Mike Norman Economics

Like I've been telling you, the market is going higher. But some new developments may be coalescing. 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/

A really good article by Jonathan Cook going into why many people believe conspiracy theories. After being lied to about Iraq and WMD, 9/11 - where the government wouldn't listen to people's concerns and extend the enquiry - and where we were told that neoliberalism would bring about a better, brighter future but we ended with something far worse instead, people just don't believe anything the establishment says anymore.In the past, science has sometimes been distorted by commercial...

At least some on the left are taking cognizance of MMT, but if this author is any indication, more study is required to understand what MMT is and what it is not. But at least it is a try.Green LeftCOVID-19 debt crisis: Is Modern Monetary Theory a solution? Neville Spencer

The coronavirus is going to teach — or, to be more precise, reteach — some hard economic lessons. One of them is probably going to be the need for policymakers to focus on money a bit less and real resources a bit more. It's called coming back down to earth. Hopefully, without crashing. But when you have been flying up in the clouds for so long..… In purely practical and material terms, all of these problems are entirely solvable. The problem is the abstraction of money: For the people who...

The total amount of government economic aid in response to the coronavirus downturn is expected to exceed $10 trillion. Our actions today resemble Modern Monetary Theory, a belief that sovereign governments with sovereign currencies can “print” or “coin” money to support full employment or essentially any government program. As we enter the post-pandemic world, do we stay with the MMT-based philosophy of spending, or do we transition to a philosophy that deficits are dangerous? CNBCOp-ed:...

It is Wednesday so music and some snippets. I have updated the US unemployment claims data with a new map and state table. Shocking. We are working on updated estimates of what the Australian government would need to invest to run a Job Guarantee. We haven’t done that for a while because I didn’t want the press to get obsessed with dollar amounts. But as I am currently talking a lot about the Job Guarantee in the media, I thought some numbers would be useful as a comparative exercise...

This will be the only thing that will matter... in the end... anything else will be too complicated...Sweden’s Wuhan death rate: 22 per 100,000 peopleU.S.'s Wuhan death rate: 18 per 100,000 + the Great Depression.https://t.co/vTEbUqQmoP— Ann Coulter (@AnnCoulter) April 29, 2020

We're fixated on the official data, which is bad enough. But we may be missing a bigger and more lethal picture The anti-vax, covid-19 conspiracists on twitter are saying that the government is lying about the amount of Covid-19 deaths. They say the government is mixing flu deaths into the figures, and that if people die of something else, like heart disease, but have COVID-19, then it is counted as a Covid-19 death. They say the amount is deaths is no higher than average.KV tweet We...

A Nation investigation illustrates the moral hazards surrounding the Gates Foundation’s $50 billion charitable enterprise. A good article on billionaire philanthropy. The wealthy can avoid paying taxes by giving away some of their wealth, but then invest this money into companies that greatly increase their wealth.Pharmaceutical companies looking for new markets in the third world will promote their drugs under the guise of philanthropy, when there maybe better solutions to public health...

You all know my attitude towards Michael Hudson as one the brightest economic minds of our time. Here is a quote from one of his latest interviews, as always, loaded with insights and food for thought.... Reminiscence of the FutureQuoting Michael Hudson.Andrei Martyanov