Mike Norman Economics

The US is the Indispensable Nation. [embedded content]

David Ruccio compares MMT with Marxian economics.Occasional Links & Commentary Modern monetary theory—pandemic editionDavid F. Ruccio | Professor of Economics, University of Notre Dame

Treasury has been accruing Reserves in the General Account to record high levels... here on Tuesday the account closed at $958B: A few thoughts on this new policy:Looks like what SOT Mnuchin has worked out is that he is allowing the Fed to acquire assets with new Reserves BUT he is "draining" them from the Depositories by increasing the TGA $4$ with what the Fed is doing and protecting the Depository System's Leverage Ratio from a catastrophic collapse... Its actually kind of a nice work...

Fiscal is surging. If they get the economy open it's bullish like crazy. This is MMT in action! 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/

Without strong mental game the market will just play with your mind. That's what it does. 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/

Sometimes things aren't propaganda, we will have to wait and see. But on Tuesday, the narrative flipped. It’s no longer a story shared by China bears and President Trump fans. Today, Josh Rogin, who is said to be as plugged into the State Department as any Washington Post columnist, was shown documents dating back to 2015 revealing how the U.S. government was worried about safety standards at that Wuhan lab. In fact, they were worried that one day, one of these experiments — including the...

It will help keep the economy going, so it's good for the wealthy too, like Jeff Bezos, so if would have been nice if Amazon had paid its fair share of tax. But this could save many businesses.The Emergency Money for the People Act, introduced by Reps. Tim Ryan and Ro Khanna, would give $2,000 a month to Americans over the age of 16 who make less than $130,000 a year. The payments would count zz_inue for at least six months and would last until unemployment falls to pre-coronavirus...

Ray McGovernAG Barr just signaled that things are about to get ugly for the Russia collusion team Strategic Culture FoundationHow to Get Rid of a POTUS John Quincy Adams Strategic Culture FoundationA Tiny Indicator of a Big Disruption Patrick Armstrong The Vineyard of the SakerAmerica’s rigged democracy: The oligarch takeover of America’s political system John Hellevig Zero HedgePrivate Army: Mark Zuckerberg's Security Cost Facebook A Whopping $23 Million Last Year Tyler Durden Zero...

The tragic situation in Italy depicts the insufficiency of the public health system to manage an extensive crisis. This is not an unexpected phenomenon. The capitalist system and its governments all over the world treat healthcare for the public as a cost that can only be provided at a basic level. The development of a high-level public health system needs a high percentage of funding from the government and bumps the profits of the capitalists. Furthermore, the example of Italy highlights...

Summers and Brown redeeming themselves.Project SyndicateDebt Relief Is the Most Effective Pandemic AidGordon Brown, former Prime Minister and Chancellor of the Exchequer of the United Kingdom, now United Nations Special Envoy for Global Education, Chair of the International Commission on Financing Global Education Opportunity, and Chair the Advisory Board of the Catalyst Foundation; and Lawrence H. Summers, US Secretary of the Treasury (1999-2001) and Director of the US National Economic...