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Keep your eyes focused on the big picture. We're good until June. Then politics will be a key factor. Sign up for email list. Send me an email at [email protected]
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Keep your eyes focused on the big picture. We're good until June. Then politics will be a key factor. Sign up for email list. Send me an email at [email protected]
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Mike Norman writes Class
Mike Norman writes Episode 8 (S2) of the Smith Family Manga is now available — Bill Mitchell
Michael Hudson writes Beyond Surface Economics: The Case for Structural Reform
Nick Falvo writes Homelessness planning during COVID
| Keep your eyes focused on the big picture. We're good until June. Then politics will be a key factor. Sign up for email list. Send me an email at [email protected] |
speakin of zombie ppl, i won't be voting but i hope he wins cuz i wanna see heads explode again, huge entertainment value there.
@Hulk Smash!! Trump's numbers were good (real wages, price inflation, unemployment). Biden's numbers are weak
@boz You sure about them unemployment numbers? They exploded over Trumps shitty covid response. They're back down under Biden. Also, Trump still tried to be a dictator and overthrow the government.
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@Hulk Smash!! Trump inherited a U6 unemployment rate of 9% and took it down to 6.8%. COVID knocked it up to 22.9%, but by the time Trump left office it had halved to 11%. Biden continued Trump's trajectory.
"Trump still tried to be a dictator and overthrow the government" – Don't be a r3tard
You are wrong. American people are smarter than you think, to know why the economy will crash…
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The house Republicans are acting like Mafia. Tank the economy until people give them what they want (power) so that they will stop hurting them. People prefer the Democrats except that the Republicans will hurt them until enough of them give in and vote for the Republicans to make them stop.
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@𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽+①⑤①⑧⑥⑤⑦⑥①①③ 💩🤡
You do the date in the video everyday. If you also include your subscriber number and thanked the new subs it’d help too. Great title today too. Clickbait works.
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Need some pizza
LOL ….
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Trump would not get elected if it were not for three factors:
1. Every president from LBJ to Obama was so horrible or dismal.
2. Betrayal of Bernie Sanders primary voters in 2016
3. Reckless policies of Democrat run states like California.
Too bad the Anti-Trump hardly learned their lesson.
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Please folks to anyone who listens to Mike and knows how this game is played. Please call these Representatives please let them know that you aware of all this b*******. Thanks Mike
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Hi Mike, I've just been really enjoying your videos and studying MMT (I'm from an economic orthodoxy background), it all makes sense to me but there a few case studies I'm struggling to explain. For example, how was Australia able to reduce it's national debt down to 9% of GDP back in 2007 without causing major deflation and financial shocks?
@Robert Kelly – I meant to say as long as they don't export their sharks, spiders, scorpions, snakes and crocs, I wish them all the luck in the world with their mineral deposits and talent workforce. They can keep the critters though.
@Cley Hill Mike talks about the credit side of the economy all the time. If loans cannot be repaid on a grand scale, the economy weakens.
Exports are paid in whatever currency the buyer has. Foreign exchange agents facilitate the trade. Hence the enormous FX market.
GDP stays positive if import/export, net savings and government spending add up to more than zero. Imports, savings and taxes are a drain. Exports, dissaving and government spending are an add.
As long as the goods and services are in positive supply to back up all the various transactions, GDP continues on.
That's just conventional economics. Income/spending = Government deficit + Net investment + Consumption (credit) + Exports – Imports.
I thought MMT's insight was that over the long-term all those items net out to zero (since they are spent from a finite pool of funds) except the government deficit. Thus to grow the 'pizza' sustainably you needed to run a deficit as everything else ultimately stems from that.
Then looking at australia, if you run a persistent budget surplus you are necessarily removing (swimming pool analogy) water from the pool (corporate savings, bank collateral, consumer savings and foreign AUD savings). These pools are finite and self-correcting since these entities will eventually need to reduce spending to build back their reserves. Hence creating deflationary pressure.
@Cley Hill MMT's insight is that it is real goods and services that matter. The financial part is all politics.
Taking care of the population with public purpose in mind, in our case under a capitalist system. Having government serve the people, not the other way around.
Decisions about money and finance are all political. Humans create hierarchies and the games begin from there. There is no finite amount of money. It is created by powers that be. There are finite real resources though. Government has the ability to allocate real resources through the use of money creation, taxation and a credit structure.
MMT describes how all this works. Just telling it like it is. How government agents try to go out of their way to fuck it up means you have to pay attention to the government fiscal flows on top of the private sector flows.
And if it still matters, maybe participate in the voting booth and see how that goes.
@Robert Kelly that is awesome man
Let's hope the GOP can drum up a candidate that has a clue.
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👍 like
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Mike you need to write a book like Kelton has. Then maybe some of these lawmakers could read it. And the general public, too.
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Mike you are a weapon at Macro.
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Spot on
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💛💛💛💛💛💛💛💛💛💛💛💛👁
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Mikey, let's have a coffee roasting update, thanks amigo.
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If you think Trump is going to be elected again, you need your forecasting process examined
"the powers that be" won't let it happen
@Gordon Gekko you mean the people
@Gordon Gekko Reach me out
I'm a republican, but they have this major flaw, balance the books, crazy.
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Not a political anal ist either, but if you think this small group of Republicans who might force the debt limit t.o get their way that will create significant chaos to our economy and market — if that isn't a gift to the Dems!!! Biden may not be a candidate in 2024.
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It always comes down to Mike's over the top Liberal political views.
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Phenomenal video