Mike Norman Economics

Using the swimming pool analogy for hte economy, the April tax haul was the equivalent of draining all the water (yes...real liquidity) out of the pool. Luckily, the drain is plugged and the water is flowing back in again, but it will take time to fill up. 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/

Moon of AlabamaUkraine's Forces Are Told To Hold The Line Where Russian Artillery Is Pulverizing Themhttps://www.moonofalabama.org/2022/05/ukraines-forces-are-told-to-hold-the-line-where-russian-artillery-is-pulverizing-them.htmlDances with BearsTHE LAST DITCH IS POLAND – RUSSIA’S PHASE-3 PLAN FOR WESTERN UKRAINEVlad Shlepchenko, introduced & translated by John Helmer, Moscowhttp://johnhelmer.net/the-last-ditch-is-poland-russias-phase-3-plan-for-western-ukraine/A Son of the New American...

The Biden Administration will purchase 60 million barrels of crude in Q3.CNN: Delivery of those first 60 million barrels would be paid for with revenue received from sales of emergency oil.The full process for replenishing the SPR will take years.OilpriceOil Prices Top $111 As Biden’s SPR Buyback Plan LeaksCharles Kennedy

Yves here. It’s gratifying to see Philip Pilkington, who wrote some fine pieces for this humble blog before landing at a major investment firm, back to writing articles for the general public. Here, with co-author Brett Palatiello, Pilkington takes on the old canard of the loanable funds theory and demonstrates that it’s irrelevant to setting of long-term interest rates. For those not familiar with it, the “loanable funds” theory stipulates that there is a pool of savings from which loans...

Yesterday, I commented on Tuesday’s RBA interest rate rise. I wasn’t complementary. In the last two days, more data has been released since the decision, which further suggests that the RBA erred. It also suggests that part of the housing problem everyone is focused on is not due to lax monetary policy, which is the mainstream mantra, but is, rather, due to flawed tax policy. So, we have seen housing loan demand in decline and building approvals plummetting in the last month, a sign that the...

You had to know this was coming…POWELL: 75 BPS INCREASES NOT SOMETHING CONSIDERING— *Walter Bloomberg (@DeItaone) May 4, 2022 IOR was adjusted to 0.9% with the policy rate increase yesterday …. if they soon did 2 increases of 0.75% each that would put IOR at 2.4% and 2.4% on the $6T of balances they owe the support rate on would create  a current liability of $144B annual and they currently only achieve about $110B of annual gross revenues…. They would become insolvent…Therefore can’t happen...

Alan Kohler speaks with one of the founders of modern monetary theory, Warren Mosler, to take us through 'the money story' and the origins of modern monetary theory, how it applies to the COVID-19 pandemic, and his own journey as a successful bond trader and fund manager, where he put into practise his ideas of modern monetary theory....Eureka Report'The money story' told by a father of MMTAlan...

Unintended consequences.European Union will be able to meet the targets for filling gas storage facilities only if two-thirds of the Russian gas only if industrial enterprises are disconnected from blue fuel in the spring and summer. This information was shared by the German magazine Der Spiegel.According to the model of the Jülich Research Center, such a scenario can only be realized if a “tough step” is implemented: the EU will need to limit gas supplies to industry in the spring and...

The power to decree what is "disinformation" now determines what can and cannot be discussed on the internet. It is now in the hands of trained disinformation agents of the U.S. Security State.Totalitarian. But you knew it was coming when the Internet provided an open forum. It was just a matter of time before the ruling elite established narrative control again. That process was obviously well along when a sitting president can be banned from the most influential social media...

Fed rate hike was totally baked in and meaningless. More important, the drag from April tax deposits is over. Recovery in economy and market on the way. 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/