Mike Norman Economics

At 8:30 Steve Keen marvels at what the Chinese have achieved in 30 years. He says their society is liberal with an authoritarian government in the background, but it is more responsive to people's' needs than our 'democratic' governments are. With its mix of private and public banks, China has achieved a lot. [embedded content]

Robert Vienneau links to the "popular" trolls, followed by a short summary of MMT as essentially correct as descriptive of the monetary system.Thoughts On EconomicsElsewhere: Popular Writing On Modern Monetary TheoryRobert Vienneau

Dr Patrick Moore, the climate change denier and corporate stooge, said Monsanto's Round Up was safe to drink, but the interviewer had some Round Up and offered him a glass, but he refused to drink any. He then walks out calling the interviewer a complete jerk. [embedded content] In the video below, Potholer54 completely demolishes Patrick Moore's arguments. You have to wonder why did Patrick Moore, who is a scientist, had to omit so many facts to make his ideas seem plausible?Also, Patrick...

If the government issues interest-bearing bonds to wealthy institutions to take money out of circulation to control inflation, then why not allow the general public to deposit their savings at the central bank in interest-bearing accounts as another way to control inflation? This would compete with the private banks, but would this be a bad thing?The rest of the article is very MMT in all but name, and describes how the New Green Deal can be paid for while keeping inflation in check. A final...

Richard Wolff explains why we have austerity. 6:11 minutes. [embedded content]

"Be afraid, very afraid."This might be the nuttiest yet.Zero HedgeModern Monetary Theory (Or, How I Learned To Stop Worrying & Love The National Debt)Ben Hunt via EpsilonTheory.com,

"A FLEET OF A THOUSAND COLONISTS are blown off course for weeks by a series of violent cyclones, eventually crashing onto the reefs of a large uncharted island. All of their ships and provisions are lost to sea. They wash ashore, all surviving the stormy night. As morning breaks they begin their search for water and possible food sources."The survivors struggle in this foreign land at first. They collect crabs at the rocky tideline, forage along the dense forest-edge, and weave simple palm...

The simple fact is that imports are real benefits, meaning real goods, for the importer and exports are real costs for the exporter, who exchanges real goods for financial goods ("money").That is to say, one party to the exchange obtains real resources in exchange for monetary payment. This implies that the party accepting the payment desires to save, however, temporarily in the currency in which the real goods are priced.Nothing else is claimed in saying that imports are real benefits and...

I literally had a guy crying like a baby back in December b/c the market went lower then when I said to buy. Now it's back. You can't make money without patience.

This seems fitting at the moment, especially as identity politics is being so hotly debated right now.I had to check to see if Jonathon Pie had not moved to the right, but he's still a Jeremy Corbyn supporter, and this is what makes this video unique, because he's on the left.The BBC removed this segment from their broadcasts.  It's a shame, though, that he has fallen for the Putin - Russia-gate myth, so I might have to post him some videos. I will have to see if he has an email address.The...