Friday , December 2 2022
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Mike Norman Economics

Spending chains and Sankey diagrams — Alan Hutchison

Understand spending chains and you understand a fair chunk of Modern Monetary Theory. When the government spends into the economy it initiates a sequence of financial flows in the non-government sector. The first recipient of the spending is likely to re-spend some or all of it and subsequent recipients will do the same, and so on. That’s a spending chain.At first glance it looks as if the money will bounce around the economy forever and if that were the case the government would have to...

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New Telegraph (Nigeria) — Kaboub To Deliver African Migration Summit Lecture December 8

The 2nd African Migration Summit (AMS) has been slated for December 8, with Associate Professor, Fadhel Kaboub from Denison University, Ohio, United States of America, as the guest speaker. He is to deliver a presentation titled: “Are We Prepared For Mass Climate Migration: A Coherent Framework For Resilience And Justice.” Themed “Climatic Change, Migration And Africa’s Future,” the summit would also be chaired by Nigeria’s House of Representatives Committee Chairman on Diaspora Matters,...

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Russian sanctions: the view from the car market — Philip Pilkington

In the 1990s, the West used to see its economic influence in countries like Russia as a victory and a show of Western power. This was always the correct view. Now our leaders see the exclusion of Western products from foreign markets as a victory. This is such a muddled view it is almost comical. It is the sort of view that shows how ill-prepared our leadership class are for navigating the new multipolar world....Import substitution domestically and internationally importing from friendly...

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TASS — Putin calls for creating international payment system independent of interference

An independent system of international payments can be created based on digital currency and blockchain technologies, Russian President Vladimir Putin said on Thursday....TASSPutin calls for creating international payment system independent of interferenceAlso at TASSAbout 200 countries are assessed and Brazil, Saudi Arabia and the Republic of Korea are the three leadersRussia is among top ten countries in digitalization of public services — Putin

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Bill Mitchell — The RBA governor jumps the shark

Today we consider how asinine Australian’s monetary policy makers are now sounding. Yesterday, I reported the massive income redistribution that is going on at present as a consequence of central banks now hiking interest rates. This not only favours those with interest rate sensitive assets and punishes borrowers, but also necessitates, under current policy settings that central banks pay millions to trillions of cash to the banks that hold excess reserves. The excess reserves are the...

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Load the boat!

2023 will be a HUGE year for stocks. Load the boat now, while others remain afraid. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

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Five Reasons Why G7’s Price Cap on Russia’s Oil is Doomed — Ekaterina Blinova

Basically, the G7 lacks the power. The article explains the how and why.Not to mention that such a move undermines the "rules-based order" policy of free markets and free trade, further showing who actually makes the rules unilaterally.Frankly, it looks like desperation.Sputnik International (Russian state-sponsored media)Five Reasons Why G7's Price Cap on Russia's Oil is DoomedEkaterina Blinova

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