Mike Norman Economics

I don't know if their film will be seriously edited, or not shown at all, but these two journalists, who work for a major TV company, found Venezuela to be completely different to how it is portrayed in the Western media. Venezuelans are not hungry and now grow a lot of their own food. And as it's tropical, there's plenty of fruit around, much of it for free just hanging off trees. They say one mistake Maduro made was to pay off Venezuela's different debt too early, in light of how the...

This article was tweeted by Stephanie Kelton and fits in well with my own theories with how MMT works, which I have printed here before.I would like to add, that money does not create wealth, work does. I can create wealth by growing potatoes in my back garden, or some fruit, or by making things in my shed, or just by offering my labour. But what if there is not enough money in society because people don't want to take out anymore loans, or the banks don't want to lend to poor people, or...

More depressing stuff about the evil thugs who rule this world, and it's all about money. Steve Keen, Michael Hudson, and many other fine people said it was best for the UK to leave the E.U., but according to this article, that's not such a good idea.The British ruling elite are split into two groups: the old industrialists who want easy access into Europe, and the military-industrial-financial-complex which wants closer ties with the U.S. and its war machine.Boris Johnson says, "f*ck...

[embedded content]                                         John Pilger - Rally to Free Julian Assange Dr Lisa Johnson - The Psychology Of Getting Julian Assange, Part 1: What’s Torture Got To Do With It? In the first part of a special New Matilda investigative series, clinical psychologist Dr Lissa Johnson exposes the ‘science’ behind the hunt for Julian Assange, and the tactics those in power use to keep you in the dark. New Maltida ...

The official online debut of the new film WitchHunt has arrived, and you can watch the entire thing in the video above. The film has faced severe censorship, including a bomb threat which successfully canceled one preview. It tells a story about Israel’s alliance with the global far-right that Israel’s supporters would rather you not hear. Acclaimed British directors Mike Leigh and Peter Kosminsky have praised WitchHunt. Leigh said it “exposes with chilling accuracy the terrifying...

The Land of Innovation and Capitalism. The Exceptional Nation.

The relationship between reserve balances and market movements is important.

Kenneth Rogoff's criticism of Modern Monetary Theory assumes that MMT advocates don't care about budget deficits or the independence of the US Federal Reserve. But these assumptions are wide of the mark, and Rogoff himself sometimes undermines his own arguments. Project SyndicateModern Monetary Realism James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at...

MMT lets me forecast the economy and from that, the markets, better than any other type of analysis.

For now a brief excursion into the Dutch press, which has decided to join the wannabees attacking Modern Monetary Theory (MMT). The scenario outlined in the article I read earlier today takes the criticisms to a new level. We are no longer worried about hyperinflation, crowding out, sky high interest rates. No, things are likely to get much worse than that. If any government takes on MMT (noting it is not a regime that can be taken on) to operationalise a Green New Deal then tax rates will...