Mike Norman Economics

The discussion of the role in unemployment is a key theoretical divide between Modern Monetary Theory and mainstream approaches. Theoretical conclusions determine the suggested policy response of governments to unemployment. The structural changes to the labour market made by policymakers in the 1990s were based on following a theory.... One of the objections that conventional economists make to MMT is that it is "nothing new" and can be stated in terms of their models. One of the sharpest...

ADP reported a 2.5 mln job loss in May, but revised that to up 3 mln. These are crazy errors. 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

Final installment in the series.The Vineyard of the SakerBridging China’s past with humanity’s future – Part 3Straight Bat

Irrussianality Afghan Tales Paul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa Mint Press NewsAfghan Bounty Scandal Comes at Suspiciously Important Time for US Military Industrial ComplexPublic Outcry Follows Gilead Decision to Charge $3000 for COVID Drug that Costs Pennies to Produce Alan Macleod India PunchlineRussian bounty killing forces Trump’s hands on troop withdrawal from AfghanistanM. K. Bhadrakumar | retired diplomat...

Sign of success and competitiveness, or .…? The number of billionaires in the world is at a record high, and the U.S. is home to more than any other country. Fast CompanyThe U.S. is now home to nearly 800 billionaires, worth a combined $3.4 trillion Adele Peters

The “loss” of China in 1949 was perhaps the biggest blow to strike American hegemony in the post-World War II era, and it is felt increasingly to this day. During the past 70 years, Washington's strategy towards China has been to destabilise and fracture one of the world's oldest and largest nations. These imperialist policies have clearly failed to attain their objectives. Nevertheless US efforts to undermine Chinese power have been steadily growing over the past 30 years, in part spurred...

Scientists in Netherlands explore possible link between deficiency and Covid-19 deaths “My advice would be to take those vitamin K supplements. Even if it does not help against severe Covid-19, it is good for your blood vessels, bones and probably also for the lungs.” Janssen added: “We have [vitamin] K1 and K2. K1 is in spinach, broccoli, green vegetables, blueberries, all types of fruit and vegetables. K2 is better absorbed by the body. It is in Dutch cheese, I have to say, and...

Backgrounder. Long but important for understanding the ME and the Islamic world. I would not take any one analyst's take as definitive, but this seems to be a pretty good summary of a complex area both historically, complicated by the insertion of Israel, and geographically, because of the hydrocarbons in the ground. While it is considered a relative backwater now, it is the home of civilizational states and former empires — Assyrian, Persian and Ottoman.  These were superseded...

On this substack I rely on Modern Monetary Theory (among other bodies of knowledge) to inform my analysis. Yet, I rarely explicitly write about MMT (for my own introduction to MMT and an overview of what it has to say about the current crisis, see my written remarks from a speech I gave to a Federal Credit Union). Today though, I’m going to tackle a recurring issue that comes up in discussions of MMT that I think will benefit my substack audience. One of the claims Modern Monetary Theory...