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Mike Norman Economics

Links — 12 May 2022 Part 1

The Vineyard of the SakerTwo months of Operation ZLjubiša Malenica for the Saker Bloghttp://thesaker.is/two-months-of-operation-z/A Son of the New American RevolutionUkrainian Snake Eaters Get A Russian Snake Bite and Other War ReportsLarry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism...

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Bill Mitchell — US inflation is moderating while a massive fiscal contraction is underway – recession looming

Yesterday (May 11, 2022), the US Bureau of Labor Statistics released the latest – Consumer Price Index Summary – April 2022 – which showed the monthly increase in the CPI to be 0.3 per cent, the lowest monthly increase since August 2021 and, as it happens, just about right on the average monthly growth rate from January 1947 and April 2022. The result suggests a tapering of price pressures. The Energy component fell by 2.7 per cent in April after spiking at 11 per cent in March. Further, the...

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Fed officials face pressure for more aggressive policy action

Fed taking a lot of shit for not being more “hawkish!” on Art Degree economoron figure of speech “inflation!”…. Meanwhile Fed probably very limited on ability for rate increases due to short term IOR liabilities …  if I were Fed and I had to throw the Biden people a bone today I would just say I was going to move up the QT instead of accelerating rate increases…But maybe Fed can’t do that either because they have already planned for a definitive redemption schedule of their govt securities...

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Links — 11 May 2022 Part 1

Moon of AlabamaUkraine - Congress Passes The Bucks, Realism Sneaks In, Poland Plans For More War (Must-read!)https://www.moonofalabama.org/2022/05/ukraine-congress-passes-the-bucks-realism-sneaks-in-poland-plans-for-more-war.htmlThe Vineyard of the SakerSitrep Operation Z – Where are we? (extensive report)The Saker Staffhttp://thesaker.is/sitrep-operation-z-where-are-we/India PunchlineEU stumbles over Russian oil slickM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and...

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US Housing Component Of CPI Not Letting Up — Brian Romanchuk

Unless I was interested in short-term breakevens, I viewed the consumer price index (CPI) as a lagging indicator and therefore not too exciting. As such, I am not as enthusiastic as other commentators with regards to reading the entrails of the CPI report. My interest was more in the underlying trends, and what we would expect to change. The problem with the U.S. CPI is that one of the most important “underlying” factors is housing — and the housing component has taken off like a...

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Bill Mitchell — With corporate profits booming, business can afford to pay higher wages

Last week, I provided a graph in this blog post – The Left/Right distinction is as relevant as ever as corporations gouge profits out of pushing inflation (May 2, 2022) – which showed negotiated wages growth in Europe was declining and real negotiated wages had fallen sharply over the last several months. I am continually on the lookout for evidence that the current inflationary episode, no matter how alarming, is not being driven by structural forces in the labour market even though...

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Sleepwalking Into Disaster: How US Establishment Lost Fear of Escalating Ukraine Crisis — Interviewing Vladimir Golstein

Censorship betrays weakness.As is the case with all sorts of censorship, political in particular, it reveals the weakness of the censoring side.Replaying the lead-up to WWI.There is a well-known book by Christopher Clark on the history of the First World War called 'The Sleepwalkers: How Europe Went to War in 1914'. That’s exactly what we are facing now: sleepwalking politicians….Prof. Goldstein also outlines the no-so-hidden agenda.Unfortunately, militarism remains a very powerful magnet...

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