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Home / Video / This better be the reason for ongoing weakness.

This better be the reason for ongoing weakness.

Summary:
Probably related to September 15 corporate tax payment. If not, then even steeper decline ahead. 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/

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Probably related to September 15 corporate tax payment. If not, then even steeper decline ahead.



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/
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

22 comments

  1. Just be glad the decline was less than 1%

  2. Fiscal flows, fiscal flows, bla bla bla. Mike talks about the monetarist zombies but he's a fiscal flow zombie. Fundamentals don't matter I guess. What about sentiment? Nah who cares. Fiscal flows….they printin money!

    • Mike Norman MMT Economics

      That is fundamentals you fucking moron. Get lost.

    • @Mike Norman MMT Economics hey donk, that's one relatively tiny data point amongst dozens or hundreds that you base your entire investment thesis on. Fiscal flow Zombie. They printin fiscal flows man!

  3. That graph tells us that somebody knows that Germany plans to buy Russian gas again.. it's inevitable really

    • What happens if they don't sell it?

    • @superarsenal009 they will. Money talks. The interesting thing will be the diplomacy and the rationalisation presented to the public. They'll have to get some kind of concession from Putin wrt Ukraine but will probably be something trivial

  4. Mike u got Bloomberg terminals , u ballin' bro 👍👍

  5. Mike, thank you for putting this info out here for us, but I don't entirely follow your fiscal flows calculations. In looking at the daily TGA info, I see total deposits and total withdrawals for this month. The difference of these numbers indicates to me either generalized deficit spending or spending surplus. The market seems to have reacted negatively when the deposits moved to outweigh the withdrawals. I don't see 200+ billion of deficit spending by 8/30……I see 8 billion surplus. Am I seeing this wrong?

  6. Mike, Iran nuclear deal is done even though it is not publicized. If true Iran will pump several million barrels of oil daily to market. That is why oils prices are down

  7. Kino Casino VIP Fanboy

    Mike, I'm not an expert so please correct me where I'm wrong.
    But wouldn't the last week's dump on Stock Market be caused by the DXY rally? There has been a literal bloodbath on FOREX these days and all the currencies other than USD are crashing. Which would make sense for any asset trading against that stronger dollar to tank as well.

    Now the question is… is that (if I'm seeing it right) in conflict with what you said about pricing in the corporate tax drain or is this in a way part of it?

    Would love to hear your take on this DXY situation.

    Thanks and best regards!

  8. Please keep making videos. I get info from you i do NOT get anywhere else.

  9. If thenbrakes get pumped, then it's fine.

  10. Mikey Mikey Mikey. It’s technical and although your analysis is relevant that’s why I watch you. Check out the Maverick of Wall Street you’ll be entertained and enlightened. Combine everything to get it right.

  11. M. is assuming B.A.U..
    However?
    "The crisis now unfolding, however, is entirely different to the 1970s in one crucial respect… The 1970s crisis was largely artificial. When all is said and done, the oil shock was nothing more than the emerging OPEC cartel asserting its newfound leverage following the peak of continental US oil production. There was no shortage of oil any more than the three-day-week had been caused by coal shortages. What they did, perhaps, give us a glimpse of was what might happen in the event that our economies depleted our fossil fuel reserves before we had found a more versatile and energy-dense alternative. . . . That system has been on the life-support of quantitative easing and near zero interest rates ever since. Indeed, so perilous a state has the system been in since 2008, it was essential that the people who claim to be our leaders avoid doing anything so foolish as to lockdown the economy or launch an undeclared economic war on one of the world’s biggest commodity exporters . . .

    And this is why the crisis we are beginning to experience will make the 1970s look like a golden age of peace and tranquility. . . . The sad reality though, is that our leaders – at least within the western empire – have bought into a vision of the future which cannot work without some new and yet-to-be-discovered high-density energy source (which rules out all of the so-called green technologies whose main purpose is to concentrate relatively weak and diffuse energy sources). . . . Even as we struggle to reimagine the 1970s in an attempt to understand the current situation, the only people on Earth today who can even begin to imagine the economic and social horrors that await western populations are the survivors of the 1980s famine in Ethiopia, the hyperinflation in 1990s Zimbabwe, or, ironically, the Russians who survived the collapse of the Soviet Union."

    https://consciousnessofsheep.co.uk/2022/07/01/bigger-than-you-can-imagine/

  12. "Probably related to September 15 corporate tax payment. "
    'They' follow your MMT analysis?

  13. Always awesome work Mike!

  14. Very informative video!

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