Mike Norman Economics

Neoclassical and credit approaches to money represent dramatically different theories of value. For many within the neoclassical tradition, the market exists as a conceptual enterprise – a place where independent agents compare and rank real goods, exchanging them afterwards to in accord with their preferences. That theory reflects a particular approach to value, identifying it as a pre-existing quality ranked by individual choice. The theory also generates a particular approach to money,...

Automatic stabilizers.  Automatic stabilizers won’t entirely eliminate the need for Congress to act when the economy tanks, since each recession has its own unique root causes that usually need to be addressed. In 2008, there was a housing crash and financial crisis; today, there’s a pandemic that’s shut down normal life. Lawmakers will still have to come up with solutions to tomorrow’s calamities as they arise. What stablizers would do is spare our elected officials the need to reinvent...

From the video I put out the other day, but that was two hours long. [embedded content] Transcript here :CIA Fabricated Russiagate "Evidence", Says Former NSA Tech Chief | Zero Hedge William Binney of the NSA Discusses True origin of Russiagate [Excerpt]

You be the judge.Moon of AlabamaTikTok - How The White House Helped U.S. Investors To Raid A Chinese Company

VIENNA EXPOSES FINANCIAL TIMES LIES AND COVER-UP Austria officially confirmed this week that the British Government’s allegation that Novichok, a Russian chemical warfare agent, was used in England by GRU, the Russian military intelligence service, in March 2018, was a British invention. Naked Capitalism  John Helmer - AUSTRIA CONFIRMS OPCW REPORT ON SKRIPAL FAKING BY THE BRITISH ORT ON SKRIPAL FAKING BY THE BRITISH

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The antibodies may diminish in time, but the body will still have sufficient immunity.Dropping antibody counts aren’t a sign that our immune system is failing against the coronavirus, nor an omen that we can’t develop a viable vaccine.The Telegraph  Scared That Covid-19 Immunity Won’t Last? Don’t Be

I've read that academics believe that the majority of anti-vaxxers will change their minds and have the vaccine. There will still be a hard-core minority that will continue to resist, but it might not matter too much, especially if many of them get naturally immune.The Trump administration anticipates launching a far-reaching promotions campaign by November to encourage Americans to get vaccinated against the coronavirus, contingent on evidence that a successful vaccine will be available...

Russia also has other vaccines soon to be ready.Russia expects to start mass anti-coronavirus vaccinations, across the country, by October, the country’s health minister has said. Mikhail Murashko added that medical workers and teachers will be given first priority. Russia hopes to become the world’s first country to have a Covid-19 vaccine approved. Normally vaccines take years to develop and properly test – but, given the circumstances of the pandemic, many nations and pharmaceutical...

The data now clearly shows a spending slowdown has started. Next week it will accelerate downward unless Congress acts, and that looks unlikely. 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