Mike Norman Economics

Well now we have a better estimate of how far short the Australian government’s fiscal stimulus was when they introduced the packages in March and April. Massively short is the answer. The latest data release from the Australian Bureau of Statistics of the – Australian National Accounts: National Income, Expenditure and Product, June 2020(released September 2, 2020) – is now recording the first three months impact on production and income generation of the lockdowns. The Australian economy...

Modern Monetary Theory (MMT) argues that the interest rate on the national debt for a monetary sovereign is a policy variable, not subject to whether bond markets “accept” or “reject” it. This paper defines measures of the components of the standard analysis of fiscal sustainability. It then methodically describes the Federal Reserve's operations relevant for understanding why interest rates on government debt in the United States have been and continue to be driven by monetary policy. A...

It's all about the fiscal flows. That explains the rally. It's not "disconnected" as many think. But a correction could happen, but you need this first. 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

It's all about the fiscal flows. That explains the rally. It's not "disconnected" as many think. But a correction could happen, but you need this first. 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

Interesting from the perspective of effectiveness. Joshua Kim knew nothing of MMT before reading The Deficit Myth and apparently little training in economics or finance. He was under the illusion of the conventional view. The Deficit Myth convinced him of the major points regarding public finance and macroeconomics, but not with respect to the job guarantee. This is anecdotal evidence that making the argument for the MMT JG is a challenge. Maybe he should go on and read Pavlina...

Like it says, draft revision. Bond Economics The Monetary Monopoly Model (Re-Write) Brian Romanchuk

The Democratic Establishment is made up of losers.The InterceptRebuilding the Economy Will Require Joe Biden to Think Very Differently Than 2009 James K. Galbraith | Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin

This is Part 4 of my on-going examination of the concept of ‘duty to work’ and how it was associated with the related idea of a ‘right to work’. In Part 3, I extended the analysis to the Western democracies of the Post World War 2 period and found that progressive political parties and movements firmly considered the two concepts to be fundamental elements of a progressive society. In this part, I extend that analysis and consider ways in which the ‘duty to work’ has been justified, drawing...

When economist Thomas Picketty released his book ‘Capital in the 21Century’ people clambered to get a copy.  The filmmaker Justin Pemberton has since made the film – in it, he points hard to how rentier capitalism has disenfranchised the west.  Host Ross Ashcroft caught up with the Kiwi director to understand what needs to change if we want 21st Century capital to serve, not enslave us. [embedded content] Is Success Luck or Hard Work [embedded content]

Occasionally, Alastair Crooke hits one out of the park and this post is one of those. He reiterates a point that Alexander Dugin ("Putin's brain" NOT) makes foundational in The Fourth Political Theory. He argues that the twentieth century was about fascism and communism, and that that dichotomy no longer exists. Presently, the historical dialectic has shifted to the conflict between liberalism and traditionalism, which will occupy at least the first part of the twenty-first century, as...