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...
Read More »How Functional Finance differs from Modern Monetary Theory (MMT) — Dirk Ehnts
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...
Read More »Tough regulations are coming for the cryptocurrency sector
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
Read More »China Mulls Unprecedented Legislation To Counter Western Sanctions — Tyler Durden
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...
Read More »Bond yields coming down. Don’t fight the Fed!
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/
Read More »KV Tweet – Billionaires Net Worth
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.
Read More »Bill Mitchell — The monetary and fiscal normality of Wolfgang Schäuble – stagnation and entrenched unemployment
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...
Read More »Americans Have 40 Percent of the World’s Guns Despite Being Four Percent of Population, Report Shows
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
Read More »Scientists Find Cheap And Easy Way To Extract Lithium From Seawater — Mining
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
Read More »The Global South has lost $152 trillion through unequal exchange since 1960 — Dylan Sullivan
Dependency and world-systems theorists have long argued that “unequal exchange” is a key driver of global inequality. Since wages and natural resource prices are much lower in the global South than the North, poor countries must export many more units of embodied labour and resources than they import in order to achieve a monetary balance of trade. This creates a constant transfer of labour and ecology from the periphery to the core, developing the latter but impoverishing the former.In a...
Read More »