Mike Norman Economics

 Demographics and sociology in relation to US politics.Good historical summary and where matters stand now.CounterpunchBiden’s Gravest Challenge: White ResentmentDavid Rosen

Given I provided a detailed National Account analysis yesterday, I am using today as a blog lite day with just some snippets and then a musical offering – as per my usual Wednesday practice. I did an interview for Real Progressives last week and some of the social media reaction has been hysterical – claims that Modern Monetary Theory (MMT) has gone political and that MMT advocates abandoning the capitalist system and so on so forth. Some of this stuff is coming from self-identified...

Table below shows some recent selected months net spending;  ie Total Withdrawals - Total Redemptions October 2020 $402b (month leading into election...Democrats really screwed Trump and us) November 2020 $472bFeb 2021 $598b March 2021 $985b (wow!) April 2021 $723b May 2021 $685b So this peaked in March on the 1.9B Biden stimmy and now is headed back down...   If no further stimmy is passed (imo does not seem likely) then we probably trend...

I later found out that Sam Vaknin is a psychopath, and that he is not a professor and neither does he have a PhD. I did think his style and delivery seemed too relentless and forceful for a genuine academic, although he does have an IQ of 188, which is phenomenonal. A third of the way through the documentary I started to like Sam Vaknim, but was I just being another victim too? It seems so!Why did he agree to make the documentary? I think it was just to promote his book. I found the...

Winston Frederick Sterzel, who calls himself SerpentZA on YouTube, is very racist, and seems to particularly hate the Chinese. He says they are very greedy and will eat anything, a bit like most people I know, including me. Anyway, to prove his point, he says that the first thing that the Chinese say when they meet you is, have you eaten? I knew this was probably just a way of saying hello, and it's original meaning had probably been lost. It's a bit like Watcha in Britain, which means what...

Fed said it would wind down its corporate bond portfolio. I'm already seeing ridiculous comments about the Fed "tightening." It's not. 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/

For the US-Russia summit on June 16. Sergei Lavrov didn't miss a beat when yesterday, speaking at the conference dedicated to the 20th anniversary of Russian-Chinese Treaty on Good Neighborhood, Friendship and Cooperation, stated that:Всеобъемлющее партнерство РФ и КНР больше чем просто военно-стратегический союз.Translation: All-encompassing partnership between Russian Federation and China is more than just military-strategic alliance. Sergei Lavrov is not the kind of statesman who uses...

Patricia and Christian talk to Senegalese development economist and author Ndongo Samba Sylla about the political challenges facing countries with limited financial sovereignty and Africa’s last colonial currency – the CFA Franc....Brave New EuropeThe MMT Podcast – Ndongo Samba Sylla: The CFA Franc & The Movement For Monetary Sovereignty In AfricaMathew D. Rose

There was a recent exchange on whether MMT prescribes a certain size deficit. As @KarlWiderquist argues here, the answer is no. But I would go even further. MMT does not prescribe or aim to estimate a specific size of 'desirable' govt deficit for several reasons....Read the thread here.Thread by @ptcherneva on Thread Reader App