Mike Norman Economics

This time, despite all previous episodes of brinkmanship, will Congress allow it to destroy the economy out of pure ignorance and pathological ideology? Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

 Video and transcript.RADHIKA DESAI: Hi everyone. Welcome to the fifth Geopolitical Economy Hour, the fortnightly show about the political and geopolitical economy of our times. I’m Radhika Desai.MICHAEL HUDSON: And I’m Michael Hudson.RADHIKA DESAI: So this is our third and final show on the theme of de-dollarization, based on our work, particularly on Geopolitical Economy that I wrote in 2013 and Super Imperialism that Michael wrote some decades ago and has recently reissued.Based on my...

 In this article, I am going to give a basic introduction to insolvency (bankruptcy), as well as a discussion of the principles of how losses are apportioned to the various classes of creditors of American banks. I will only attempt to look at American banks since bankruptcy procedures are specific to each legal jurisdiction. Although I was not a credit analyst, I worked with them and had some training on the topic. The article “U.S. Corporate and Bank Insolvency Regimes: An Economic...

Well, everybody is freaking out about a so-called crisis in the banking system. The extraordinary increase in fiscal flows is a powerful buttress to the economy and the financial system.

Nice figure of speech “injected!”… wow…They are referring to the $2T of reserve balances currently in the RRP… why are they in that Fed account and not in Depository accounts where they could be utilized to settle unanticipated withdrawals without requiring sales of other HQLA at current reduced prices due to the dumb monetarists rate increases?Why did the dumb Art degree people at the Fed reduce the RRR from 10% to 0% in the first place?What is bad about requiring Depositories to maintain a...

Gov't is about to pump over $8T into the economy via interest income transfers, and the Fed will be GIVING banks $300 bln/yr in new capital. Is this really panic worthy? Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

Video and transcript.Geopolitical Economy Reportby  Why 3 US banks collapsed in 1 week: Economist Michael Hudson explains Ben Norton interviews Michael Hudson (on his 84th birthday)

A market valuation problem is not a fraud problem this time around. Michale Hudson explains the big difference between this crisis and 2008. Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Mechanics of a Bond Market and its Impact on the Banking CrisisMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas...

The transitory view of the current inflation episode is getting more support from the evidence. Yesterday’s US inflation data from the Bureau of Labor Statistics (March 14, 2023) – Consumer Price Index Summary – February 2023 – shows a further significant drop in the inflation rate as some of the key supply-side drivers abate. All the data is pointing to the fact that the US Federal Reserve’s logic is deeply flawed and not fit for purpose. Today, I also discuss the stupidity that is about to...

Let’s get the up-or-down part of this review over with quickly: Escape from Model Land: How Mathematical Models Can Lead Us Astray and What We Can Do About It by Erica Thompson is a poorly written, mostly vacuous rumination on mathematical modeling, and you would do well to ignore it.Now that that’s done, we can get on with the interesting aspect of this book, its adaptation of trendy radical subjectivism for the world of modeling and empirical analysis....While I have not read the work that...