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Deficit over $1T, high for year. $500 bln has been added. Bullish.

Summary:
Deficit is at a new high for the fiscal year at .024T. Over 0 bln has been added to the financial balances of the non-gov't since the end of April. This is what's been driving stocks and helping the economy.

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Deficit is at a new high for the fiscal year at $1.024T. Over $500 bln has been added to the financial balances of the non-gov't since the end of April. This is what's been driving stocks and helping the economy.
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.

12 comments

  1. Have a good weekend, Mike

  2. Your haters been suspiciously absent the last few weeks.

  3. You're the best Mike! Looking forward to Monday's MMT Report as always!

  4. Have a great weekend!

  5. Mike is locked in on the stock market. Impressive.

  6. Great insights Mike

  7. Who are the they, and who is bearish when there is a $100 trillion in equity ownership, are you pointing to the same 10 people who are on recycled on CNBC and BBG everyday, is this the sample of the they that always seem bearish even at the highs. The jump is equity is all cash change and is volatile?

  8. I have made so much money lately Mike, its not even funny!! When everyone else was full FUD, we remained optimistic and bought the dips, and Mike , you were DEAD ON ….
    Great stuff as always Mike.

  9. The thing I really like Mike is his absolute confidence in his system. Keep it going on Mike, be strong always, you have really destroyed fake guru and experts, the big bears like Jim Roger, Rober Kyosaki, Harry Dent…you don't know how much money they make other investors lost just because of the permanent bearish statements.

  10. You called this Rally in June. You were correct again.

  11. Mike, completely agree with you – YOU GIVING US DIAMONDS! Thank you so so much!

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