Mike Norman Economics

Investors panic over taper and rate hikes, but other factors suggest the economy will weather the storm and be okay.

AntiWarBreathe Easier: Blinken, Lavrov Meet Friday Ray McGovernhttps://original.antiwar.com/mcgovern/2022/01/19/breathe-easier-blinken-lavrov-meet-friday/Gilbert DoctorowAnthony Blinken and the Intellectual Bankruptcy of the Biden AdministrationGilbert Doctorowhttps://gilbertdoctorow.com/2022/01/20/anthony-blinken-and-the-intellectual-bankruptcy-of-the-biden-administration/Asia Times (jumping the shark)NYT equates China’s health workers with Adolf EichmannJohn V Walsh, until recently a...

Lays the problem 100% at the feet of the Fed to solve… which means periodic rate increases and a monthly reduction of system Reserve balances “to lend out!”…. ie textbook monetarism 101…Supposed to kick off in March… fewer rate increases with more reserve reduction this year would result in the most financially favorable trade off between these two Fed policy parameters…Biden said it’s the Federal Reserve’s job to rein in the fastest pace of inflation in decades, and backed the central...

Epigenetics is the key, where the way our genes express themselves is heavily influenced by the environment. Poverty deeply affects how children develop. Neoliberalism can stress many families because of the long hours put in by the parents and the low pay which creates financial difficulties. [embedded content]https://youtu.be/LWixXFB9l6c

Michael Shellenberger wrote the book, Fransicko: Why Progressives Ruin Cities, where he blames wokism and progressive politics for the homeless and drug problems in some US cities, like San Francisco. You may have seen the video I put out here about the homelessness in San Francisco which was truly shocking.Michael Shellenberger says he's a liberal, not a progressive, who he sees as very left. Like many people on the right, he blames the individual rather than society for the drug addiction,...

 China is risking its economy to save lives.China's zero covid policy. [embedded content]https://youtu.be/NxEDHUBnQZw

The Australian Bureau of Statistics released the latest labour force data today (January 20, 2022) – Labour Force, Australia – for December 2021. The situation is this: most states have now abandoned Covid restrictions. The December survey was taken a few weeks after the ‘opening up’ and before Omicron got settled at parties, events, restaurants and wherever else it is lurking. Infections are now very high but the data only captures the opening up effect (with some Omicron impact)....

A $3T deficit has rapidly shrunk to a near surplus, and with it, the financial balances of the non-government are being drained rapidly.

Light day for links.CaitlinJohnstone.comThe US Empire Is More Dangerous Than Ever Before: Notes From The Edge Of The Narrative MatrixCaitlin Johnstonehttps://caitlinjohnstone.com/2022/01/19/the-us-empire-is-more-dangerous-than-ever-before-notes-from-the-edge-of-the-narrative-matrix/TASSDelaying Nord Stream 2 hurts Europe’s economic development, warns Kremlinhttps://tass.com/economy/1390275EU Observer — OpinionEven without war, Russia has defeated Europe alreadyJonathan...

Compounding the trends, China’s GDP per capita has reached $12,551, crucially above the notorious “middle income trap”; above the global average GDP per capita; and now entering “high-income country” territory, as defined by the World Bank....Note that while Pepe Escobar is a good geopolitical analyst that provides a lot of information, he is out of paradigm with MMT regarding economics, but so is just about everyone. Strategic Culture FoundationMr. Xi plays Davos ManPepe...