Mike Norman Economics

It’s Wednesday and I have some comments to make about yesterday’s RBA decision (July 5, 2022) to continue increasing its interest rate – this time by 50 points – the third increase in as many months. If the rhetoric is accurate it will not the last rise by any means. In its – Statement by Philip Lowe, Governor: Monetary Policy Decision – the RBA noted that global factors were driving “much of the increase in inflation in Australia” but there were some domestic influences – like “strong...

Monetarists freaking out that their “Monetary Base!” has fallen over 20%…Aggghhhh! Welcome to the Global #liquidity cliff edge!Supply of all #USD Worldwide... including off-shore #Credit crunch ahead...@rbrtrmstrng @gnoble79 @leadlagreport pic.twitter.com/IYrazECWEf— CrossBorder Capital (@crossbordercap) July 5, 2022 But it looks like the increased transfer to the Fed’s new RRP facility subtracts from their “monetary base!” …. so now all these monetarist’s are freaking out that we’re going...

1945Russia’s Brutal War in the Donbas Proves Ukraine Can’t WinLt. Col. Daniel L. Davis (USA ret.), Senior Fellow and Military Expert for Defense Prioritieshttps://www.19fortyfive.com/2022/07/russias-brutal-war-in-the-donbas-proves-ukraine-cant-win/Business Insider (Jul 1, 2022)Former defense secretary James Mattis rips Putin's 'pathetic' military performance in Ukraine: 'We're watching Russia wither before our eyes' (copium?)...

[embedded content]Wunderwaffe Thinking – How US politicos think about war – Tom Clancy syndrome and mathAndrei 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...

Market bounced as I told you it would. Meanwhile, heavy speculative liquidation of gold and oil. 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/

One WorldA Key Russian Policy Influencer Confirmed The New Worldview Of His Country’s Elite (Important. A key part of the Western plan is the overthrow of Putin and his government by the Western-oriented elite. Dmitry Trenin, formerly such a person, says to forget about that. Russia has put the West behind it and is now orienting to the Global South as the global future. Western-led globalism is dead. The other alternative to overthrowing Putin was the oligarchs, until that fizzled. The...

Asia TimesUkraine – the situation (July 5, 2022)Uwe Parparthttps://asiatimes.com/2022/07/ukraine-the-situation-july-4-2022/A Son of the New American RevolutionLysychansk Bites the dustLarry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations...

A few years ago, various policy makers, but mostly central bankers were keen to disabuse anyone of the notion that they were ‘doing’ Modern Monetary Theory (MMT). Some were aggressive in denial, such as US Federal Reserve boss Jerome Powell, who on February 26, 2019 announced to the US Senate Banking Committee that MMT was ‘just wrong’. There was a general pile on from other central bankers and commentators. No way, they were doing MMT. Okay, they were right, one doesn’t ‘do’ MMT, given it...

An appropriate American Independence Day message from Caitlin, even though she is Australian.I would add that American philosopher John Dewey explored the requirements for successful democracy, the chief necessity being an informed electorate, which requires an adequate educational system for citizenship.  A good place to start is Dewey's Democracy and Education.This discussion began in the West in ancient Greece, where a fundamental question was, "What does it mean to life a good life in a...

This post was picked up and reposted by the Wall Street Journal.It is interesting that Connor Morrell concedes the truth of the MMT claims about fiscal sustainability. His objection is that it leads to excesses that result in eventual contraction to purge the system.Short and to the point.Mises Wire — Mises InstituteWar Spending Gives MMTers and the Left a Strong Talking PointConnor Mortellhttps://mises.org/wire/war-spending-gives-mmters-and-left-strong-talking-point