Mike Norman Economics

Sullivan's whole speech is an argument against free markets and for protectionism and sector subsidies. It does away with the economic framework the U.S. had build after the end of the second world war. This is supposed to be replaced it with bilateral and block wise agreements that are to the advantage of the U.S., to the disadvantage of its agreement 'partners' and which exclude China and other 'hostile' economies....How the worm turns. End of an era.Moon of AlabamaHuawei Chips Demonstrate...

Documentary on MMT.The LensMMT the Movie: Coming to a Festival Near YouStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

Interviews with video and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismBRICS Keep BuildingHigh Finance & Investment ColonialismMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

I said down. Basically flat. But we’ll see going forward.

Market rallied after last week’s selloff. Cyclical peak approaching.

I can’t help you if you don’t want to help yourself.

Only if the BOC reacts by making the same reification error as the Fed did and adds bazillions of reserve balances “to lend out!”….China’s Lehman moment is today with Evergrande down 90%.If that follows the 2008 contagion path, markets collapse within 3-4 weeks.— Endless Capital w/ no pullbacks (@endless_frank) August 28, 2023

Investor (bad) behavior was SO on display!

Curiously to me, Stephanie does not mention the role of raising the interest rates as potentially contributing to inflation when Mike, Warren, and Bill have been doing so for some time.The LensReactions to Fed Chair Powell's SpeechStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

More fiscal support coming next week but a rocky road ahead after that.