Mike Norman Economics

Here is Episode 7 in our weekly MMTed Q&A series. This is the third- and final part of my discussion on the Job Guarantee with Dr Pavlina Tcherneva and in this episode we discuss the applicability of Job Guarantee to nations that have both fiscal and external deficits and are exposed to international currency markets. While such a nation faces somewhat different pressures from their external sector, the point remains that if they have their own currency, they can always ensure that all...

Those deferred tax payments are now due and payable. Tax collections are surging, meaning income and savings being reduced. 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

Full-time minimum wage workers cannot afford a two-bedroom rental anywhere in the U.S. and cannot afford a one-bedroom rental in 95% of U.S. counties, according to the National Low Income Housing Coalition's annual "Out of Reach" report.  In fact, the average minimum wage worker in the U.S. would need to work almost 97 hours per week to afford a fair market rate two-bedroom and 79 hours per week to afford a one-bedroom, NLIHC calculates. That's well over two full-time jobs just to be...

My girlfriend said to me this afternoon that her friend told her that the Tories were exaggerating Covid-19 to get everyone on welfare. Gee!A new study in the Proceedings of the National Academy of Sciences indicates that people who comply with social distancing guidelines have better working memory capacity, which is an indicator of intelligence. People who social distance may be more intelligent, study says

The conspiracists are saying that the government is exaggerating the Covid-19 epidemic to take away our freedoms, to tax us more, and to push Bill Gates's vaccines on us, and that the "controlled media" is in on the game, but is the opposite really the truth?If one major city can lay claim to having gotten the closest to herd immunity, it’s New York City, with nearly one in five residents testing positive for antibodies by the end of April, and more than two in five in some low-income...

Episode #7. 

Mainstream economists long ago accepted simplistic ideas of a market economy as a basis for analysis (with “money” merely a veil and thus safely ignored), making their entire opus largely useless. To avoid this error, better scholars highlight the profound social-organizing roles of currency systems: The tax/tax-credits system and the banking systems that build-out from it (the former organizes public goods, the latter, private production). For modern states these systems began to develop...

Lockheed Martin is an arms producer focused on advanced weapons and equipment, and China does not have many direct business with the company, Wang Ya'nan, a Chinese aviation industry expert and chief editor of Aerospace Knowledge magazine, told the Global Times on Tuesday. However, it is possible that China will restrict the supply chain of Lockheed Martin, as the company would inevitably import raw materials including non-metals, metals and minerals including rare earths from China, via...

Sputnik InternationalPompeo Says US Will Impose Sanctions on Some Huawei EmployeesPutin and Merkel Say There is ‘No Point’ in Sanctions Pressure Against Iran – Kremlin Threat of American Sanctions Behind Derailing of India from Chabahar Rail Project, Observers SayAt Least Three Ships on Fire at Bushehr Port in Iran, Reports SayPrivate Chinese Rocket Firm Galactic Energy Completes Key Engine TestGlobal Tech Giants Make A Beeline To India With Money Bags To Tap Potential Digital Market:...