Mike Norman Economics

Contrary to what we were taught in the graduate schools of half-a-century ago (the heyday of monetarism), monetary policy now typically means setting or influencing the interest rate that commercial banks pay on loans of central bank base money in the overnight market — the policy rate. What I mean by the ‘real’ policy rate is the nominal policy rate (the actual percentage rate quoted) less the currently observed rate of inflation. Such a zero real policy rate (ZRPR) will achieve as close an...

Another figure of speech just what we needed…. anyway the change in this US price index just hit a new 52 week low…BOE is 7 points below this increase in the UK… the Fed would have to be at  -5% …S&P would probably be somewhere over 10,000 ….Instead Brandon has his Fed 3 points above and the psychos are threatening EVEN MORE … 🤔Today's CPI Data by Truflation. 🇺🇸2.11% 🇬🇧11.35% Analysis: https://t.co/FiManHJxUI pic.twitter.com/8jr3r9mnrh— Truflation (@truflation) July 14, 2023...

In response to a report by the UK Office of Budget Responsibility1 UK Journalist Robert Peston tweeted the following opinion:So the obsession of Hunt and Sunak with defeating inflation is understandable - because in the absence of any significant fall in inflation, there is a risk that investors will shun UK government debt and interest rates for the government and for all of us would then rise to crippling levels. This parlous debt backdrop explains why the Bank of England and the Treasury...

If Trump is able to get back in the first thing he’s going to do is tell his Tsy/Fed to reduce interest rates substantially… just like Brandon told his Tsy/Fed to rapidly increase rates in unprecedented fashion…"In the Biden economy, one third of Gen Z and millennials have no savings accounts and no savings whatsoever," Trump said during the Turning Point USA Action Conference in West Palm Beach, Florida. "They have nothing. Homeownership has been pushed out of reach for millions with the...

The economics of neoliberalism and financialization versus the economics of Putin and XI. Who wins?Alastair Crooke likely benefits here since he is not a trained economist.Strategic Culture Foundation (sanctioned by the US Treasury Department)A Tale of Two CitiesAlastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy

They are all hiding because their ignorance has been put on display big-time. 

Musk understands stock market investing very well, but completely has no clue about MMT and sovereign currency.

Yesterday’s US inflation data from the Bureau of Labor Statistics (July 12, 2023) – Consumer Price Index Summary – June 2023 – shows a further significant drop in the inflation rate as some of the key supply-side drivers continue to abate. The annual inflation rate is now back to 3 per cent and dropping fast. The risk now is that the conduct of the Federal Reserve will drive the US into a deflationary period with rising unemployment. Given that inflation peaked in the third-quarter 2022,...

Now that CPI/PPI are collapsing YoY the GOP is just going to pound Brandon on the Art degree moron figure of speech "inflation!"  based on price comparisons from when he took over in Jan 2021....   easy peasy…We now have to watch how the Biden people respond to this political attack...  from a Biden people perspective they may still think they have a figure of speech “inflation!” problem… tell their Fed people  to keep increasing the risk free rate to fight their figure of speech...

Trial stage involving "super SIM cards."ECNS (Chinese official English news service)Digital yuan ushers in new payment method with rollout of SIM card integrationGlobal Times