Mike Norman Economics

US can't let go of a changing status quo and creates a fantasy instead, Patrick Lawrence relates.Consortium NewsPATRICK LAWRENCE: Cold War Escapades in the Pacific Patrick LawrenceSee alsoBNEKhamenei tells Iraqi PM Iran will strike reciprocal blow against US for its killing of commander Soleimani

I have been bearish on the dollar based on fundamentals. It's 2-year rally (2018-2020) was driven by emotional portfolio shifts, but I always knew the primary downtrend would resume, and have been positioned accordingly. 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

Back in China, the biggest news overnight was that Jack Ma’s Ant Group is seeking a valuation of more than $200 billion as it goes public in Hong Kong and Shanghai.  Who needs Wall Street?Zero HedgeJack Ma’s Ant IPO Signals Start Of De-DollarizationYe Xie, Bloomberg

Originally called The Landlords Game, Monopoly can be used to illustrate modern monetary theory Hint: Opportunity for someone to design an MMT-based educational game.Business Day (SA) — Letters to EditorLETTER: Monopoly bored game needs a reality update Winston Travis

Transcript Barron'sAmerica Doesn't Have a Debt Problem, Economist Stephanie Kelton Says Jack Hough interview Stepahanie Kelton

Last week (July 14, 2020), a former deputy governor of the Reserve Bank of Australia (RBA), Stephen Grenville wrote an article – Modern Monetary Theory and mainstream economics converging. The title suggests a gathering of minds between two paradigms – the degenerative mainstream macroeconomics and the emerging Modern Monetary Theory (MMT). I wouldn’t represent what is happening in that way. Convergence implies a harmonious process. The reality is that some of the mainstream...

Brazil is arming up.SouthFrontIn Major Defence Policy Shift, Brazilian Defence White Paper Advocates Preparing For Possible War With Neighbouring CountriesSee alsoSCMPChina steps up shipbuilding with two more aircraft carriers under construction towards 2035 navy goal [of six]Sputnik InternationalPhotos: China Begins Final Assembly of Next Two Advanced Aircraft Carriers, Aims for 2021 Delivery GEFIRAChina expands amphibious forces in challenge to U.S. beyond Asia TASS Navy...

… A guaranteed alternative job replaces bank credit manipulation [by monetary policy] as the stabilisation process. The production system gets a change in output, not a dead loss. You get income in your pocket, not a debt millstone around your neck. And that's how you get to true full employment and price stability within an economic system where demand is satisfied. New Wayland BlogThe MMT Approach in a NutshellNeilW

The last six months, governments around the world have almost unilaterally committed an auto-destruction of their socioeconomic fabric and collectively of the global economy. It may never return to the “normal” of the times before COVID. That, per se, may not be a bad omen, though, as our pre-corona existence – especially in the west – was everything else but an ethical “normal”....  Anti-neoliberal screed. The tide is turning against neoliberal globalization and totalitarian capitalism,...

The seasonal phenomenon known as "sell in May and walk away" that stock market investors know may be happening in August. 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