Mike Norman Economics

This is super-significant. It's why I put "capital" and "labor" in quotes or use so-called capital and so-called labor. Peter Radford concludes. I realize that this is very crude, for which I apologize. It began this morning in my rejection of the word capitalism, which is a distraction from our understanding of the creative process we apply to our environment to make the stuff we both like and need. But I do see the economy as a cycle of creativity wherein our skills are enabled by what we...

This is Part 2 of the two-part series which focuses on the question: If governments are not financially constrained in their spending why do they issue debt? Part 1 focused on the historical transition of the monetary system from gold standards to the modern fiat currency systems and we learned that the necessity to issue public debt disappeared as fixed exchange rates and convertibility was abandoned in the early 1970s. However, there are many justifications for continuing to issue debt...

They say dog owners get to look like their dogs in the end.

It's the Russians. See? (Sputnik International is sponsored by the Russian Federation.)Sputnik International‘No Quarter’: US Senator Tom Cotton Calls for Military Invasion of American CitiesSputnik International‘You Have to Dominate’: Trump Blasts ‘Weak’ State Governors, Urges ‘Take Back Your Streets’See alsoFormer National Security Advisor Susan Rice "confirms" it.Zero HedgeSusan Rice Goes Full Conspiracy Rant On CNN: 'Russians Behind Race Protest Mayhem!' Tyler DurdenThen, this,Not to be...

This is the first time in my recollection that China has ever criticized human right in the US the way that the US regularly does China. I have often wondered about it. Well, it appear that era is over. I doubt this is tit-for tat. The Chinese leadership would not be taking this decision if they did not  perceive US leadership declining, China rising, and a vacuum asking to be filled.That said, China and Asia in general, are not free of ethic exceptionalism and of superiority of...

US confrontational behavior increasing. Boys and their toys.SouthfrontU.S. Strategic Bombers Trained Strikes On Territory Of Russia When They Were Intercepted By Fighter Jets Over Black SeaAlso at SouthfrontDrone and robot swarms and swarms of swarms. The direction that militaries are taking.Technical And Operational Sspects Of Robot Swarms: UNIDIR ReportProtests In U.S. Couldn’t Last A Week Before Being Blamed On Russia

Quite a good one from Mark Blyth. He says the US economic system is like a Mustang which has been prioritised for maximum speed but with less spent on safety features. Europe is more like an Audi, he continues, which may be slower, but it has loads of stafety system - crash it, and you will probably survive in one piece.Europe’s automatic stabilisers may be expensive but they can greatly minimise the harmful effects of an economic crash or a natural disaster, like a pandemic. The UK is a...

Esther Duflo, Stephanie Kelton, Mariana Mazzucato, Carlota Perez and Kate Raworth are united in one thing: their amazement at the way economics has been defined and debated to date. Their incredulity is palpable.... Like Dorothy in The Wizard of Oz, when they get a glimpse behind the curtain, they discover the machinery of power can be more bluster than substance. As newcomers to the game, they can often see this more clearly than the long-term players. Henderson cites Tom Toro’s cartoon...

Police brutality pushes America over the edge and ignites chaos. Society in breakdown. The world is watching. Trade and invest using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Lee Merritt and Benjamin Crump, attorneys for the families of the three victims of police brutality mentioned above, have announced that they intend to bring a case before the United Nation Human Rights Committee on behalf of their clients and seek sanctions against the United States for violating the human rights of African Americans. Should they be successful in this legal endeavor, it would be almost unprecedented and significant. But certainly not new. Other minority groups have...