Mike Norman Economics

The IMF still doesn't really get it (MMT).Multiplier EffectThe IMF as Deficit Owl? What’s Wrong with This Argument?Jan Kregel | Professor of Finance and Development at Tallinn University of Technology, Tallinn, Estonia, adjunct professor at Johns Hopkins SAIS (SAIS), whose Bologna Center he co-directed in the late 1980s, visiting professor at the University of Missouri–Kansas City, and a Senior Scholar at the Levy Economics Institute of Bard College; formerly Chief of the Policy Analysis and...

China enters 2021 economically stronger relative to major economies than anytime since 2009. This apparent strength creates extremely high expectations for China to deliver on its forecast economic recovery, on its rollout of vaccines in China and beyond, and on stabilizing its geopolitical relationships. In a year when avoiding major risks and sources of instability remain paramount, China’s leaders will find it harder to keep the economy on track than anticipated....McKinseyWhat can we...

This applies not only to marketing and advertising but all forms of persuasion, such as PR and propaganda. It's not new knowledge either, only a different way (facial recognition) of confirming what is already known, e.g., by cognitive scientists like George Lakoff who have written books on now to use this knowledge in political persuasion.Harvard Business ReviewWant Your Ad to Go Viral? Activate These Emotions.Jonah Berger | professor at the Wharton School of the University of Pennsylvania

SWIFT, the global system for financial messaging and cross-border payments, has set up a joint venture with the Chinese central bank’s digital currency research institute and clearing centre, in a sign that China is exploring global use of its planned digital yuan.Other shareholders of the Beijing-based venture include China’s Cross-border Interbank Payment System (CIPS) and the Payment & Clearing Association of China, both supervised by the People’s Bank of China (PBOC), according to...

The labour market is a key driver for business cycles. Within standard economic models where production is mainly a function of capital and labour (and productivity which determines the multiplier from these inputs), given that productivity is normally fairly stable, we can only generate a recession via a drop in employment. (The recession of 2020 provides an example of "productivity" dropping as a result of governments shuttering activity, but even then, the mechanism for lower production...

The reason that I’m writing a new version of Super Imperialism is that I was asked to by China, and I thought, “As long as they want to bring out a new translation and basically an update of the book, I might as well do it in English too.” I bought the rights back from Pluto and in about two or three months I will be reissuing the English language edition. The context for de-dollarization today by China, Russia and other countries is basically “How do you make an alternative to an...

“If the current budget resolution shows anything, it is that this Administration does not see the ballooning federal deficit as a problem,” Sen. Lee said. “A modern monetary theory-inspired spending spree would be disastrous for the American economy and the American way of life. “The Cancel the Coin Act removes a legal loophole that allows the Treasury Secretary to bypass the statutory borrowing limit by minting platinum coins of any denomination. In doing so, this legislation ensures the...

Movie 1917 unbroken shot; 9 minutes:[embedded content]Mike unbroken 10 minutes; topic more complicated:[embedded content]Both NOT easy....

Many people have the wrong understanding of reserves. Hopefully this clears some of the misunderstanding up. 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/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman