Mike Norman Economics

Bitcoin struggling to remain relevant?Bitcoin ExchangeModern Monetary Theory (MMT) vs BTC to be the Main Event of 2020 AnTy

Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismRadical imagination and the intellectual edificeJim Vrettos interviews Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

I'm here in NYC. Epicenter of the coronavirus epidemic. Hard to stay focused but here's my outlook. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

My base case view matches what is priced into the markets: the crude oil market is glutted and demand is falling off a cliff. Storage constraints are in sight, and I am not seeing an immediate catalyst for a demand rebound. The nearly inevitable outcome is that drilling drops dead, and capacity is shuttered. At some point, one will be able to take the chart of U.S. crude liquid products (conventional oil plus the products of fracking), stick a red line through the maximum value, and all...

As the coronavirus pandemic rages on, the US Congress appropriated a whopping $2 trillion budget to tackle it (about 10% of GDP). The focus was on expanded unemployment benefits and cash assistance to families, as well as grants and loans to small firms and large corporations in hopes that they will halt the torrent of layoffs. Across the ocean, Denmark took a different approach. The Danish government announced that it would cover 75–90% of certain worker salaries for the next 3 months....

After the 2008 financial crisis, we learned the hard way what happens when governments flood the economy with unconditional liquidity, rather than laying the foundation for a sustainable and inclusive recovery. Now that an even more severe crisis is underway, we must not repeat the same mistake.... Project Syndicate Capitalism’s Triple CrisisMariana Mazzucato | RM Phillips chair in the Economics of Innovation at SPRU in the University of Sussex

Americans consume the most toilet paper in the world but it's a very wasteful product to manufacture, according to the numbers. Toilet paper consumption is unsustainable and requires a tremendous amount of resources to produce. Americans use the most toilet paper in the world and have been hoarding it due to coronavirus. Alternatives to toilet paper are gaining more popularity with the public. I was going to plumb in a bidet as it's dead easy to do, but some guy on Amazon said his...

Yves Smith: I think Modern Monetary Theory proponents have made acceptance of their ideas a bit more difficult by not drawing a bright line between their theory, which is a description of how government spending works in a fiat currency system, versus what they believe are resulting sound policy approaches, such as setting the price of labor (a Job Guarantee) rather than the price of money. Some folks seem slow on the uptake. How loud to MMT economists need to shout? (shakes head) Why...

Modern Monetary Theory (MMT) has been gaining more attention in Australia in recent weeks. I have been shifting my face-to-face speaking commitments slowly to on-line presentations. I will be announcing more systematic MMTed classes beginning via the Internet soon. And I will do some Live Youtube presentations as well. Last week, the well-known financial market journalist Alan Kohler used his weekly column in The Australian newspaper to discuss MMT – It’s Modern Monetary Theory time as the...

“The white-haired Republicans seemed to delight in breaking the new rules,” Coppins writes. “They made a show of shaking hands, and complained loudly about the ‘stupid hoax’ being propagated by virus alarmists. When their tee times were up, they piled defiantly into golf carts, shoulder to shoulder, and sped off toward the first hole.” Raw Story Some Trump supporters ‘delight’ in defying pandemic protocols to stick it to liberals: report