Mike Norman Economics

Tax flows indicate a further slowdown in economic activity. Further stock market consolidation coming. 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

Interesting and about what one would expect from a digital-native generation. Looking good for the new program of "double circulation," that is, exports along with developing the consumer market domestically. That will mean breaking the traditional saving habit and Gen Z seem to be into credit.A modern consumer economy depends on three things — 1) low-cost plentiful desirable goods through technology and innovation, 2) demand stimulation through marketing and advertising, and 3) easy credit....

Divide and conquer.Zero HedgeFor What Are America's Wealthy Thankful? A Worsening Culture War: TaibbiMatt Taibbi

This was an incisive post from B. Gray, which I thought deserved much more attention:It follows:Austerity has two parents: greed and fear, both of which are powerful motivators among the wealthy elites and the politicians that do their bidding....Short.Elites fear if the public understood MMT and the power of the government purse, it would lead to anarchy in the allocation of real resources, which would lead to a reduction in the elites share of resources, as well as their influence in the...

 A seemingly strange phenomenon of a smaller dose of the Oxford-AstraZeneca Covid-19 vaccine being more effective than a bigger one is reportedly explained by it first being tested on a younger group.RTPuzzling higher AstraZeneca vaccine efficacy for smaller dosage explained: It was reportedly tested on people only under 56

Got that. Criticism now joins BDS. Right out of 1984.Middle East EyePompeo spells out the new normal: All criticism of Israel is ‘antisemitic’Jonathan Cook

Finally!The Case for Concerted ActionGita Gopinath On Fiscal PolicyV. Ramanan

A very good article here that comes closer than most to what I consider the crunch issue. The key point is that if a currency moves down so that imports become ‘more expensive’, then the ‘inflation’ that goes off is a distributional response that tries to eliminate some of those imports so that the exchange demands equalise. That also eliminates somebody else’s exports. The important thing to remember is that when a currency goes down, all the others in the world go up in relation to it and...

The decline of the dollar as a world currency has set a new record recently. In October, the euro replaced the dollar as the preferred currency for international payments for the first time in seven years. In the same month, the growth of the pound sterling and the Japanese yen as alternative models of global payment was impressive, indicating even more rejection of the American currency, until now considered absolutely hegemonic. About 37.82% of the money transfers that the Society for...