDR and Two Former Fed Chairs Understood About Social SecurityStephanie 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...

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The West’s self-defeating sanctions — Philip Pilkington

 Philip Pilkington makes the point that any competent economist or financial type would have been able to see why imposition of sanctions was insane and their effect would be opposite to that intended.Now that the policy has been adopted, it is impossible to back down without looking foolish, even though this policy is destroying Western economies and undermining the objective for which it was imposed — preservation of the unipolar order that emerged upon the collapse of the...

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