Mike Norman Economics

A higher quality clip can be found here. https://video.foxbusiness.com/v/6323472385112#sp=show-clips Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://www.pitbulleconomics.com Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

Moscow-based company Sistemma has created its own competitor to OpenAI’s ChatGPT, which runs entirely on domestic servers and in the Russian language. The project was unveiled on Sunday on the IT company’s official site. The AI is called SistemmaGPT (Generative Pre-trained Transformer) and is based on the company’s own developments, along with Stanford University research. The chatbot is intended for Russian businesses and government agencies.…The chatbot is currently in a work-in-progress...

The panel I am on is shifting its topic a bit to include some discussion of the latest crisis. Although this is more topical, it is not exactly moving in a direction that fits my knowledge of Modern Monetary Theory (MMT). I see two broad issues. The first is the discussion of bank failures (so far!) which I have a limited ability to comment on. The second is more useful for a MMT debate: interest rate policy is not exactly as costless as neoclassical arguments suggest....Bond Economics...

Cathie and Laffer with a pretty good breakdown… but it’s still tainted by their monetarism… you have to filter that part out..[embedded content]

I have read an interesting reports in the last months that demonstrate there is a shift in thinking about inflation – away from the tired narratives that attempt to implicate excessive government spending, poorly contrived monetary policies (particularly quantitative easing) or drag in the usual suspect – excessive wage demands from workers. All of the usual narratives are very convenient frames in which those with economic power can extract more real income at the expense of the rest of us,...

My hit time will be sometime between 2 PM and 3 PM Eastern time. I’ll update you during the day.

Earlier this month, little known Silicon Valley Bank – the bank for tech startups and Midwestern identitarians alike – collapsed in spectacular fashion after a good ol’ fashion run on deposits. Within 72 hours, the Fed, Treasury, and FDIC announced that they would make whole all SVB depositors, whether or not their accounts exceeded the $250,000 insurance limit. Beyond revealing that many tech wizards were less financially sophisticated than NBA star Giannis Antetokounmpo, the collapse and...

Michael Hudson's latest book. Michael Hudson turned 84 this month and he still keeps churning them out.Yves here. In a departure from our usual programming, below is the promotional material for Michael Hudson’s newest book, The Collapse of AntiquityNaked CapitalismThe Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning PointYves Smith