Mike Norman Economics

China's BeiDou Navigation Satellite System (BDS) has become the top guidance service provider for domestic Gaode Map, according to a statement released by the Beijing Institute of Space Science and Technology Information on Wednesday.Based on the average number of satellites called by domestic navigation apps for each positioning, BeiDou satellites have been called the most, 30 percent more than the second-ranked GPS, the China Media Group (CMG) reported....BeiDou playing a dominant role in...

Marx sets his theory of value within the capitalist (or bourgeois) mode of production:"The wealth of those societies in which the capitalist mode of production prevails, presents itself as 'an immense accumulation of commodities'..." (Marx 2010, first sentence of chapter 1)Feudal societies, with lords and serfs, and classical societies, such as the Roman empire with its slaves, present other modes of production. Although this exposition starts from the same point as Marx, it deviates from...

A scholarly study found that British colonialism caused approximately 165 million deaths in India from 1880 to 1920, while stealing trillions of dollars of wealth. The global capitalist system was founded on European imperial genocides, which inspired Adolf Hitler and led to fascism.…MultipolaristaBritish empire killed 165 million Indians in 40 years: How colonialism inspired fascismBen Norton

Let’s wrap things up. As a rule, your best bet for understanding the real world is to forget what you read in economics textbooks. Instead, pay attention to what the powerful say when they talk amongst themselves.On that front, CEOs have been explicit that inflation isn’t some exogenous force, driven by the money supply. It’s a game that they actively play.As a case in point, take William Meaney’s recent comments to investors. Meaney, the CEO of an information management company, claimed...

She’s looking at the PV of depository system loan assets not “loans!”…  another reification error here…You can see here from the graph the MMT thesis “loans create deposits!”  I suppose is true but it is not exclusive… If the Central Bank credits reserve asset balances to the depository system this will credit depository system liabilities too…. As can Treasury debiting USD balances previously credited to the TGA…During the global financial crisis, bank deposits kept going up while bank...

These idiot monetarists are like mindless sheep. Take their money! Here's the only thing you should be looking at. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

It’s Wednesday, and I have two things to write about briefly before exposing readers to some more music. First, the evidential base for my ‘this inflationary period is transitory’ narrative gains more weight. The latest CPI data from the US Bureau of Labor Statistics shows that inflation has peaked in the US and falling rapidly in the goods sector, which started this episode off. The second topic relates to measuring progress in the development and spread of new ideas. It is often difficult...

 For now, result means more to the scientific community than it probably does for those pining for a new commercial electricity alternative….Proof of concept is one thing and an important step, but scaling is an entirely different matter. This result simply proves the possibility of nuclear fusion being harnessed is greater than zero, as many previously thought to be the case. Scaling is not yet even on the drawing boards.Asia TimesWhat the US nuclear fusion ‘breakthrough’ actually means...