Mike Norman Economics

The invisible hand is more like a thumb on the scale for the world’s elites. That’s why market fundamentalism has been unmasked as bogus economics but keeps winning politically. A long read, but excellent.  Absolute freedom brings the opposite: oppression and control by the few. Libertarians and free market fundamentalists will give their blogs and sites names like, Liberty Radio, Liberty News, Learn Liberty, Freedom Radio, etc, but it's not freedom they offer, but enslavement:...

Treasury still doing these pop up issues of Cash Management Bills to increase TGA and draining reserves ie “unprinting money!” this week.... to Kudlow and the other Monetarists there this should be a (to them) a bearish policy as it is reducing their “high powered money!”... also is in direct conflict with their own quarterly funding plan which said they wanted TGA at 800b by end of JUNE... missed their target by $1T.... hard to understand...

Historical backgrounder.Andrew Batson's BlogChina’s security fears and the Cold War economy

Tesla soars over 1400. Wow. I took profits today. Stocks most overvalued in 18 years. 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/episodes

Backgrounder on an increasingly important area.The US is not hanging on in Afghanistan (Central Asia) to spread "freedom and democracy" or protect human rights. The interest there is strategic, as it must to justify the cost in blood and treasure.Indeed, the US is lot more active in Eurasia than most people realize, since most of what they hear about is Russia, China, North Korea, Venezuela, and the Middle East.For example, the recent kerfuffle in the "news" over Russian "bounties" is...

US will pose ‘increasingly severe threat’ to future Chinese development through dollar’s global monopoly Preparations for gradual decoupling and internationalisation of the yuan should begin ‘now’ I have been been saying this for some time. It's even more essential now that Chinese policy is shifting from export-led to consumption-driven.SCMPTime for China to decouple the yuan from US dollar, former diplomat urges Orange Wang

This program would provide a needed boost for our economy. Analysis shows young and low-income workers have been particularly hit hard by layoffs. Workers earning less than $20 per hour were 115 percent more likely to be laid off than those earning $30 per hour or more. And workers under age 25 were 93 percent more likely to have been laid off than those who are 35 and older. A WPA-like program in 2020 would create openings for safe job opportunities for the hardest-hit workers,...

I’m hardly the first to connect money creation with power. It’s been done countless times before. And yet many (most?) people still misunderstand money. Why? A good theory of money should explain this misunderstanding. Why — despite it being plainly true — do we recoil at the idea that anyone can create money, and as much of it as they want? My suspicion is that accepting this fact is difficult because it means accepting that our existing social order is arbitrary. Those who create...

How far the recovery can go depends on two factors, both of which are biased negatively: (a) How many firms have gone broke in the lockdown? (b) Whether the US states will have to reverse their lockdown easing in the face of a rapid escalation of the virus in some of the more populace states. But I do not see appropriate policy responses in place. The US government should have guaranteed all incomes and introduced large-scale job creation programs and a Job Guarantee as an on-going safety...

The purpose of this white paper is to publicly present the fundamentals of MMT. The Gower InstituteWhite Paper: Modern Monetary Theory (MMT) Warren Mosler