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Mike Norman Economics

The Man Who Invented the Trillion-Dollar Coin [Carlos Mucha aka beowulf]. An Atlanta lawyer was just spitballing on a financial blog. He didn’t expect Washington to listen. — Alex Carp

Some of us at MNE lived through this saga back then. No one could have expected what has come to pass since. Good article on the history and issues involved.IntelligencerThe Man Who Invented the Trillion-Dollar Coin [Carlos Mucha aka beowulf]. An Atlanta lawyer was just spitballing on a financial blog. He didn’t expect Washington to listen.Alex Carp

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CEA MMT Panel Post-Mortem — Brian Romanchuk

I participated in a “Yay/boo for MMT!” debate Zoom panel for the annual Canadian Economist Association conference.…What I would offer as a generic lesson for this exercise is that discussing “MMT” as a concept is a dead end, one needs to focus on particular concrete topics of interest, and see whether MMT is offering useful insights into that topic.Bond Economics CEA MMT Panel Post-MortemBrian Romanchuk

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Escobar: Eurasian Heartland Rises To Challenge The West — Pepe Escobar

As a result of BRI, the New Silk Road, CSTO, SCO, the explosive growth in the coming years is likely to come from the developing world, not only Africa and Latin America but also the countries of Central Asia lying between and linking Russia and on to Europe and China as a gateway to Asia.Central Asia is part and parcel of the Western foreign policy position regarding Russia and China. It is about who is going to control the Heartland and dominate the World Island (Halford Mackinder,...

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Some ridiculous bearish arguments I’ve been bearish.

Here are some dumb reasons some are putting forth for getting bearish on stocks. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://www.pitbulleconomics.com Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

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The Deficit Myth is Hanging On for Dear Life — Stephanie Kelton

For months, Speaker McCarthy has been telling the American people that republicans wouldn’t agree to raise the debt limit without a plan to get the nation’s “fiscal house back in order.” Never mind that he and most of his republican colleagues voted—without any preconditions—to lift the debt ceiling on three separate occasions when Donald Trump was president. To retain his gavel McCarthy needed to cut a deal that his members could get behind....In response, President Biden said, “Speaker...

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Achieving by Undermining — Radhika Desai and Michael Hudson

RADHIKA DESAI: Hello and welcome to the 10th Geopolitical Economy Hour, the fortnightly show in which we discuss the political and geopolitical economy of our times. I’m Radhika Desai.MICHAEL HUDSON: And I’m Michael Hudson.RADHIKA DESAI: And as last time, we have once again with us today, Professor Mick Dunford, professor emeritus at Sussex University and visiting scholar at the Chinese Academy of Sciences.Mick is based in Beijing and his work focuses on world development, especially in...

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Chartbook 216: When was the era of Bretton Woods? — Adam Tooze

As Perry Mehrling has recently argued in his intellectual portrait of economic historian Charles Kindleberger, the true undergirding continuity of international finance were not inter-governmental arrangements about national currencies, but the interlocking balance sheets of private finance stretched between the City of London and Wall Street. These made the Bretton Woods system increasingly unworkable by the late 1960s but they also ensured that the end of the system in the early 1970s did...

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