Mike Norman Economics

A new bill backed by MidAmerican Energy would devastate the ability of Iowans to install solar panels for their homes or businesses. House Study Bill 185 would undo a longstanding policy of net metering, which “allows residential and commercial customers who generate their own electricity from solar power to feed electricity they do not use back into the grid.”Iowans served by monopoly providers MidAmerican or Alliant Energy have been able to use net metering since the 1980s, under rules...

Double standard.FAIRWhen India Tries to Regulate Amazon, US Media Qualms About Monopoly Disappear John O'Day

China is determined not to allow the US use the trade deal to limit its sovereignty. That is a red line for China. Trump has made crossing that line a sine qua non. Zero HedgeNot So Fast: China Will Not Allow Use Of Yuan As Bargaining Chip To Resolve Trade War Tyler Durden

Is the US morphing into its former arch-enemy that it believes to have vanquished and relegated to the trash can of history? In addition, Professor Cohen did not mention other similarities with totalitarian states, such as restriction of constitutional rights and civil liberties through legislation like the Patriot Act and the establishment of a Department of Homeland Security and the militarization of the national security force creating essentially a police state, especially  when...

Despite what proponents of modern monetary theory say, America’s current rate of deficit spending is already undermining faith in the dollar as a reserve currency. That is why so many nations are starting to slowly dump their dollar reserves and buy gold. As the dollar loses its reserve currency status, the U.S. will lose its ability to print and borrow money without experiencing runaway inflation. Decades of budgetary mismanagement will catch up with the nation, allowing other nations to...

Which is the cult and who are the cultists here?New StatesmanThe surprise cult of Modern Monetary Theory Hettie O'Brien

It is Wednesday – so just a few observations and then we get down a bit dirty (funky that is). Today, I consider the GND a bit, critics of MMT, Japan, and more. Never a dull moment really. I didn’t really intend writing much but when you piece together a few thoughts, the words flow and so it is. The main issue is the recurring one – the lets have a little, some or no MMT narrative. This misconception regularly crops up in social media (blog posts, Twitter etc) and tells me that people are...

Young people around the world are going on marches demanding action on climate change, but Russia gets the blame for it. [embedded content] Talking almost in one breath about Russia, “hybrid warfare” and widespread environmental protests among schoolchildren across Europe is not bizarre paranoia, but a deliberate tactic, RT has been told.

Ron Paul doesn't understand what money is because he thinks it has to be commodities, including gold and silver - that is, money has to have intrinsic value in itself.Money is a ledger system which helps us to pay each other for work done. If someone pays me money for work that I have done for them, then I can use that money to pay someone else to do work for me, and in this way we have exchanged work. Fiat money is the system we use to exchange work with each other.The system works on...

The money to buy government bonds comes from government spending itself. The head of the Treasury's own advisory committee doesn't understand this.