Mike Norman Economics

Donald Trump launched a trade war with China. On 6 July 2018 he placed 25% tariffs on $34 billion of imports from China and on 23 August 2018 he placed 25% tariffs on an additional $16 billion of imports. On 24 September 2019 he added 10% tariffs on $200 billion of imports and in 2019 and 2020 added tariffs on an additional $300 billion of imports. Chad Bown and Melina Kolb provided a detailed timeline of the trade war...

I had an Op Ed published in the UK Guardian today (my time) which analysed the latest inflation scares that have been dominating the popular media. More and more mainstream macroeconomists are coming out and asserting that economies will overheat. The usual gold bugs have been delighted by this shift in the narrative back to the obsessions and manias that keep them occupied on a daily basis. What was interesting to me was the responses of the commentators to the Guardian Op Ed. If the...

I have been re-reading the Functional Finance and the Federal Debt paper this afternoon. There are crucial differences between Functional Finance Theory (FFT) and Modern Monetary Theory (MMT). Therefore, it (MMT) was not all in Lerner. Let me comment on FTT from an MMT perspective....econoblog 101How Functional Finance differs from Modern Monetary Theory (MMT)Dirk Ehnts | Lecturer at Bard College Berlin, research assistant at the Technical University of Chemnitz, and spokesperson of the...

The growing cryptocurrency sector needs to be regulated to protect users from online scams and prevent it from being used in crime such as money laundering. The growing popularity of cryptocurrency is perceived as a danger to central banks, as they are concerned about the impact that a volatile decentralized currency can have on their economy.  Tough regulations are coming for the cryptocurrency sector 

Preparing for decoupling, a stepping up of the arms race, and an even closer relationship of China and Russia economically and militarily, with the likelihood of technology-sharing increasing. They both know that if one goes down, the other will soon follow.This is now becoming pretty overtly a zero-sum fight to the finish as the dragon and bear react to the eagle and bull-dog as bridges are burned and positions hardened.This does not bode well for the global economy excepting weapons and...

The Fed told us that it was not going to raise rates and I TOLD YOU that bond yields would fall. 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/

 Jeff Bezos net worth - 186.2 billion USDElon Musk net worth - 151 Billion USD Bill Gates net worth - 126.7 Billion USDMark Zuckerberg net worth - 119.7 billion USDThe universe has been in existence for roughly 14 billion years.

I have been working on an article that will come out in the press soon on inflationary pressures. It is obvious that characters like Larry Summers and Olivia Blanchard are trying to stay at the centre of the debate by issuing various lurid threats about the likelihood of an inflation outbreak in the US and elsewhere. Last week, the Financial Times published an article (June 3, 2021) by the former German Finance Minister and now President of the Bundestag, Wolfgang Schäuble – Europe’s social...

The U.S. was the only country on the list with more guns than people and had more than the next 25 countries combined as the Agence France-Presse reported Americans Have 40 Percent of the World's Guns Despite Being Four Percent of Population, Report Shows

According to the researchers, the cell will probably need $5 of electricity to extract 1 kilogram of lithium from seawater. This means that the value of hydrogen and chlorine produced by the cell would end up offsetting the cost of power, and residual seawater could also be used in desalination plants to provide fresh water....OilpriceScientists Find Cheap And Easy Way To Extract Lithium From SeawaterMining