Mike Norman Economics

In discussions about the significant differences that we have observed over the last 30 odd years between the conduct of economic policy in Japan and elsewhere, the usual response from mainstream economists, when challenged to explain the outcomes in the former nation, is that it is ‘cultural’ and cannot be applied elsewhere. I always found that rather compromising because mainstream economics attempts to be a one-size-fits-all approach based on universal principles of maximising human...

Budget balance is total spending minus total taxation. Not too difficult to figure out how that will trend. 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

What Philip Pilkington does not mention is that the economic warfare program that the US has adopted and its allies have mostly gone along with is a informal declaration that the era of free markets, free trade and free flow of capital is now over. The US-led West has shifted from a peacetime to a wartime economy.The other factor left unmentioned is "The Great Reset," meaning especially the transition from carbon-based energy sources to alternatives in order to address climate change.Both of...

 Every Union member and working class man and woman and child in the United States of America should be livid right now. President Joe Biden (a Democrat), the Democratic Party leadership in the House and Senate, and the vast majority of Democratic (& Republican) Party politicians in the Capital just fucked over Rail workers and sided with the billionaire bosses again. The Rail corporations, after years of record profits, shall not be required to pay workers if they have to miss a day of...

Poland getting tanks…1,000 South Korean variant:Poland has announced that it will create a consortium in the coming days with South Korea, which will be responsible for building K2PL in Poland.It will be the Polish, upgraded version of the South Korean K2 tank.Poland will buy 180 K2s & will build 820 K2PLs.🇵🇱🇰🇷 pic.twitter.com/9Eub0PeHYR— Visegrád 24 (@visegrad24) November 28, 2022 366 US M1 variant:BREAKING:On Tuesday, the US State Department approved a sale of 116 M1A1 Abrams tanks to...

The 2020s appear to be a never-ending parade of global groupthink. The Russian Oil Price Cap is yet another stupid and self-destructive idea that should have been suffocated at birth. It cannot possibly achieve what its supporters claim, and it represents emotional value signalling from the Big Hug Club rather than any semblance of rational thought.The belief is pure neoliberal hubris, based upon a category mistake and a complete misunderstanding of how national economies and their...

People think the stock market is a leading indicator of the economy. It's not. At best it's a coincident indicator, and more often, a lagging one. 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....

US mulls ‘scorched earth’ strategy for Taiwan instead of defense…The United States will enact a scorched-earth policy in Taiwan, destroying its semiconductor industry, if the PRC seizes the island, former Trump national security adviser Robert O’Brien told a conference at the Richard Nixon Foundation on November 10, reports army-technology.com. “If China takes Taiwan and takes those factories intact – which I don’t think we would ever allow – they have a monopoly over chips the way OPEC has...

Bad news for the market. 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

While the world’s climate negotiators gathered for the COP27 summit in Egypt, a new report published by the Transnational Institute, a Dutch think tank, emphasizes how rising global military spending is a great threat to efforts to combat climate change.According to the report’s authors, “every dollar spent on the military not only increases greenhouse gas emissions, but also diverts financial resources, skills and attention away from tackling one of the greatest threats humanity has ever...