Mike Norman Economics

BloombergOdd Lots Podcast: Warren Mosler Says US Is Spending Too MuchMAEIL BUSINESS NEWSPAPER Korea's No. 1 Economic MediaWarren Mosler warns of snowball U.S. fiscal deficit "There's no guarantee that high interest rates will bring down inflation".Yoon Wan SupMachine Translation

That’s Citigroup’s forecast, and it could happen. 

Stocks will follow the economy. Be patient, and there were things to buy today. 

Here is a short video about our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure – which will be published on July 15, 2024.William Mitchell — Modern Monetary TheoryModern Monetary Theory: Bill and Warren’s Excellent Adventure – PromoBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Is the market on the verge of another big advance?

Still have to watch net government transfers. If they keep falling, economic growth may go flat. 

 Back in April, the Atlanta Fed's first GDP forecast for Q2 was 4.2%. I said that was ridiculous based on the year-over-year drop in net government transfers. I said they would have to revise that lower, probably equal to Q1 GDP of 1.6% if that. And sure enough, they did...FIVE TIMES, until they got it down to 1.5%-1.6%.Then, because of one strong retail sales report in May, they boosted it back up to 3.2%. Once again, I said they'd have to bring that down because the year-over-year drop in...

Classic topping action when economic growth is slowing. 

A picture is worth 1000 words and that certainly true here. 

Dems doubling down on their current moron monetarist thesis that a plurality of voters will prefer the current regressive high interest rate policy over some other less regressive Trump fiscal/monetary policy…Sixteen of the world's most notable economists — all Nobel Prize winners — are warning that former President Donald Trump could stoke inflation if he wins the presidency in November and moves forward with his economic plans. https://t.co/JRbXTuje2F— CBS News (@CBSNews) June 26, 2024...