Mike Norman Economics

Ok FINALLY here we go in the media… I guess they waited for 30 day count down…The U.S. Treasury is facing growing pressure to slash its bill supply to meet a debt ceiling target poised to be reinstated at the end of the month https://t.co/GRK7jY3yNv— Bloomberg Markets (@markets) July 1, 2021

President Biden’s proposals for investing in social and physical infrastructure signal a return to a budget-neutral policymaking framework that has largely been set aside since the outbreak of the COVID-19 crisis. According Yeva Nersisyan and L. Randall Wray, this focus on ensuring revenues keep pace with spending increases can undermine the goals internal to both the public investment and tax components of the administration’s plans: the “pay-for” approach limits our spending on progressive...

Over the past 3 weeks the Fed has drained over $400 bln from reserve balances, triggering a dollar short squeeze. 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/

 I thought Jimmy Dore is spot on here. Washington - Murder.inc[embedded content]

 This is what I've been telling everybody, and I've mentioned it here too. Do high house prices make us rich? They make us work hard and lower our standard of living, and when they worth a lot, you can't realise the money easily unless you sell and go and live where no one else wants to. And when most people get old, they don't want to move from an area they have lived for many years. Equity release is a horrible deal: where you work hard all your lives making bankers rich, and then they get...

 Tax cuts for the wealthy have long drawn support from conservative lawmakers and economists who argue that such measures will "trickle down" and eventually boost jobs and incomes for everyone else. But a new study from the London School of Economics says 50 years of such tax cuts have only helped one group — the rich.CBS50 years of tax cuts for the rich failed to trickle down, economics study says, BY AIMEE PICCHI

Today, we have a guest blogger in the guise of Professor Scott Baum from Griffith University who has been one of my regular research colleagues over a long period of time. Today, he is writing about the impact the recent decision by the Fair work Commission – Annual Wage Review 2020-21 – on June 16, 2021, which raised the National minimum Wage in Australia to $772.60 per week or $20.33 per hour....Bill Mitchell – billy blogThe working poor are still poor in AustraliaScott Baum, Professor of...

Daily leading flows are slowing down. That's a potential problem for the economy and stocks. 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/

Good post with a link to the author's latest at RT (see below).I would agree with the thrust but the major deficiency is missing the conflict between liberalism and traditionalism as chief factor in the current moment of the historical dialect. This conflict is seen not only among nations but within nations and even in social groups such as churches and political parties.This dialectic has many facets, so it is not a simple task to summarize it other than by noting major trends as they...

The Bank for International Settlements issued its annual report yesterday. Perhaps the central banks are feeling a little insecure, or perhaps they are a little more sensitive to economic reality, but the BIS felt compelled to use one third of its report to tackle inequality. Here’s the summary as given in the report: The Radford Free PressStructural DefectsPeter Radford