Mike Norman Economics

Record year spending-wise, but a significant drop-off occurred in September, and that weakened stocks.

Video and transcript.The Vineyard of the SakerDebate : Michael Hudson and Thomas Piketty

Another attempt to explain what the CCP is doing and the motivation behind Xi Jinping's thinking. The author speaks Mandarin and a student of Chinese culture. Worth a read.I view this as another moment in the historical dialectic involving traditionalism and liberalism, and the process of decolonization.The Chinese leadership appears to understand this dynamic and is jumping in to shape in with Chinese characteristics in China. I support the approach of putting a leash on capitalism, which...

Can’t even make this up… Paul to Art Degree lawyer Becerra: “Are you a Medical Doctor? Do you have a Science Degree?”Becerra has an Art Degree in Economics lol!  I’m not making this up why would I make it up? Don’t have to…  probably doesn’t know the atomic number of Hydrogen…President scrambled eggs for brains puts an Art a degree lawyer in charge of national health policy… so what does this moron do?  Turns health care into a dialogic argument right on cue…This is the same as “the coin!”...

It's all about the flows, and I've been telling you that flows have been slowing, which means economic activity, corporate profits and stocks are all correcting lower. 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: https://mikenormaneconomics.blogspot.com/

Backgrounder. Should-read for all who want to understand the dynamic of Afghanistan and its place in geopolitics.The CradleThe Pashtun will outlast all empires, but can they hold Afghanistan's center?Pepe Escobar

Economics professor L. Randall Wray, a Bard College professor who has championed Modern Money Theory, which de-emphasizes the drawbacks of debt, said the special coin is no wackier than other expansionary financial maneuvers enacted by the Federal Reserve during the pandemic that have involved hundreds of billions of dollars of public and private debt.“It is a work around,” Wray said. “It sort of makes it obvious that the debt limit itself is a pretty stupid idea.”...Wray and others note...

This is Part 2 of my analysis of the way that fundamental ideas in Modern Monetary Theory (MMT) are totally consistent with a reasonable interpretation of Marx’s work. The motivation to clarify these issues came after I spoke at an event last weekend in the UK and shared a panel with a critic who claimed that Marx’s work established that MMT is wrong to assume that unemployment is a monetary phenomenon (insufficient spending) and that government spending can do anything about it. The claim...

lol at all the MMT Democrat phonies:  They suspend it until just after the mid terms so if they get wiped out in midterms (which usually happens) they can immediately turn around and start to hit the GOP over the head with the same moron hammer…BREAKING: House Democrats vote to suspend debt limit until December 16, 2022; bill now heads to Senate— Breaking911 (@Breaking911) September 29, 2021

 The Banks crashed the economy in 2008 but then were bailed out, then the government needed to make cut backs as well as borrow from the banks. The banks cleaned up. The banks are now telling the universities to sell off assets and to get rid of staff. That the banks are taking over universities.How is this happening and why?We have to go back to the crash of 2008 caused by the banks overlending, selling debt and leveraging their debts by taking out more loans. To keep money flowing,...