tag:blogger.com,1999:blog-2761684730989137546.post2118454623712121690..comments2024-03-29T09:25:57.035-04:00Comments on Mike Norman Economics: Latest 3 Months Fiscal Posturemike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-78933561865915367622011-06-27T13:11:14.307-04:002011-06-27T13:11:14.307-04:00Thanks, Matt!!Thanks, Matt!!The Jokerhttps://www.blogger.com/profile/17307990096852365358noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-57129637682090466692011-06-26T18:42:36.203-04:002011-06-26T18:42:36.203-04:00The interesting part was the revenue side was up 8...The interesting part was the revenue side was up 80 bln while spending only down by 22b. I was hoping they had delayed a 100 bln plus on current liabilities and then paid out the funds rapidly on debt ceiling raising which could give real and financial markets a nice demand bounce out of the ditch. Doesn't look promising.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-26482916129380400062011-06-26T17:56:11.520-04:002011-06-26T17:56:11.520-04:00This is pretty bad when the best thing we can look...<i>This is pretty bad when the best thing we can look forward to is a hope that we imported less to get us some US GDP "growth".</i><br /><br />That's not happening, 1Q 2011 trade deficit ($571 billion) was up against both 1Q and 4Q 2010.<br />Obama was foolish to let the deficit zombies box him on the budget deficit, the only option it leaves him is jumping on the trade deficit (and its enormous demand leakage) with both feet. WTO Article 12 does allow countries running trade deficits to take steps to restore equilibrium.<br />http://seekingalpha.com/article/272372-u-s-trade-deficit-grows-driving-gdp-growth-down-in-q1 <br /><br />This can be done with tariffs or (per Warren Buffett) an import certificate market. But both of those require Congressional approval, good luck with that. There is, however, a third option. Ravi Batra has long recommended a dual exchange rate system. A NY Fed paper found an "equivalence of tariffs-cum-subsidies and official exchange rate devaluations under dual exchange markets".<br />http://books.google.com/books?id=bX3XpV1wM64C&pg=PA206&lpg=PA206<br />http://www.sciencedirect.com/science/article/pii/002219969390053Z<br /><br />And that is something the President himself can direct Tsy and the Fed (as a designated "agency") to implement by executive order. <br /><i>Consistent with the obligations of the Government in the International Monetary Fund on orderly exchange arrangements and a stable system of exchange rates, the Secretary or an agency designated by the Secretary, with the approval of the President, may deal in gold, foreign exchange, and other instruments of credit and securities the Secretary considers necessary.</i><br />http://www.law.cornell.edu/uscode/31/usc_sec_31_00005302----000-.htmlbeowulfhttps://www.blogger.com/profile/14987548132065830204noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-78086876407014038262011-06-26T13:21:02.210-04:002011-06-26T13:21:02.210-04:00Joker,
I go to the Daily Treasury Statements wher...Joker,<br /><br />I go to the Daily Treasury Statements where they have the month-to-date data on US Treasury withdrawals here:<br /><br />link_http://www.fms.treas.gov/dts/index.html<br /><br />And the Feds H.8 report here for bank credit data:<br /><br />link_http://federalreserve.gov/econresdata/releases/statisticsdata.htm<br /><br />got all of this thru Mike over the years....<br /><br />Resp,Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82415547014492626322011-06-25T23:16:40.676-04:002011-06-25T23:16:40.676-04:00Matt, can you give me the website you visited to o...Matt, can you give me the website you visited to obtain this data?<br /><br />Thanks!The Jokerhttps://www.blogger.com/profile/17307990096852365358noreply@blogger.com