Mike Norman Economics

Why do we have 60 seconds to a minute and 60 minutes to an hour?Why do we have 360° in a circle? Finding this out was awesoman. Of course, I thought!And why do we use base 10? Because it's easy, I thought. Nope, it's more obvious than that. [embedded content]

MMT. Edward Hadas makes a couple of mistakes:  Steven Keen is not an MMT economist although he is an MMT ally and QE is not the same as fiscal injection in that the former creates no new aggregate net financial assets in non-government while fiscal injection does. But these are subtle points and the rest of the piece is favorable, so no quibbles.  Reuters is a news service, and I initially picked this up at NADAQ. So MMT is getting wide exposure.Reuters Breaking ViewsHadas: Fear of...

Clint Ballinger uses an automotive analogy to show how MMT is not so much a matter of changing policy as much as it is of using the full power of currency sovereign. Then the self-induced limitations on using the full capacity of fiscal space disappear automatically. The mistake is largely due to the erroneous government as firm or household analogy. A sovereign currency issuer is not limited in the amount of currency it can issue, unlike currency users that must obtain the currency. The...

Already backpedaling on campaign rhetoric.  After they won their primaries, some young progressives curbed their pro-Palestine rhetoric. Now they are in Washington getting oriented. Next up: early test votes in the new year sponsored by the pro-Israel lobby, writes As`ad AbuKhalil. Consortium News Newly-Elected Progressives Confront AIPAC Test As’ad AbuKhalil | Lebanese-American professor of political science at California State University, StanislausSee also at Consortium NewsAnother...

The information transfer model tracks this pretty well. Information Transfer EconomicsUnions, inequality, and labor shareJason Smith

Banks are not intermediaries between savers and borrowers, and finance is not allocating existing savings to future investment. The opposite is true. Bank credit is self-funding; in credit extension, loans (assets) create deposits (liabilities). In finance as allocation of capital, investment creates saving.Lars P. Syll’s BlogKalecki and Keynes on the loanable funds fallacyLars P. Syll | Professor, Malmo University

Chinese consumers are embracing credit. This has huge implications for increasing China's consumption to investment ratio, which needed for the transition from low-income, to middle-income to high-income country. This implies growth of the domestic economy and less dependence on the external sector. It will also bring China trade surplus more toward balance and over time likely into deficit as "the Chinese consumer" replaces "the American consumer" as the purchaser of last resort. And it's...

I'm a little maxed out on the politics at the moment, and as the elite are so intent of destroying the whole planet just to add a few more billions to the ones they already have, I've been looking into physics, string theory, and the multidimensions because maybe if the whole lot ever does goes up, there might be a bolt hole for us in the 4th, 5th, or whatever dimension to escape into. Could they be the dimensions of spirit?Okay, it's all speculative, supposition, and metaphysics, but I'm...

I intended to put this out under the Truthmedia article but I had a long intro and I thought that people who might like this video could miss it.Tesla felt that the numbers 3,6, and 9 had a very special significance and in this video Gary Lite tells us why.Gary Lite is an occultist and has a number of off-beat and mystical articles far too strange for here, including this one, maybe, but look at the fascinating math in this? And it's all mixed up spirituality, at least according to Gary...

What passes for US military strategy.Reminiscence of the FutureCutting Empire To Size, Or Yet Another "National Security" CrisisAndrei MartyanovAndrei Martyanov cites this. It's a must read. Gripping account.We Are The MightyThat time a Marine general led a fictional Iran against the US military – and won Blake StilwellSee also This year, the US has started to stress its intention of withdrawing from the 1987 INF Treaty not just because of Russia’s alleged non-compliance with it, but also...