Mike Norman Economics

If we are to emerge from this era of crisis, we need legal thinking that operates on fundamentally different presumptions.Longish but important. Neoliberalism as the basis of a socio-economic systems is grounded in law rather than economics and in a democracy, the law can be changed to suit conditions. The authors argue that it's high time to make changes in legal thinking to recognize and deal with power before the adverse consequences overwhelm society and unravel the social fabric even...

Treasury Dept making no significant progress towards their goal of reducing this account balance to $800B by end March....This week:Last week:Same balance.  Usually... when you want an account balance to reduce you have to withdraw MORE than you deposit... usually... except for morons...  in the mean time, there remains almost $1.4T of short term US Treasury security account balances in USD system that nobody wants or needs...

Commie paradise turd world nirvana  no real productive output... "Venezuela said it will introduce new large-denomination bolivar notes as hyperinflation renders most bills worthless, forcing citizens to turn to the U.S. dollar for everyday transactions."https://t.co/EPVZAfikMn— Justin "Rabbit Hole J. Cole" Coleman (@DemopJ) March 6, 2021

Indian authorities have reportedly given an ultimatum to US social media platforms, threatening jail time for their local employees if the companies continue to ignore official takedown requests against “damaging” information.Facebook, WhatsApp and Twitter have each received written notices warning their employees could face arrest should the requests be ignored, in some cases citing specific India-based staff by name, the Wall Street Journal reported on Friday, citing “people familiar” with...

Being "slick," i.e. going around speaking in clichés when it comes to market movements does not make you smart or savvy. 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

It’s Lianghui (“Two Sessions”) time – the annual ritual of the Beijing leadership. The stars of the show are the top political advisory body, the Chinese People’s Political Consultative Conference; and the traditional delivery of a work report by the Prime Minister to the top legislature, the National People’s Congress (NPC).The review of the draft outline of China’s 14th Five-Year Plan will proceed all the way to March 15. But in the current juncture, this is not only about 2025 (remember...

Anyone who's remotely pro-China on social media is vilified as a Chinese bot or a "Wumao" - a person who supposedly works for 50 cents/hour to spread Chinese propaganda. Let's take a look at some illogical American talking points used in the smear campaign against China:"China is going to collapse soon!"If Americans really believed this, they would sit back, smile and ignore China."China is going to take over the world!"This paranoid warning usually follows the delusional, "China will...

Entire “blue wave!” rally in “Big Tech!” (QQQ)  completely destroyed as of yesterday... ZERO gains in 6 or 7 months.... and morons are STILL going all around saying “bubble!” and “inflation!”...  same place ... IT.... ALREADY.... WAS...... on Labor Day.... hard to understand these people...

 Joe Biden could be stripped of war powers after a bipartisan bill was introduced by senators on Wednesday Senators Tim Kaine and Todd Young are calling for the repeal of 1991 and 2002 Authorizations for the Use of Military Force The authorizations allow for the use of military force by a US president that have been used to justify years of attacks in the Middle East Kaine says they leave the country on a 'permanent war footing'It comes as Biden is accused of using the authorizations to...

Exclusive: Indo-Pacific Command requests to double spending in fiscal 2022Billions of dollars for new missiles to encircle China. For Washington elites, military is the only option to bully and contain China’s rise. There are no plans for fixing the US economy.What happened to good ol' capitalism and competition, which the US says it champions?WASHINGTON -- The U.S. will bolster its conventional deterrence against China, establishing a network of precision-strike missiles along the so-called...