Mike Norman Economics

Today’s blog post is shorter than usual but you do get to access a hour-long video where I talk with Indigenous leader and activist Noel Pearson about Modern Monetary Theory (MMT), how it impacts on his perceptions of options to improve indigenous well-being in Australia, and how it informs a new collaborative venture we are in the process of putting together – JUST2030 – as a response to the socio-ecological crisis that three decades of neoliberalism and the fiscal obsession with surpluses...

Cascading closures, event shutdowns. Trade and invest using the concepts and understandings of MMT. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Making it even worse:BREAKING: Fed boosts money it's providing to banks in overnight repo lending to $175 billion amid sell-off https://t.co/X1DPuqcceT— CNBC Now (@CNBCnow) March 11, 2020

This is Financial Accounting not Regulatory Accounting but in any case the transaction here adds BOTH an Asset and a Liability: Currently, accounting standards require that repurchase agreements appear on balance sheets this way: First, repo borrowings are netted with repo loans when conducted with the same company, and only the net amount appears on the balance sheet.  Then (1) the borrower reports the net new cash as an addition to cash assets,  (2) it keeps the repoed securities in the...

Lucky Charms on the outs with Trump...Trump refuses to back Sessions in Alabama Senate primary, endorses football coach rival in major snub to former attorney general. https://t.co/508l0JH6Mm— John Solomon (@jsolomonReports) March 11, 2020

Strategy.New Economic PerspectivesMMT is a Political Problem: Part 1 Thorton Parker

Economists like to think in terms of demand and supply. Often by assuming the independence of the two, they make huge errors, none the least being when in the 1930s they advocated wage cuts to cure the unemployment arising from the Great Depression, on the assumption that the cuts would reduce costs for firms and encourage them to hire more. But they failed to understand that economy-wide wage cuts would undermine aggregate spending, upon which production decisions, and, ultimately,...

We are starting to more information on how things will play out. Right now, the big question is how closely the other European nations follow the path of Italy, as their case load seems to be just over a week behind. This article will just comment on policy responses, without having a good idea about the timing or magnitude of disruptions.... Bond EconomicsCrisis ResponsesBrian Romanchuk

Put/call ratio hit the highest level in 14 years on Monday. Trade and invest using the principles of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

How Columbus’ plagues sparked forest regrowth and global cooling A really interesting article which covers diseases, man's dark side, and the cause of the Mini Ice Age. Yoko Ono said recently tweeted - 'I love nature, but nature doesn't love me!' Anyway, if we plant more trees we can save the environment from anthropogenic climate change. The Black Death killed about 30 per cent of the European population in a few years in the middle of the 14th century. A century and a half...