Mike Norman Economics

In a recent tweet Schiff says higher rates by the Fed will fuel inflation. This is a reversal of his long-held stance that low rates (i.e. "cheap money") fueled inflation.

You can watch in real time now as the deficit shrinks, and what that means.

Balance sheet operations are relevant only in how they affect the composition of dollar assets in the economy. Other than that, nothing.

First-of-month spending boosts flows. But full picture is still uncertain. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

Everything you wanted to know about Australia's external position.MacrocosmAustralia's Magical Balance of PaymentsPhilip Pilkingtonhttps://macrocosm.substack.com/p/australias-magical-balance-of-payments

What happens when you don't think things through and ask, what could go wrong? What is wrong with these people? What did they think was going to happen.Sputnik InternationalYou Snooze, You Lose: UK, US Media Fear Russia May ‘Outsmart’ EU With New Gas Mega Pipeline to Chinahttps://sputniknews.com/20220104/you-snooze-you-lose-uk-us-media-fear-russia-may-outsmart-eu-with-new-gas-mega-pipeline-to-china-1092014841.htmlSee alsoTASSUkraine may have to siphon off Russian gas from transit pipelines -...

Interest rate increases….Brazil Stocks Sink 12% in Year for First Annual Drop Since 2015#politics #brazil #BrazilianPolitics #economy https://t.co/FH6iDjidYU by @andradevini3 via @Bloomberg— All The Brazilian Politics (@AllBrPolitics) December 31, 2021

Imperialism as atavistic and imperialism as "normal capitalism"Global InequalitySchumpeter’s two theories of imperialismBranko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic Inequality, senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International...

Here is Part 2 of my analysis of the claim that Japan is not a good demonstration of what happens when macroeconomic policies are pushed beyond their usual limits. I have long argued that trying to apply a mainstream macroeconomics (New Keynesian) framework to the Japanese situation yields nonsensical predictions about rising interest rates, accelerating inflation, rising bond yields and government insolvency. Nothing like that scenario has emerged since Japan has introduced economic...

The Austrian economist Joseph Schumpeter believed that the triumph of socialism was inevitable, but he rejected the Marxist view of how capitalism works. His ideas are a stimulating challenge for those seeking an alternative to capitalism today....Schumpeter was Austrian by birth and associated with members of what became the Austrian School as a student of Eugen von Böhm-Bawerk at the University of Vienna, but he did not identify himself with any school of economics and considered himself...