Mike Norman Economics

Capitalism is dependent on credit, so financial crises serious enough to threaten the capitalist system must be resolved by socializing losses. The alternative is financial collapse leading to economic collapse and social chaos. Central banking and credit regulation were instituted at the heart of economic liberalism to correct the risk inherent in this type of system.The New Indian ExpressIs a full-blown global banking meltdown in the offing?Satyajit Das is a former banker and author of...

A short and insightful explanation of developing an economics with Chinese characteristics. Chinese economists recognize that there are universal elements underlying economics as a science, and they also recognize that there are temporal, historical, cultural, and civilizational factors affecting the study of economics. Conventional Western economics emphasizes the former and downplays the latter, so while there are things that Chinese economists can learn from Western economics, Western...

They always forget the other half of the equation.

Stephanie Kelton's response to Paul Krugman's criticism of Abba Lerner's functional finance.Lars P. Syll’s BlogMMT — Krugman still does not get it!Lars P. Syll | Professor, Malmo University

Gotta love those crazy monetarists. They're nothing but a source of laughs. 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

 I don't usually link to podcasts without transcripts, but this is worth mentioning.The MMT Podcast with Patricia Pino & Christian Reilly#162 Warren Mosler: Anatomy Of A Bank Run

Even if they go to the Fed to borrow reserves at par of their USTs they don’t have the capital to support the increase in reserve assets they borrow from the Fed…iow if they are sitting there in compliance with SLR of 0.10 …. A-L=C…. Use the SVB reported numbers….  200-180=20… (A-L)/A = 0.10 ….. ok everything is fine.. somebody comes in and tries to withdraw 20… they don’t have any reserves as RRR is 0%…   they pledge UST assets at par to borrow 20 reserves from Fed… now 220-200=20 … (A-L)/A...

Good!MAGA take on the current crises….

Polling indicating extreme negative sentiment… embarrassing…

Transcript.the AnalysisBill Black on SVB: A Bipartisan Clown Car CrashWilliam K. Black interviewed by Colin Bruce Anthes