Mike Norman Economics

Zero Hedge (shouting match)"Don't Lecture US": Alaska Summit Opens With Dueling Barbs & Epic Anti-US TiradeTyler DurdenECNS (China accuses US of a "double-standard")China urges U.S. to earnestly promote, protect human rightsXinhua (Chinese state media)China calls on U.S. to solve its own racism, discriminationCGTN (Chinese state-owned media)China urges U.S. to take latest UPR as opportunity to stop human rights violationsXinhuaTop political advisor stresses enduring stability in...

Fed knew this reserve tsunami was coming. Are they just going to let the clock run out? 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

Zero Hedge (Putin: Biden is projecting.)Iran's Defense Ministry Warns Citizens To Prepare For Nuclear & Chemical AttacksDenmark To Limit "Non-Western" Residents In Neighborhoods To 30%Putin Responds To Biden "Killer" Slur: "It Takes One To Know One"Tyler DurdenReminiscence of the Future (Watch the short video clip. It's subtitled.)While Putin...Andrei MartyanovRT (Russian state sponsored)‘Cheap trick, lunatic theory’: North Korea officially rejects any contact with new US...

Heavily marketed online consumer loans can lure students into excessive consumption and debt traps, top regulators say.China moves on the regulatory front to manage private debt acquisition and head cowboy financial capitalism off that the pass before issues arise. Prudence or "mommy state"? I say, prudence.Sixth ToneChina Bans Microlenders From Targeting College StudentsCaixin (Chinese private media)

The real problem is that the hegemon seems congenitally incapable of trying to understand the Other. It always harks back to that notorious formulation by Zbigniew Brzezinski, with trademark imperial arrogance, in his 1997 magnum opus The Grand Chessboard:“To put it in a terminology that harkens back to the more brutal age of ancient empires, the three grand imperatives of imperial geostrategy are to prevent collusion and maintain security dependence among the vassals, to keep tributaries...

Gambling against the house.Himes: “I’ve reviewed the literature here. There is no ambiguity. I’ve looked at the academic studies…It’s very, very clear what happens when retail investors trade a lot. Mr. Kelleher, in terms that the folks watching at home can understand, what happens when retail investors trade a lot?”Kelleher: “They lose and they lose consistently. And they lose because they’re paying more for every single one of their orders because we have an order routing system that is...

This is a more (popular) philosophical way of stating the institutional view. Money is a construct of the culture that is formalized in law and characterized by institutional arrangements created by human and can be changed. MMT is based on institutional analysis and is opposed to the naturalistic assumptions of conventional economists that just happen underlies policy that favors elite interests over people in general and the planet. CaitlinJohnstone.comMoney Is Made Up And We Can Change...

Yes, there is a US Deep State but not how most people think. We can assume something similar with the UK.Former US intel officer Philip Giraldi argues that it is not the unelected and unaccountable administrative state and intel services that makes up the US Deep State but rather the American Establishment (economic, financial, and political elites). The bureaucracy and the intel services are merely means they use to implement policy, and these subordinate people simply follow orders rather...

 I don't usually post pod casts or video, since there is a lot of information that I don't have time to preview.Here is podcast with Stephanie Kelton explaining how MMT "won" in the sense of shifting the policy debate from debt and deficits to the inflation constraint. The former are not actual constraints on a government that is sovereign in its currency while the latter is an actual constraint.Also, I usually don't link to Bloomberg because of the paywall. But this is open.This destroys...

 Focus Economics just published its list of top influencers in economics. Mike Norman made the list as did Lars Syll. Congratulations to Mike and Lars.Incredibly, however, no other MMT economists are mentions, even though, Bloomberg no less notes that MMT has shifted the policy debate onto new ground.Focus EconomicTop Economic Influencers To Follow