Mike Norman Economics

It should be obvious to just about anyone by now that transnational capitalism cannot survive in its present form if humanity is to survive. The amount of negative externality that is not priced in is too great. Markets are not a mechanism that delivers accurate economic calculation, contrary to what Hayek argued in his Nobel Prize Lecture (1974), and is now widely accepted as received wisdom. Valuation is biased by failing to consider true cost and reliance on this is leading to more...

The macro numbers just don't add up. I think a lot of this is hysteria and unnecessary contagion. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

What is missing from the debates over monetary policy today is the understanding that the Fed was not established to control inflation. It was created to prevent financial crises by acting as a lender of last resort in times of distress. Indeed, that’s exactly what the Fed is doing now — opening up its lending facilities to banks in need. But rather than focus on maintaining financial stability, the Fed has become obsessed with controlling inflation, something it cannot really do without...

I. PreambleIn 2022, the vicious cycle of democratic pretensions, dysfunctional politics and a divided society continued in the United States. Problems such as money politics, identity politics, social rifts, and the gulf between the rich and poor worsened. The maladies afflicting American democracy deeply infected the cells of US politics and society, and further revealed US governance failure and institutional defects.Despite mounting problems at home, the US continued to behave with a...

People read much into the implications of currency swaps that is not there. Much ado about nothing. Brian explains why in terms that are simple to understand.Why swaps?You either have capital controls, or you have central banks acting as swap dealers of the last resort, or you have periodic meltdowns of the currency system. Pick your poison.Bond Economics Currency Swap Facility CommentBrian Romanchuk

Some numbers (nominal and adjusted). Short.A Son of the New American RevolutionGDP Data ConfusionGuest Post by Observer R

The details of a shotgun marriage between UBS and Credit Suisse arranged by Swiss regulators have been leaking out. Credit Suisse has been plagued by problems, and one might hope that this act would finally clear them up. The concern I am seeing at the time of writing is the risk of contagion.As an aside, we can tell this is a bit of a crisis by my posting frequency.…Bond EconomicsBank Capital Contagion CommentBrian Romanchuk

Watch this 'til the end. You will learn a lot. Other sites/videos Books: The Day Trader: From the Pit to the PC. https://www.amazon.com/Day-Trader-Pit-PC/dp/0471401617 Tastylive.com Sold! The Lewis Borsellino story. https://www.tastylive.com/shows/sold-the-lewis-borsellino-story

GOP Speaker finally makes statement during banking system crisis and it’s a post of a old Milton Friedman video…Reminder: inflation is made in Washington from too much government spending.It was true when Jimmy Carter was president in 1978, and it's true today. pic.twitter.com/Vq7cJ1tw5x— Kevin McCarthy (@SpeakerMcCarthy) March 16, 2023 Biden people I’m afraid are on their own in trying to fix their own monetarist mess… better not be thinking Congress is  going to help them…