Mike Norman Economics

The Trump Administration’s 2021 budget calls for major new cuts in programs funded through non-defense appropriations. This budget category, often called non-defense discretionary (NDD), supports veterans’ medical care, aid to education, environmental protection, low-income housing, scientific research, infrastructure, public health, national parks, justice and law enforcement, job training, and many other important services and investments.[1]"THE BUDGET ABANDONS THE BIPARTISAN AGREEMENT...

So, I'm not the only one who loves doing nothing. Well, not all the time, but often. [embedded content]

More on the E8 lattice theory, but this time without the mysticism. [embedded content]

I will write a detailed account of my view on how to deal with the coronavirus from an Modern Monetary Theory (MMT) perspective next week. But today I want to highlight something that just ‘goes through to the keeper’ (cricket reference meaning no-one pays attention to it) but is significant in understanding what is wrong with the Eurozone. I refer to information that is contained in the latest – Annual Report 2019 – released last week by the Deutsche Bundesbank. If you juxtapose that with...

Anti-EmpireBuying the Official Skripal Poisoning Story Requires Believing 40 Absurd or Implausible Claims…At the Same Time Rob Slane Dances with BearsCYBER SOLDIERS PENETRATE THE SKRIPAL CASE John Helmer Strategic Culture FoundationThe Myth of Moderate Nuclear War Brian Cloughley, British and Australian armies’ veteran, former deputy head of the UN military mission in Kashmir and Australian defense attaché in Pakistan Mint Press NewsWith Grenell Appointment, the Israel Lobby’s Foothold...

After digesting its massive theft of ideas, things and people from Operation Paperclip following the end of World War Two, the US wasted no time in designing and implementing the world’s largest network of commercial espionage that has ever existed, and one which still exists in vastly expanded form today – as we saw from the revelations by Edward Snowden.... Today, Echelon attempts to intercept and monitor every communications transaction transmitted by satellite, undersea cables, fiber...

I was hunting for the exact location of "Prince's Tavern" in Manchester in 1833 when I stumbled upon an Economist article from March 30, 1844 addressing the "practical consequences" of reducing the length of the factory working day from 12 hours to 10. I am always fascinating by the profound and enduring hostility of a faction of employers -- amplified by their mouthpieces in academia and the press -- to the reduction of working time. I'm amazed how often their bile and zeal leads them to...

Scott Fullwiler's article "The debt ratio and sustainable macroeconomic policy"* offers a very good introduction to Modern Monetary Theory's (MMT) stance on fiscal policy. It covers a lot of ground, making it hard to summarise. This article has some general remarks on why I recommend reading the paper as an introduction to MMT thinking. The key argument is that interest service is what matters for sustainability (and not the debt-to-GDP ratio) -- and that the rate of interest is under the...

The Powell Fed is the worst Fed since Volker. Maybe even worse. Trade and invest using MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Trump has a logical point here... maybe Monetarism works differently in the southern hemisphere?Australia’s Central Bank cut interest rates and stated it will most likely further ease in order to make up for China’s Coronavirus situation and slowdown. They reduced to 0.5%, a record low. Other countries are doing the same thing, if not more so. Our Federal Reserve has us....— Donald J. Trump (@realDonaldTrump) March 3, 2020