Mike Norman Economics

Media is pounding home the notions of a market and economic crash dut to renewed Treasury sales. It’s wrong!

"Capitalism" in the title of the post should be in quotes. Actual capitalism is highly efficient. The problem with it is that it favors capital and leads to social and political disruption. True capitalism is not practiced in the so-called capitalist world. Rather, the monopoly capitalism and financial capitalism that are dominant are centered on rent-seeking and rent extraction rather than on profitmaking from economic contribution based on the cycle of production, distribution, and...

Forget the naysayers, the maker is going higher.

Art degree moron fest finally over… Now let’s see what happens…President Joe Biden’s signature of legislation suspending the federal debt ceiling has given the Treasury Department the green light to resume net new debt issuance https://t.co/F7sKoSNIeq— Bloomberg Markets (@markets) June 4, 2023  Consensus is bearish on the imminent Art degree figure of speech “liquidity drain!”…Wall Street is warning markets aren't ready for a tsunami of Treasury issuance now that the debt-ceiling deal is...

The Cantillon Effect is the label applied to a process described in Richard Cantillon’s , «Essai sur la nature du commerce en général», published in 1755. (One English translation of the title is “An Essay on Economic Theory.”) The basic premise is that an initial inflow of money will raise prices as the original recipients of the money spend it, which will then raise other prices as the “new money” enters others’ hands.Bond Economics Primer: The Cantillon EffectBrian Romanchuk...

A day when the monetarist zombies should have been selling like crazy, they were running for cover.

-$16B per month net fiscal flow starting Aug 1st… more regressive fiscal policy on top of regressive interest rate policy… Brandon’s economic polls should take another hit…Student loan repayments are about to start again on August 1st, after 3 years of being able to skip without penalty.40 million people paying an average ~$393 per month each will be pulled from the economy in discretionary spending.Should be interesting to see how this plays… pic.twitter.com/MLYSX72IC6— Wall Street Silver...

June ‘22 CPI was 296 on a impulse increase due to Brandon’s Russia sanctions…  if we can get a May flat M/M then YoY is 296 to 303… 7/296 = 2.4% which is back to normal…Will this effect the Art degree morons thinking on their figure of speech “inflation!” ?Who knows with these deranged people…

Sorry to be late with this but I am still digging out from under the pile I accumulated while away.Short comment on the misinformed controversy swirling around the debt ceiling.New Wayland (28 May 2023)Sophistry or Shibboleth? - "Printing Money"NeilW

Some of us at MNE lived through this saga back then. No one could have expected what has come to pass since. Good article on the history and issues involved.IntelligencerThe Man Who Invented the Trillion-Dollar Coin [Carlos Mucha aka beowulf]. An Atlanta lawyer was just spitballing on a financial blog. He didn’t expect Washington to listen.Alex Carp