Mike Norman Economics

MMT has not developed a coherent theory of how tax fulfils the withdrawal function to control inflation it has prescribed to it, hence the papers by me and me and Andrew Baker. Hence too why we are also planning to develop this, considerably. We are seeking to develop theory on how tax does simultaneously have this withdrawal function, which does not fund spending but is an explicit part of the overall funding cycle, whilst simultaneously having a strong function in delivering social,...

The central lesson of the COVID-19 fiscal response is that money is not scarce. Without delay, governments around the world appropriated budgets that dwarfed any other postwar crisis policy. In 2020, Japan passed a stimulus package equal to 54.8 percent of GDP, while in the U.S., it was equivalent to 26.9 percent and in Canada to 20.1 percent. Italy, France, and Germany spent 10.1, 10.4, and 10.7 percent of GDP, respectively (Dziedzicki et al. 2021).…Download file at link.EDI Resources...

The stock market is trading like there's been a 30% contraction in the economy, when in actuality the economy is growing at around 2%. Some stocks at generational lows. You won't get these bargains ever again. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics:...

RT — Question More (Russian state-sponsored media)An open letter to the American people, as Russia celebrates its WW2 victory over the Nazishttps://www.rt.com/russia/555114-victory-day-america-nazis/A Son of the New American RevolutionWhy America Fails to Commemorate Victory over the Nazis While Russia Still Celebrates (good question, but I think his answer is somewhat simplistic. Americans had no where near the investment of the Russians, for example, and war was not fought on American...

[embedded content]Surprise, not! Victory Day, May 9th, How To Make A Decision. Real War PlanningAndrei Martyanov, former USSR naval officer and expert on Russian military and naval issues. Martyanov was born in Baku, USSR in 1963. He graduated from the Kirov Naval Red Banner Academy and served as an officer on the ships and staff position of Soviet Coast Guard through 1990. He took part in the events in the Caucasus which led to the collapse of the Soviet Union. In mid-1990s he moved to the...

Last Friday (May 6, 2022), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – April 2022 – which reported a total payroll employment rise of only 428,000 jobs and an official unemployment rate of 3.6 per cent. However, the Labour Force survey provided the opposite impression with employment and the participation rate falling. It is difficult at this stage to reconcile the two messages except to say that the US labour market has...

The Vineyard of the SakerSitrep Operation Z: Yeah, we have some Big DealsThe Saker Staffhttp://thesaker.is/sitrep-operation-z-yeah-we-have-some-big-deals/A Son of the New American RevolutionCIA Ineptitude, Russian Cauldrons and the Ukrainian MafiaLarry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter...

Economic life as experienced was increasingly pushed out of view to make the chosen methods work.Tractability over realism.EvonomicsHow There’s More to Economics Than the Science of ScarcityNicholas Gruen, CEO of Lateral Economicshttps://evonomics.com/how-theres-more-to-economics-than-the-science-of-scarcity/

RayMcGovern.comOnly If the News Fits [the Narrative], Do We Print [It]Ray McGovern, co-founder of Veteran Intelligence Professionals for Sanity, and retired 27-year career CIA whose tasks included preparing and briefing The President’s Daily Brief and leading the Soviet Foreign Policy Branchhttps://raymcgovern.com/2022/05/07/only-if-the-news-fits-do-we-print/CaitlinJohnstone.comUkraine Alone Makes Biden The Worst US President In A Long Time (maybe ever. What other president has been so...

The Vineyard of the SakerMegalopolis x Russia: Total WarPepe Escobarhttp://thesaker.is/megalopolis-x-russia-total-war/The Third Patriotic WarSt George’s Day Contribution by Batiushka for The Saker Bloghttp://thesaker.is/the-third-patriotic-war/The American ThinkerIs the American Postmodern Left a Fascist Movement? (MMT is a component of "Leftist Fascism"?)Stephen B. Younghttps://www.americanthinker.com/articles/2022/05/is_the_american_postmodern_left_a_fascist_movement.htmlInternationalist...