Mike Norman Economics

It's all about the fiscal flows. Spending and taxation. You ignore this, you have no real idea what's going on. It's all MMT. 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

Caitlin Johnstone — Rogue Journalist‘Confirmed’ Has Become A Meaningless Word In Mainstream News Reporting Caitlin JohnstonSputnik International (not so hybrid warfare)Pompeo Announces US Sanctions on Venezuela's Maduro, Iran's Ministry of DefenceSputnik International (Civil war watch)US DoJ Brands New York, Portland, and Seattle as Cities That Permit 'Anarchy' Sputnik International (START and stop)Russian Deputy FM Says It's Unlikely That New START Treaty Will be Prolonged Sputnik...

Deal on. Deal off. Trump hardens the US position.China won't approve of any deal that cedes the tech or mugs ByteDance anyway (See below). The Chinese are supersensitive to what they perceive as humiliation.So the US coalition would have to buy just the shell to get control. That would mean immediately replacing the software.Let's see who blinks. I don't think it will be the Chinese government ("CCP"), which would be OK with TikTok being shut down in the US.Sputnik InternationalTrump:...

Pretty shocking numbers if wealth being hoovered up.Note that the UBI is supposed to address the effects of inequality — but won't. The obvious way to do this is to preempt economic rent extraction and mop up the residual by taxing it away. But that would require a shift in political power relations.Occasional Links & CommentaryInequality in the United States—pandemic edition David F. Ruccio | Professor of Economics, University of Notre DameSee alsoCounterpunchTrump’s Destruction of...

Many issues that become ‘hot topics’ in public debates are really non-questions despite the heat they raise. All sorts of experts advance views, television current affairs programs trawl over them with various of these experts making careers for themselves, politicians take up hours of their time and our time discussing them, yet, when you really break the issue down – there is nothing much to see. The seemingly very erudite debates, discussions, opinions are all based on false starting...

Third-party analysis of the deal, which looks now like it is going to happen with a compromise. Actually, it looks like a win-win even if ByteDance did get mugged, which also hurt America's reputation as open for business. But in the end, the pie will most likely grow much bigger with US backing and global expansion guaranteed.Conversely, in US politics neither side is willing to compromise, so the system seems to be headed for gridlock, showing again that politics is not like...

America's "paper of record."Moon of AlabamaNYT First Reinforces, Then Silently Debunks Its False Claims About Russia's Covid-19 Vaccine See also Pew Research (17 Sep 2020) U.S. Public Now Divided Over Whether To Get COVID-19 Vaccine Alec Tyson, Courtney Johnson and Cary Funk

In between editing my MMT primer, I read a burst of articles (20+) discussing government debt management in the current situation from non-MMT sources (have to see what the other side thinks). Mainly market commentary, but also op-eds from ivy league professors or other highly credentialed people, think tanks, maybe a rating agency, etc. -- but no journal articles (if one is sensitive to that sort of thing). As one would expect, the articles covered a wide range of political views and...

The "pro democracy liberal" Putin critic the West champions. Russian opposition politician Alexei Navalny advocates for gun rights in Russia, while comparing immigrants and Muslims from Russia's southern regions to cockroaches and suggests they need to be exterminated.Video: Alexei Navalny Compares Muslims to Cockroaches, Supports Gun Rights in Russia[embedded content]

Deadlock is a real possibility. Will markets discount it, and if so, at what point will it be visible in price changes. These are pending questions. There is going to be intense political maneuvering.Zero HedgeNuclear Scenario For Markets Emerges In 'Jaw-Dropping' SCOTUS/Election Plot-TwistTyler Durden