Mike Norman Economics

Guardian editorial based on MMT economists Randy Wray and Yeva Nersisyan.As Yeva Nersisyan and Randall Wray of the Levy Institute have pointed out, the US government is engaged in relief, not stimulus, spending. It is offering much-needed assistance to the devastated balance sheets of households, school districts and local governments. Rescuing public services, making sure people don’t starve and building Covid-testing systems is not an economic stimulus but a necessary antidepressant....

Fascinating, plus a good brush up on how to improve my syntax and grammar. How is it that human beings have come to acquire language? Steven Pinker's introduction to the field includes thoughts on the evolution of spoken language and the debate over the existence of an innate universal grammar, as well as an exploration of why language is such a fundamental part of social relationships, human biology, and human evolution. Finally, Pinker touches on the wide variety of applications for...

 The Riddle of Consciousness Solved. AI may be superfast, but to compete with us - or to even outsmart us - it has to use enormous amounts of energy, whereas the human brain only runs on about 20 Watts. Why are we so efficient: Mark Solms says it's because we rely on feelings rather than stimuli and reaction like AI and machines have to do? With feelings, we can process a whole lot of things at once and make very good predictions and assumptions.I remember as a young lad and often being...

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There is a new variant of the global virus spreading again after being subdued throughout 2020. This is a very dangerous variant and if it takes hold will guarantee massive human suffering, and, a further, substantial shift in national income towards the top-end-of-town. I refer to the creeping infestation that is starting to pop up claiming that austerity will be required to pay for all the “profligacy” associated with government approach to the pandemic. I have seen this virus in the wild...

The action switches back to crypto's. Historic fiscal expansion underpinning this. 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

Neoclassical models are built around optimising behaviour. The logic for this is somewhat reasonable: one should expect the private sector to look out after its own interests, and not be tricked by policymakers into self-defeating behaviour. The aspiration is hard to argue against, the problem is the implementation. When it comes to recession analysis, the most blatant problems are in the modelling of household sector behaviour. Since working is voluntary, the hours worked in a period is...

 It's worth doing some yoga, pilates, or even just some plain stretching. Hypertension [or high blood pressure] is one of the leading preventable causes of cardiovascular disease. The preferred treatment for hypertension has long been moderate exercise. But a new study carried out at the University of Saskatchewan has found that merely stretching for 30 minutes is even more effective than a brisk walk.Universal SciStretching is more effective at lowering blood pressure than walking

Payroll employment highly subdued. 408 thousand workers exit the labour force due to lack of jobs. Overheating potential zero. In last month’s assessment – US labour market – things are getting worse again as the virus spreads (January 18, 2021) – I predicted things would get worse given the trajectory of the virus. I have formed a strong view that nations have to deal with the health issue before they can expect the economy to open up again. No nation can ignore a spiralling death rate and...

I’m taking the Bucs...  on defense...  (not a recommendation to blah blah...)