Mike Norman Economics

Its been around 9 months since the central banks of the world (bar Japan) started to push up interest rates. This reflected a return to the dominant mainstream view that fiscal policy should aim to support monetary policy in its fight against inflation and thus be biased towards surpluses, while central banks manipulated interest rates to deal with any inflationary pressures. The central banks would somehow form a ‘future-looking’ view that inflation was about to spring up and they would...

Published by the Council on Foreign Relations NGO, Foreign Affairs provides space for officials within the US military industrial complex to communicate with one another on matters they believe to be of the utmost significance. Therefore, it is important to pay attention when the magazine makes major pronouncements on any issue.It recently published an appraisal of US sanctions – the conclusion being that they are increasingly ineffective, have prompted Beijing and Moscow to create...

Dean Baker does some MMT — sort of, anyway.CounterPunchDebt, Deficits, Secular Stagnation and the Which Way Is Up Problem in EconomicsDean Baker | Co-director of the Center for Economic and Policy Research in Washington, D.C

Nothing has changed since… This current “debt ceiling!” episode could be the big one… 🤞[embedded content]

I watched it and took part in it first hand. 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. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

Today, I have a few news and information items. First, I detail how to migrate to Mastodon so that you can continue to follow me as I escape Twitter. Second, I provide enrolment details for the next offering of our MMT edX MOOC. Third, I provide access details to my annual Helsinki public lecture which will take place tomorrow starting at 19:00 EAST.Bill Mitchell – billy blogMigrating to Mastodon and some additional announcementsBill Mitchell | Professor in Economics and Director of the...

Since I am in the Modern Monetary Theory (MMT) camp, I cannot write a book on baking without covering some of the critiques of MMT and banking. I wrote about this topic in Section 5.7 of my earlier book, Modern Monetary Theory and the Recovery. In this section, I am give a minimal explanation of the topic, without covering too much of the same ground of that earlier text.Note: This is a draft of a section that will go into my banking primer manuscript.Bond EconomicsMMT And BankingBrian...

Who else will lay it out for you like this? Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

Stop deluding yourself and throwing needless roadblocks and excuses in your path to success. Do you want it or not?

The situation is more complicated than this but Alastair Crooke brings out some key factors. There were actually two big mistakes that he mentions. First is the mistake of overestimating finance and underestimating productive capacity. Andrei Martyanov had been writing about this for some years.The second, which is related to the first, is the abject failure of intelligence to properly access the strength of the Russian economy. This is seldom mentioned but it is a huge factor. Alastair...