Mike Norman Economics

Marxist critique of The Deficit Myth by MMT economist Stephanie Kelton.WSWSModern Monetary Theory and the crisis of capitalism: Part oneNick Beams

I think Trump may have us somehow short the CNY:Mnuchin is unlikely to release a FX report that was due in April until after elections, I'm told.@USTreasury has not issued any such reports this year. One was due this month. https://t.co/19c4RX3F4j— Saleha Mohsin (@SalehaMohsin) October 23, 2020 Remember this one:China dropped the price of their currency to an almost a historic low. It’s called “currency manipulation.” Are you listening Federal Reserve? This is a major violation which will...

Democrat morons all over the place reifying the figurative language and think they are real coyotes....  Same cognitive error  we see the econo-morons do with the figure of speech “money!” all the time.... When you employ figurative language as part of your dialogic method and the recipient does not understand it, the default mode is reification.... ie the recipient is left to think that the figurative is literal... Dialogic method is manifestly inferior...This is our public education system...

Looks to me like a sharp selloff, but underlying fundamentals will stay bullish for a while. 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

Short answer, no. Ramanan shows why and on the way explains how he thinks that sometimes MMT economists' expressions are either confusing or give opponents an opening to criticize them.The Case for Concerted ActionDo The Neochartalists Advocate “Printing Money”?V. Ramanan

Inspection of trends and changes in inequality gives a strong clue to the sweep of events. There are four trends and three distinct turning points. From 1963-1971, no trend appears, and changes in individual countries are for the most part small. After 1971, while inequality increases in some of the wealthy countries, in much of the world it is declining. After 1980, there is a radical change…. Real-World Economics Review BlogThe time trend in global inequality James Galbraith and Jaehee...

Here is the FT "kitchen sink" opinion piece by Stephen King, HSBC’s Senior Economic Adviser and author of ‘Grave New World’ without the paywall.Zero HedgeThe Bill From MMT: Higher Taxes, More Austerity, Rising Inflation Or Eventual DefaultStephen King

Regardless of whether it is called MMT, the trend is now mostly fiscal. Monetary policy is over as central banks "used up all their ammo" and the "bazooka" is still smoking, to no effect. We are entering new territory.OMFIFIt's mostly fiscalChristian Kopf | Head of Fixed Income Fund Management at Union InvestmentGeorge Selgin hates it.Cato InstituteGround Proposals for “Helicopter Money”George Selgin

They spent the last 34 weeks bearish and pessimistic. Now they are getting more bullish. Only now. 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

Good work!Tax Research UKFT Alphaville is convinced on MMTThe case for MMT: or why the FT is wrong to publish ill-informed arguments against itRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum