by Summary:
Steaks with some mental game.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Steaks with some mental game.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform
Mike Norman writes Oh no…Eva Langoria leaving the U.S.!!!
Merijn T. Knibbe writes Argentina bucks the trend. Vitamin A deficiencies are increasing
Mike Norman writes Wishful Thinking
| Steaks with some mental game. |
Nice hearing from you on the weekend Mike
Trinity to Neo, from the movie the Matrix:
It's the question, Neo. It's the question that drives us. It's the question that brought you here.
vaw.fyi
marvelous
vaw.fyi
spiffing
Mike smoking the meats like Mark Zuckerberg
Wile E. Coyote grin 😀
These weekend videos, you can tell what's coming when Mike smiles like the cat that just ate the canary 🙂
All of these fiscal conservatives who are fighting against the raising of the debt ceiling are going to be very sorry if they get what they wish for. They will wind up destroying that which they think they are fighting to protect. I guess their thinking is still based upon the long gone gold standard that used to exist here. Maybe it is a simple as… if there is enough productivity in the economy (enough production of needed and wanted products and services, and people with the money to purchase them), and if there are people/institutions with cash that want to park it/save it in US treasuries, then the gov following a fiscal policy of creating and spending more money into the economy would be a good and expansive thing? Do I have this right?
Stay Awesome ?
Are those New York strips, Mike?
Michael, which asset class' prices are you seeing dropping?
Consumables, which packed amounts decline?
Real estate?
Or perhaps you refer to the truly fake financialized assets?
If central banks keep increasing their balances, it increases the amount of currency, and they can do it to larger extents than they do, as you know and preach.
Central banks buying "assets" from reserve accounts reduces one kind of asset while increasing another.
What you said about increasing currency or the money supply would make more sense if banks loaned reserves, but Reserve balances are for overnight interbank settlement of checks and payments. Those are not loaned out to businesses or home buyers. They never leave the Fed's spreadsheet, other than tax payments back to the government, or Fed intervening in the opposite way selling Treasuries instead of buying Treasuries.
Banks create credit, when customers sign legal agreements. The "source" of loans isn't Reserves, it's the new loan contracts signed by customers.
@dilbertgeg What I wrote is not about lending capacity either way, it is simply about currency quantity.
Buying any sort of "asset" while increasing another type of an asset, which happens to be currency, happens to increase the amount of currency.
Mike, great to see you and yours enjoying some well deserved liberty time!!! HOORAH!
There is hypocrisy in many things where intelligent men are operating. For example, man has deemed murder of other men a crime, yet he murders other species for food even when he doesn't need too. How is man able to separate one life from another. Doesn't the Sun shine equally for all things on this planet? Politics, justice, monetary and fiscal policies, religion, etc is full of hypocrisy. Maybe the lesson is to stay away from hypocritical people and philosophies because by definition they are conflicted, cognitively biased, indefensible, untenable, and likely doomed to fail.
I thought Mike is a vegetarian/Vegan since he seems to care so much about body and soul.
I think part of the inflation hysteria comes from analysis using the past understanding of "what drives the economy". (The words Mike uses beautifully).
Then, they used gold standard. Today, it is all about fit currency and available resources that drive it.
In the old days, inflation is directly related to money supply per conversion regardless of the real resources.
But not today, so the economy is determined by fiscal, external sector and domestic consumptions/spending in relations to the real resources available.
In this scenario, there are still plenty of room but little ideas or imagination.
Look at China and how they become the second largest economy – just pure fiat currency system and brain power – progressive policies!
Many influencial people in many countries especially those on television don't get it, or seems to not want to learn or change that dysfunction framework that they have in their minds.
So suffer on we must endure.
But there are exceptions in a way, when push come to shove, your government (US) doesn't really follow this kind of ill advice.
But mine and many others still do…
3:23 In that case, if your viewers want some perspective, the BoJ's balance sheet in USD is just under $66 trillion, compared with the Fed's $8.2 trillion.
If you have been following Mike for a while now like I have, go back to past videos and you'll see how much you have learned by how much you've forgotten.
😉
Hey Mike
There is a lot of talk about TaaS in Silicon Valley
In fact I also happen to own a TaaS software startup
I would like to know what's your view of TaaS as a sector of growth objectively or is it another tulip mania?
I happened to be in this space since a long time, much before all the talk
You are a sensible, logical and data driven analyst, economist so thought I'd ask if you had any thoughts on this as a retail investor
Wow, those steaks are HUGE! You'll need another hike to burn the calories off! The mental game thing applies in so many areas. We have a fuel 'crisis' over here in the UK and people are acting like animals. I have 43 miles left in my tank and 200 in my wife's tank but we sitting here waiting for the people to calm down and when the pumps are full again and the queues are gone, we'll top-up. Failing this, we have feet we can use! It's blow over soon and we'll get back to normal but the emotional response is like that from the dark ages. Keep up the good work, Mike.