Mike Norman Economics

Jordan Peterson may be the one who really gets to you, but for me it's Stefan Molyneux. Here, Left Sphere dismantles his arguments. At 5:40 Noam Chomsky explains why libertarianism is about enslavement, not liberty, which he says is private tyrrany.  That's worth watching. [embedded content]

This has very important implications for the markets.

Richard Murphy reports another hit job on MMT and him as well along with the progressive wing of the Labour Party that supports MMT. The attack is stepping up. And, my friends, in this story you have a history of this entire movement. First they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build monuments to you. And that, is what is going to happen to the Amalgamated Clothing Workers of America. — Nicholas Klein, 1914 (This quote or a...

The Democratic Party is experiencing a Tea Party-like moment that the GOP went through subsequent to the G. W. Bush administration fiasco, an improbable consequence of which was the election of Donald Trump as a "populist" candidate, surprising the pundits, sparking a soft coup attempt, and challenging the GOP establishment. This dynamic is still in play. Now the Democratic Party establishment aka "corporate Democrats." "Clinton Democrats." and "Third Way Democrats" is being similarly...

Hit job.Noting surprising here. It's right in line with the rest of the establishment propaganda masquerading as "news" and a "free press" in the US.The PhoenixModern Monetary Theory Isn't a Panacea Laura Wilcox

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...