Mike Norman Economics

Today, the Australian Treasurer is out in force telling us that the fiscal situation is dire and that they have to start making cutbacks. Meanwhile in the real world, the unemployment rate continues to rise, businesses continue to fail, and the lowest paid workers, are being forced to continue working in dangerous health situations because they cannot ‘afford’ to stay at home like the better paid workers and protect their health. Its doesn’t bear scrutiny. My research centre released...

Unless the euro is abandoned it is looking more and more choosing between totalitarian international capitalism and populist nationalism. Lars P. Syll’s BlogWhy the euro has to be abandoned if Europe is to be savedLars P. Syll | Professor, Malmo University

Gasoline, distillate, jet fuel, crude demand, all down. Signs of a weakening economy? 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

One of the reasons COVID-19 spreads so fast is because it creates Covidiots. These people think COVID-19 no big deal and spread the virus everywhere. It's a smart virus. [embedded content]

Meanwhile, gold standard advocate Judy Shelton's confirmation to the Fed is advancing in the Senate.Zero HedgeDeutsche Bank's Top Credit Strategist Makes Stunning Admission: "I Am A Gold Bug; Fiat Money Is A Passing Fad In The History Of Money"Tyler Durden

 Progress. Progessives seem to be having an impact.The InterceptDemocrats Unveil Draft Foreign Policy Platform With Promises to End "Forever Wars" and "Regime Change" Alex Emmons

I’ve complained before about the habit of the intelligence community of inviting evidence from a very narrow group of experts, occupying what can only be called an extreme position. Well, here we go again.…Applebaum, Browder, Donnelly, Lucas, and Steele. Really??? I’m assuming that most readers know these names, but just in case you don’t, it’s like they’ve pulled in all the most discredited, Russophobic ‘experts’ they can find, and ignored everybody else who has any sort of knowledge of...

Here is my latest podcast. Enjoy.

  Interview with Bill Mitchell.   Yahoo Finance AU How Australia could reduce unemployment to 4% in 12 months Anastasia Santoreneos, Yahoo Finance AU

Important observatin by Geoffrey Hodgson on marginal productivity and system embeddedness. Conventional economists don't do systems well, as Keynes showed in their overlooking the fallacy of composition, a freshman mistake.In the Cambridge Capital Controversy, Piero Sraffa and Joan Robinson called attention to a similar mistake regarding the use of "capital" in neoclassical modeling.The list goes on.MMT economist have also pointed out many such obvious mistakes regarding money & banking...