Mike Norman Economics

Buy the dip. Nothing has changed. I did 700 push-ups in one day! 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

 WW2 triggered governments in the Western world to make a bigger commitments to their citizens, eg, the New Deal in the US, the NHS in Britain, plus Social Security and Welfare etc. Since Thatcher, Reagan, and neoliberalism, this commitment became loosened, but could the Covid pandemic be another shock that will bring governments back in line to taking more responsibility for the well-being of all their citizens, not just the few?Governments will have to deal with the economic fallout from...

History of economics. So where does this leave us? Milton Friedman and Richard Nixon are both said to have claimed that ‘we’re all Keynesians now.’ That sure beat Classicism, as that term was used in the ‘70s. But we can do better – in a way that recovers what’s true, but not false, in both ‘Austrian’ and ‘Post-Keynesian’ economics. What’s true in them all is endogeneity – money’s endogeneity. And this in turn means that, insofar as we’re right and not merely cranks, we’re all Wicksellians...

Contrary to widespread belief, post-war Democratic US presidents have been significantly better for the American economy than Republicans have. There is every reason to believe that trend will continue if Joe Biden wins on November 3.Project SyndicateBiden’s Economic EdgeJeffrey Frankel

US President Donald Trump wears his recent experience with COVID-19 infection as some perverse badge of courage, rather than as a warning of what may lie ahead. And the adverse economic consequences of his administration's approach to the pandemic could not contrast more sharply with the robust recovery in China.Project SyndicateChina Leads AgainStephen S. Roach, a faculty member at Yale University and former Chairman of Morgan Stanley Asia

Sixteen Tons.The New Economics FoundationThis is your brain on neoliberalismAyeisha Thomas-Smith

The Many Worlds Interpretation of quantum mechanics holds that reality is constantly splitting.Conventionally speaking, there is a single physicist named Sean Carroll at Caltech, busily puzzling over the nature of the quantum world. In the theoretical sense, though, he may be one of a multitude, each existing in its own world. And there’s nothing unique about him: Every person, rock, and particle in the universe participates in an endlessly branching reality, Carroll argues, splitting into...

Capitalist production, with the development of the credit system, Marx noted, “constantly strives to overcome this metallic barrier, which is both a material and imaginary barrier to wealth, while time and again breaking its head on it.” Money in the form of precious metal, he insisted, remains the foundation from which the credit system “can never break free.” [Marx, Capital Volume III, p. 708, p. 741]…It is said there is really nothing new under the sun, and MMT, as advanced by Kelton, is...

Maduro hopes that the World Health Organisation (WHO) will ratify the results obtained by the IVIC and Venezuela will be able to prepare the mass production of this molecule as a cure for COVID-19 and provide it worldwide with the necessary international collaboration....Sputnik InternationalMaduro Says Venezuela Found 100% Effective Medicine Against COVID-19See alsoRTMaduro says Venezuelan scientists developed medicine that ‘cancels 100% of Covid-19’ with no side-effects

Today, I celebrate – my home town of Melbourne has recorded zero new infections for the first time since June 9, 2020 and zero deaths. But things are not so hot elsewhere in the world. As the US labour market started to rebound over the summer, I stopped updating my analysis of the claimants data horror story that had earlier demonstrated how sharp the decline in March and April had been. But I have still been monitoring it on a weekly basis and the information we are now getting from the US...