Sunday , December 4 2022
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Stocks are oversold.

Summary:
Panicky monetarist zombies have driven the stock market below "fair value." It's oversold. Buying here or lower will pay off well. 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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Panicky monetarist zombies have driven the stock market below "fair value." It's oversold. Buying here or lower will pay off well.



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.

21 comments

  1. Money keeps the misery away

  2. Vladimir Zhevnerov

    You are the Best!

  3. Hey, Mike!

  4. Thanks for all you do to educate!

  5. kudos to Mike for showing his face everyday

  6. Thank You Mike , I look forward to your YouTube videos, you make so much sense, most people are not able to comprehend what you are teaching, you are crystal clear and I appreciate you brother.

  7. Am I wrong or does it appear that the deficit has been shrinking over that last week or so?

  8. Not a trader. Can this activity (studying with Mike, following his instructions), if done correctly, generate income on a regular basis that would enable one to earn enough to pay their monthly bills (rent, food, utilities, credit card)? Is there risk that can't be mitigated? Can you go for long periods without earning any $? What could someone do with 10k, if they got educated and followed Mike's instructions?

    • Finance & Economics

      10k isn't very much.

      Trading is difficult, even more difficult if you're trading with money you can't afford to lose.

      I would suggest investing in an index etf and waiting until you have a larger amount to trade with. In the meantime, you can try paper trading. Some brokerages offer it, so you can test different strategies before you use real money.

    • @Finance & Economics Thank you for your advice. I figured as much. I'm just trying to solve a cashflow problem at this point in my life (my business crashed). Trading is obviously not a logical option for me.

  9. Finance & Economics

    Stocks aren't oversold enough, if you ask me, given the fact that we're going into September. It's appropriate to be cautious.

    This is one of those times, the best choice is to do nothing.

    I do agree that rate hikes are not a negative.

  10. Vincent Siniscal

    Amazing video Mike!! Sound sage advice.

  11. pheening at an all time high as bulls crash their horns into the concrete wall of the laughing fed

  12. Thanks Mike, crazy how much those zombies can push the market down.. Just a great opportunity to buy.

  13. "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/

  14. Mike, I've always thought you missed your call to be a university lecturer. You're the only one (Money and Macro are second to you) that offers a sensible pragmatic view of the world from a clear, well-thought-out viewpoint..and what you say always seems to happen. We need more people like you who offer rational and qualified arguments and less doom-mongers who wish that the human race goes to the wall. If I were a priest I'd have a word with the man upstairs to keep you on this dimensional plane, sir as you have very much to offer. On the subject, however, is a video on the ratio of government spending vs. bank credit creation would be appreciated as this is the bit I feel people like me are missing. I think* bank credit creation is the lion's share, but that's not net creation as payment = destruction whereas government spending is net creation. Mike we all owe you a beer or a glass of vino. Stay well and healthy from across the pond.

    • Mike Norman MMT Economics

      I missed my chance on a lot of things. Sometimes I don't know why the hell I'm still doing this stuff.

    • ​@Mike Norman MMT Economics – Hate to seem selfish here but we're glad to have you and your wisdom, so we are pleased things worked out the way they did. Hope the weather that side of the pond is good. ​

  15. Dankje Mike 💚!

  16. Thank you very much, Mike for your nice video! Do you mention October 6, as example of moving market forward, or it is specific day of social security/veterans etc. payments?

  17. បេះដូង

    No, it isn't oversold. You don't have a clue!

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