Mike Norman Economics

I have two days of teaching left in Helsinki and my next stop on Friday is Dublin where I will be discussing unification and exit. Should be a fun topic. Its Wednesday back home already and today I consider a matter that came up in one of my classes that I am taking in macroeconomics at the moment at the University of Helsinki. Students really struggle when first introduced to the idea of a stock and a flow. They can easily be led into defining a flow as a stock. Getting this absolutely...

Is the dollar really all that strong? Some perspective provides a clue. Trade and invest using the insights and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

The warmest January on record is making life difficult for oil and gas traders. It turns out that global warming isn't good for fossil fuel companies either.They are using artificial snow at some sky resorts.For global energy markets it’s a disaster—and as the world continues to get hotter it’s something producers, traders and government treasuries will have to live with long after the acute dislocation of the coronavirus has passed. The industry relies on cold weather across the northern...

Old one here from Stevie Wonder still applicable...Money line which I'm sure will go right over most heads here: “When you believe in thingsThat you don't understand,Then you suffer,Superstition aint the way” Oh well enjoy the music anyway....[embedded content]

Telling Congress that spending must be cut to prepare for the next downturn is totally ignorant and if followed, will create the next downturns. Get a 30-day free trial to MMT Trader. Trade and invest using the concepts of MMT. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

“Fiscally responsible” is one of the more Orwellian phrases in American politics. Lawmakers earn that coveted title by affirming the three tenets of the Beltway’s official budgetary orthodoxy: (1) Deficits are inherently undesirable, (2) all new spending (on things that cannot be used to kill foreigners) should be fully offset by new taxes, and (3) reducing America’s existing national debt should be a top-tier policy priority. But these premises are rooted less in economic science than...

I guess I cannot avoid commenting on the European Commission’s recently released (February 5, 2020) – Economic governance review – which, allegedly, “seeks to assess how effective the economic surveillance framework has been in achieving three key objectives: ensuring sustainable government finances and economic growth, as well as avoiding macroeconomic imbalances; … promoting convergence in Member States’ economic performance.” The short answer is that the framework has failed on all...

Caitlin Johnstone — Rogue JournalistPuppet Pete Says Revolution And The Status Quo Aren’t Mutually Exclusive Caitlin Johnstone The Grayzone Media darling Pete Buttigieg was in unit that worked with the CIA in Afghanistan Alexander RubensteinConsent Factory, Inc.by The Management (like The Onion)Bernie Sanders' Commie Kill Swarm (snark) C. J. Hopkins India PunchlineUS rolls out new Central Asia strategy M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service Internationalist...

In Chapter 1 of The General Theory Keynes famously refers to two “postulates of Classical economics”, one of which determines the demand for labour and the other the supply. He states that “I shall argue that the postulates…are applicable to a special case only and not to the general case”, with continuous full employment the “special case” and less than full employment the general case. In the context of later parts of The General Theory (for example, Appendix on User Cost and Chapter 20...

Chess champion's secret to success is very applicable to trading. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/