Mike Norman Economics

What if Social Security outlays start to go down? 

March and April tax drain will follow.

KaleckiThe Political Economy of DevelopmentJob Guarantee and Employer of Last Resort schemes: the political constraints on maintaining full employmentNick Johnson

 The US CPI data released yesterday showed that inflation continues to decline and the so-called ‘surprise’ that seems to have shocked the ‘markets’ are mostly down to the eccentric way the US Bureau of Labor Statistics calculates housing costs. The data provides no justification for further rate hikes in the US or anywhere else for that matter....William Mitchell — Modern Monetary TheoryUS inflation rate is declining – no case for further rate risesBill Mitchell | Professor in Economics and...

They sold today on a hotter than expected CPI but it’s the fiscal developments now that may help them. 

There’s no such thing as capital “flight.” Major Foreign holders of US debt. (Link) https://ticdata.treasury.gov/resource-center/data-chart-center/tic/Documents/slt_table5.html

 The title might better read, Why orthodox economics is an impossible science. While so-called orthodox economics fits this bill, it doesn't necessarily apply to so-called heterodox schools like MMT.One of the characteristic criticisms of MMY economists by so-called orthodox economists (like Paul Krugman) is "Where's your model?" For neoclassical" economists, who assume formalization as a sine qua non of doing economics, required methodological assumptions include "equilibrium and...

Former Central Bank governor lectures on the theories and practices of China's ambitious central bank digital currency.China appears to be the most ambitious among major economies to develop its central bank digital currency - the digital yuan, and we have covered its development before.On October 10, 2023, Yi Gang, China’s central bank governor between 2018 and 2023 gave a public lecture at Tsinghua University entitled 数字人民币的相关理论与实践 Theories and Practices Related to the Digital...

Short term trading is a short path to becoming broke.

Jones exhibiting the same lack of understanding about the monetary system as last year.