Mike Norman Economics

There’s a lot going for the Russian economy as 2020 kicks into its second month. Russia’s government reshuffle is seen as removing austerity constraints and speeding up the financing of Putin’s ambitious national development programs. In his speech to the National Assembly, Putin signaled the end of austerity on social spending, Russia being the only country in the developed world, which is now seriously increasing social spending (among other things, increasing pensions double the rate of...

Now Russia's main strategic secret is out and some more-or-less competent observations are being made. About time. Of course people in Financial Times do not understand the real size and scale of Russian economy and repeat same ol' monetarist BS (accidentally, responsible for driving US and UK's economies into the ground) that Russian economy's size is $1.7 trillion, but let's forgive victims of Wall Street make believe world of virtual, zero value added, FIRE economics, and concentrate on...

1. Profit as surplus labor or as a property-based claim One idea threatening to the defenders of the status quo is the recognition that profit income reflects capitalist property relations rather than productive contribution.…  2. Capitalist economies are demand constrained   The Keynesian or Kaleckian principle of effective demand may not seem quite such a hindrance to defenders of the status quo as knowledge of the nature of profit, but the motivation for its denial – at least in the...

Trade and invest using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Although I'm a vegan today, I consider myself lucky I was brought up on lard, butter, and milk which all came from grazed, grass fed animals, and so I got plenty of omega 3. My mum stuck to lard and butter even when all our neighbours and my friends went over to vegetable oil and margarine. Although these vegetable oils are a lot healthier now, they were full of artery clogging trans-fats in those days.Now these sugar alternatives look bad too, which can make epigenetic changes to offspring...

Germans are preparing to throw the weight of Europe’s biggest economy behind a plan to replace fossil fuels with the universe’s lightest element. Hydrogen production could be subsidized under a new German plan to fill in the energy gaps left by the country’s impending exit from coal and nuclear power, according to an Economy Ministry draft report seen by Bloomberg. Officials have tapped clean-burning hydrogen as the new oil to fuel transport, heating and industry. Bloomberg  Germany Taps...

In the modern world there can be a lot of loneliness. There are people everywhere, but do they have much time left after work? Suicide is the nation's 10th-leading cause of death, with 14.2 deaths per 100,000 people, though that rate alone belies the scope of the problem. While thousands of people die by suicide each year, millions think about it. In 2017, 10.6 million American adults seriously thought about suicide, 3.2 million made a plan, and 1.4 million attempted it, USA Today  George...

I guess the Clueless Hedge people never think that maybe the Millennials value thrift and largely don't like to see all the waste and garbage...  we throw out half of our food too... sheesh..Hey clueless hedge ever hear of E-Bay??? Nordstrom Starts Selling Used Clothes To Broke Americans https://t.co/yO6fkNhr0f — zerohedge (@zerohedge) January 31, 2020 Here are some Millennial-type videos out there that have lots of hits where Millennials are repairing and restoring older/used original...

The Netherlands has learnt to manage flooding. Climate-threatened countries are taking note The deniers on both the left and right keep telling me that the 'climate change hoax' is scam to raise taxes, but this is going to cost a fortune.  Over the next 45 years, the country spent billions building the Delta Works: a network of dams, dykes, sluices and storm barriers that is unmatched worldwide. Though most of the Netherlands is either below sea level or prone to river floods, the...

Current Reserve Assets at Depositories at $1,612B and that is with TGA up at $450B as of yesterday close... If Treasury runs the TGA down to $200B by March 1 as they did last year that would add $250B of  non-risk assets to Depositories in about the next 30 days...  that future balance of Reserve assets would then be $1,862B around March 1...  again if they run the TGA balance back down to $200B...(Unless Treasury changes their policy this year to keep the TGA more stable throughout the...