Mike Norman Economics

I don’t see it… they are supposed to have the TGA down to 450b area by end July and the deficit has been running about 150b to 200b per month… so they should be able to last 2 to 3 months till the TGA is zeroed… seems like rather Sept/Oct timeframe… which would coincide with regular order for a budget reconciliation…  unless there is an unforeseen fiscal increase then looks like extraordinary measures for a few months then a resuspension of the ceiling via reconciliation of FY22 budget with...

Looks like Bernie wants to take advantage of today’s low interest rate environment to borrow more munnie from China so we can have the munnie to maintain our own infrastructure….  What a f-ing uneducated douche bag unqualified commie idiot…Sanders: We’ll borrow money to fund ‘one time infrastructure programs’ due to low interest rates | Just The News https://t.co/tXaCjJWRcH— John Solomon (@jsolomonReports) June 25, 2021

Without a deal before the new president takes over, a return to JCOPA is looking less and less likely — not that it ever had real legs anyway. Too much politics on both sides, and too many conflicting interests.  NEOWhy Reiving the JCPOA is Difficult for the USSalman Rafi SheikhAlsoRTIran says it’s not required to comply with UN nuclear watchdog’s demand of ‘immediate response’ on extending monitoring deal

 Who said the Russians never smile?Description1920's Flappers in USSR | 1929 AI Enhanced Film [60 fps,4k]Roaring Twenties Soviet Union in 1929. Brought to life with AI. Filmed largely in Odessa, Ukraine.Not exactly the image which history has left us of the former USSR.[embedded content]

Basel III new regulations start on Monday and lots of people say this will be very bullish for gold. They may be disappointed. 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/

Two Marxian economists critique MMT. I want to stress that because people often do not realise it. And more broadly, both MMT and Marxism offer a challenge to the aggressive capitalism of the last four decades.However, there are crucial differences between us, which Nicolás and I brought out in our paper. They also go back a long time. The most fundamental difference has to do with what money is, and that is not a minor issue. People might think it is a bunch of academics disagreeing about...

 The rationale for capitalism as a socio-economic system based on individualism. (No systems awareness.)In his final letter to shareholders as Amazon CEO, Jeff Bezos offers a novel — and profoundly disturbing — conception of value creation: a handful of visionaries are the sole source of all “real value.” This aristocracy mercifully blesses customers, clients, and even Amazon workers with social goods.JacobinThe Bezos Theory of Value Is Deeply DisturbingWilliam Banks

Good summary of the blow-by-blow in relation to UNCLOS (United Nations Convention on the Law of the Sea)Britain and the US caught lying rather than admit they got outplayed (again).The Vineyard of the SakerSailing into Black Sea trouble: the right of innocent passage (with some caveats of course)Nat South for The Saker blog

Scary! Chinese media released unique footage of the deadly border clash between Chinese and Indian troops in the disputed Western Himalayas region last June. The incident left four Chinese and 20 Indian soldiers dead.The video shows a massive force of Indian troops advancing on a significantly less sizeable Chinese unit while crossing a mountain river.The release of the previously unseen footage comes after the Chinese military broke its eight-month silence on the event. The two nations have...

 I think Thoughty 2 is right. I remember when I was young often buying a naff record but because I had paid money for it, I would persevere and keep playing it, then, after a while, I would often start to like it. After that, I would zoom around my mates house all charged up about this great new band I had discovered, only to be greatly disappointed when my friend didn't like it much either, but within a week or two, he's right into it as well. Nowadays, though, with streamed music, if it...