Mike Norman Economics

Too much credibility and importance placed on people who are elitist, arrogant and ignorant. Note: my apologies to Cleveland Fed president Loretta Mester. I used the wrong pronoun. I said "he" when I should have said, "she." Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

Mentions MMT.Project Syndicate (free registration may be required)Will Truss Rehabilitate KeynesAnatole Kaletsky | co-chairman and chief economist of Gavekal Dragonomics, an investment research and asset management group based in Hong Kong and Beijing, a well-known economic commentator, a member of the governing board of the Open Society,  chair of the Institute for New Economic Thinking from its foundation in 2010 until 2015, and presently a member of INET’s governing board.

 Oil.India PunchlineIndia’s energy diplomacy blossoms, finallyMK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador. See alsoTASS (Russian state media)Russia ready to turn on Nord Stream 2 — PutinUPDATEZero HedgeIndia Dashes US "Hopes" On Oil Price Cap: "We Will Buy From Russia, We'll Buy From Wherever"Kyle Anzalone & Connor Freeman via The Libertarian Institute

Might have been simpler just to say, "old left" But "Old Left" is already taken, as is "New Left." Branko Milanovic's conception of "paleo-left" is somewhat different from "Old Left," which focuses on economic issues than the "New Left," which focuses on social justice issues. If you are interested in the Left, the post is worth reading. In the US, the political meaning of "left" is Democratic Party and it's factions, liberal and progressive. Progressive is supposedly "far left," but in...

Selling growth on irrational and totally IGNORANT rate fears. Good luck with that! And some pics and videos from my Colorado trip. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

Bank reserves feature prominently in Economics 101 discussions of banking. As is entirely typical for Economics 101 macroeconomics, the topic is either taught incorrectly or in a misleading fashion. Bank reserves — better referred to as “settlement balances” — are just private sector bank deposits at the central bank. If you know what a bank deposit is, you know what a “bank reserve” is....Bond Economics Bank Reserves DemystifiedBrian Romanchuk

Is money precious and scarce, necessitating iron fiscal discipline? Must the government always balance the books or risk ruin? Or is money, in fact, a flexible tool that can be used to mobilize our collective resources to serve those who need them?In this book, leading Modern Money Theory (MMT) advocate Randy Wray explains that the only real constraints on public policy are physical resources, technological capacity and political will: but never money. He shows how modern sovereign...

The message is loud and clear: Saudi Arabia and Russia who form the axis of the OPEC+ are closely coordinating on shaping the world oil market even as they could be competing for market share....Bad news for the West. India PunchlineOPEC+ agrees on oil output cutMK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador. See alsoThe chances of a G7 price cap on Russian oil being remotely effective are perhaps best summed up by a recent tweet from a Bloomberg...

In 2021 I put out a working paper with my simple mathematical model that illustrated MMT’s theory of the determination of the price level. You can read the paper here, or an earlier version of the model in a blog post here. Then at the 2nd MMT Summer School in Poznań, none other than Steve Keen did a demo of his Minsky modeling software, and it occurred to me that it would be fairly easy to set up my model in Minsky. So I did it, and I’m going to show you the results in this post.A word of...

September 5, 2022MEMORANDUM FOR: The PresidentFROM: Veteran Intelligence Professionals for SanitySUBJECT: Ukraine Decision TimeREF: Nukes Cannot be Un-Invented, VIPSPublished at AntiWar