Mike Norman Economics

We are currently in an environment where people are going around repeating the mantra “more government spending means taxes must go up”.But only, of course, by people who are hard of both accounting and mathematics. It’s like the household analogy - a common fallacy.Let’s see why.…New WaylandWhy Tax Matches SpendingNeilW

 Currencies are not memes that only have value because the governments say they doNow, take the Fed. It’s just a special bank. Like Bernanke said, commercial banks have deposit accounts at the Fed. When the Fed lends them money, it marks up their accounts with dollars we call reserves. And, just like when the commercial banks lend you money, those reserves are a liability for the Fed. But there’s a crucial part of the process that didn’t make it into 60 Minutes: when the Fed marks up those...

A complete MSM blackout. Total silence. As we have pointed out since Media Lens began in 2001, a fundamental feature of corporate media is propaganda by omission. Over the past week, a stunning example has highlighted this core property once again.A major witness in the US case against Julian Assange has just admitted fabricat­ing key accusati­ons in the indictment against the Wikileaks founder Tumbleweed In The ‘MSM’But all of this is seemingly of no interest to the ‘mainstream’ media. We...

A couple of months ago I said bond yields would be coming down. It's MMT 101. 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/

 Crikey, it's looks like travelling back in time is possible, well, they can't get the equations that say it's possible to break down, except any time-machine that went back in time would self destruct, but technology may be better in the future.Also, depending on how fast we have travelled during our lives, we are all in different time zones to each other. Some of your friends and relatives may have flipped forward in time by a few nano seconds.Some scientists take time travel seriously....

 New research argues that 100 nuclear weapons is the “pragmatic limit” for any country to have in its arsenal. Any aggressor nation unleashing more than 100 nuclear weapons could ultimately devastate its own society, scientists warn MichiganTech NewsKelly Christensen - More Harm Than Good: Assessing the Nuclear Arsenal Tipping Point

Dennis Kelleher, the co-founder, President and CEO of the nonpartisan Wall Street watchdog, Better Markets, has issued a scathing rebuke of the Federal Reserve’s so-called “stress tests” of the mega banks on Wall Street, calling them “toothless.”Kelleher’s criticisms revolve around two key points. The Fed is preordaining the outcome of the tests by (1) pumping up the banks’ capital with financial handouts prior to the tests and (2) by removing key aspects of the stress tests that would...

It is the first time that Sinotrans has simultaneously launched several cross-border trains from different cities....Chinese trade with Europe picking up in spite of political belligerency.ECNSFour China-Europe freight trains set off from China simultaneouslyChina-Mongolia border port has handled over 1,200 China-Europe freight trains

Short summary of The Deficit Myth. Positive.Scottish Legal NewsPatrick Christie: Hardly a deficiency

This was just put out in April… so now you think just 3 months later Manchin will just blithely roll over and trash the filibuster to raise the debt ceiling before extraordinary measures are exhausted?  Hard to see that imo… and of course bipartisan…Capito, Manchin Reintroduce Bipartisan Bill to Rein in National Debt https://t.co/rbIXDalQ4n— Donald Pedersen (@DonaldP28785881) April 18, 2021