Mike Norman Economics

I saw that leading spending flows last week $200 billion. That’s why. 

Last Friday (August 4, 2023), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – July 2023 – indicated a rather ‘steady as she goes’ outcome. A slightly weaker employment outlook compared to the beginning of 2023 but overall a very stable situation. There is no sign of recession and no sign that the misguided Federal Reserve interest rate rises are causing rises in unemployment. More evidence that monetary policy is not an...

RADHIKA DESAI: Hello everyone and welcome to the [15th] Geopolitical Economy Hour, a program that discusses the political and geopolitical economy of our time. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson.RADHIKA DESAI: And today we have once again Pepe Escobar, roving reporter extraordinaire. Welcome, Pepe. PEPE ESCOBAR: Thank you. It’s an enormous pleasure to be with you guys again. RADHIKA DESAI: And today we are going to continue the discussion we started in the last...

Interesting paper on gold and its use in trade early in history.AcademiaEarly intimations of international gold standard in Indus Script CorporaSrini Kalyanaraman, Researcher of Sarasvati Civilization

Fiscal, Frying Pan, Fed, and Fitch.The LensWeek in Review: Four Fabulous and Not-So-Fabulous F-WordsStephanie 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

UK specific but the MMT principles involved hold for the general case.New WaylandCutting Borrowing Costs Made Simple: End Interest PaymentsNeilW

Fiscal flows have peaked. Defensive period coming for the market.

Russia confirms Brazil's preference for using national currencies instead of USD rather than launching a new currency with all the complications and uncertainties that such a project involves. It's over for now.RT — Question More (Russian state-sponsored media)Kremlin pours cold water on BRICS single currency speculation

Quotes MMT economists including Mike Norman. Short and on point.ForbesShould We Downgrade Fitch Or The USA? - ForbesJohn T. Harvey | Professor of Economics, Texas Christian University

Market will be under pressure until November.