Mike Norman Economics

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...

The trolls are at it.Continental TelegraphZimbabwe’s Real Riots Problem – Modern Monetary Theory Strikes Again Tim Worstall AEIEp. 124: What is Modern Monetary Theory? — Political Economy with James Pethokoukis The WeekWhy Modern Monetary Theory is an unserious idea for an unserious time James Pethokoukis

Potholer54 takes on the idiots, Lord Monckton and Stefan Molyneux. See how Lord Monckton knowingly chooses faulty facts from a climate change research facility which later on corrected their data when they found the error in their calculations. But Lord Monckton chooses to ignore this. [embedded content]

In the video below you will see how climate change deniers twist and change the facts. One person, who may not be a scientist, will read part of a research paper on climate change and misinterpret, maybe on purpose, the facts, which he then puts out on his blog which hundreds of other climate change deniers then reblog, until you get an echo chamber of misinformation.Climate change deniers say is that mankind is only contributing 3% of the carbon each year into the atmosphere. Now,...

According to a recent scientific report, it's to late to stop runaway climate change through the positive feedback effect.Perhaps greening the deserts could save us? A scientist who has greened some parts of the desert, says we can carry on using fossil fuels if we do, but governments around the world have even failed to do this. But perhaps we in the West should be chipping in for some of this?In this video an American scientist debates with a hall full of Australian climate change deniers,...

While the literature on theoretical macroeconomic models adopting the stock-flow-consistent (SFC) approach is flourishing, few contributions cover the methodology for building a SFC empirical model for a whole country. Most contributions simply try to feed national accounting data into a theoretical model inspired by Wynne Godley and Marc Lavoie (2007), albeit with different degrees of complexity. In this paper we argue instead that the structure of an empirical SFC model should start from...

Scraping the bottom of the barrel. Mocked on Twitter. Michael Strain is straining. The Establishment is grabbing at straws as their world begins to collapse. Of course, the "joke" is not funny when the joke is on you. Actually, his attempted screed is pretty funny. He is forced to admit that MMT has it right and then look for reasons like political irresponsibility that admitting it will blow up the world.Bloomberg Opinion‘Modern Monetary Theory’ Is a Joke That’s Not Funny Michael R....

Asia TimesTalk of Western intervention in the Black Sea is pure fantasy Pepe Escobar The HillDOJ Official Warned Steele Dossier Biased, Connected To Clinton John Solomon, Opinion Contributor Dances with BearsBRITISH GOVERNMENT DEMOLISHES SKRIPAL HOUSE, ROOF FALLS IN ON THERESA MAY AS EVIDENCE GROWS THAT SERGEI SKRIPAL POISONED HIMSELF BY ACCIDENTJohn Helmer Fort Russ NewsRUSSIA RISING: Russia On Course to be Top 5 Economy by 2020 DESPITE SanctionsPaul Antonopoulos Middle East MonitorUS...