by Summary:
Today delivered a very important education and message. 
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Mike Norman considers the following as important:
This could be interesting, too:
Today delivered a very important education and message. 
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Mike Norman writes The Accursed Tariffs — NeilW
Mike Norman writes IRS has agreed to share migrants’ tax information with ICE
Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius
| Today delivered a very important education and message.  |
Yea, I think the theory of Trading low cost, High quality products for an accounting entry. That theory needs a little work. They are not trading for an accounting entry. When I buy a product from Alibaba, I use digital money that I worked hard for. When I buy a product from the dollar store, I use funds that worked hard for. If I used money from my brokerage account, money that just multiplied out of capital gains, Maybe that Theory would be true. 50% of the people in this country are just getting by, working two jobs, when they buy something at the dollar store it is with money that they worked hard for?
My prediction? Trump will roll back the tariffs. He is a big opinion polls guy. He will pay attention to the declining polls. If he doesn't pay to have his own high opinion poll, he will roll back the Tariffs.
I don't think MMT people can ignore balance of payments any longer. The nature of the Trump tariffs point very clearly to a radically new monetary system like Keynes' bancor. You're entirely missing the essence of not only the conclusions reached by a lot of smart people when the United Nations was founded, but also the work of Robert Triffin.
There are real, structural problems with USD hegemony. It is one thing to create national currency for domestic use. It's much more complicated to supply the whole world with USD for foreign exchange. There are basically only three ways. Actual trade, which is increasingly difficult – hence the tariffs on actual trade. Foreign aid, which is never popular and DOGE is conveniently eliminating. . And swap lines, which also have real drawbacks.
Then we have the amendments to the Bretton Woods Agreement Act in 2020 two weeks after Covid. It allows the president to declare an economic emergency and borrow an unlimited quantity of special drawing rights from the IMF. While not functionally identical to what Keynes proposed, that is a matter that can be settled by treaty on the floor of the UN General Assembly.
The future is not gold, but a UN reserve currency unit. The concept, domestically, will be the same. The use of national currency for foreign exchange will once again be illegal.
Savings desires dictate who wants to hold what currencies, not U.S. hegemony, Zapp. The latter may have resulted from the former, not the other way around.
And the term "Balance of Payments" includes the word BALANCE. Maybe you missed that. The deficit on the current account exactly BALANCES with the capital account. There is nothing unstable, unsustainable, or unbalanced about it.
Invoking the U.N. as the arbiter for the global monetary system is hilarious.
@@mikeydoggy You know as well as I do that's not what balance of payments refers to. This is what Trump is rambling about – the tariff for each nation is a function of this imbalance. Why would the tariff seek this precision unless the goal was a new monetary system that in effect makes such imbalances impossible?
@@rbzapp there is no “imbalance.”
I agree with you 1000% as far as MMT. However, the US is on the verge of losing its issuer currency hegemony. Now that there are alternative currencies evolving that are safer and more immune to tampering by the issuer, then MMT runs into a problem. Now the US workers must lower their wages, work longer hours, take no vacation, etc., etc. because now they must compete with India and Bangladesh workers in manufacturing products to sell to the rest of the world very cheaply indeed.
The US never had any such hegemony, otherwise there would be no foreign holders of UK gilts. It's rather more complicated than the simplistic sermon handed out by neoliberals.
I have a different perspective. That robots and AI are cheaper than slave labour and shipping. The manufacturing will take place domestically but will create very few jobs to maintain the machine based infrastructure. No wages, as opposed to lower wages.
Elect an idiot narcissist this is what you get. You really need to bend over to defend this chaos.
lmfao
spot on
time to buy bitcoin. who tf wants dollars if u cant use it for shit?
I wouldnt know free trade from tariffs much less the lingo you toss around with ease. I was just a pipefitter but i can tell you know it all cold. Refreshing to hear a republican that questions the insanity. These are what they call the end times. It wont make sense because its chaos. Get a bible brother and read a little every day not for answers to the lunacy but for peace with it. This country has planted a breeze and will reap a whirlwind
Mike these so called accounting units created on the stroke of keyboard or money printing is the cause of world losing its faith in dollar.. Why should they sell us goods which cost money or so called dollars which takes no labor to produce it.
A dollar is nothing more than a unit of measure. A dollar is a measure of real resources it's the real resources that count.
2-1/2 trillion equity wiped out and biggest drop ever in one day to USD as per Bloomberg tracking. Good bye King USD 8.2 billion people on earth do not need to trade with 300 million americans.
Trump is a convicted Felon, and as he says you will have to suffer to reset world trade, meanwhile he has doubled his net worth in the last 12 months.
should’ve voted for someone else
Therein lies the problem. Look who the other option was.
@@billcarruth8122I get it , he seems like the better option at the time , conservative and business man
Buy the dip!
The debt was raised mostly when rates were 0% then came inflation and now there is an interest cost on that debt of around 1 Trln ? How long can this go and who pays the cost ? Get the net transfer concept of debt too can be an asset to someone else
And you voted for him thinking he had a deep understanding? Ffs man
Still waiting for the mea culpa on Trump. Trump is the reason this is happening. If you voted for him you made a mistake.
MMT has helped me understand Keynesian economics, which allows us to harness the power of the monetary system to organize society and create abundance for all.
I'm again reminded of the history of debt: first credit and debt, then money as a method of accounting, then barter with outsiders. Previously, if you asked me when credit was invented, I'd think of credit cards and say the 1970s.😹It's funny cuz it's 5,000 years old
I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good stock recommendation on great performing stocks will be appreciated…..
As a beginner, it is essential that you have a mentor to help you stay accountable. In my case, Marc Andrew Zabicki has guided me for years and I highly recommend him. I focus on him. To be honest, I'm almost hesitant to let someone take charge of growing my finances, but I'm so glad I did. ❤
I managed to grow a nest egg of around $120k to over a Million just within 4 months. I'm especially grateful to Adviser Marc Andrew Zabicki, for his expertise and exposure to different areas of the market.
well i am at $4.5 mil. Biggest positions PLTR, TSLA, SCHD, NVDA,BTC and now looking to build up DRGO alongside finding quality value & growth stocks to buy. I got $54k divs last time in taxable divs. Q2 taxable divs this year was $16,526 . don't sell when the market is down..
Marc Andrew Zabicki has made an incredible impact on the trading community. His guidance and expertise have helped countless individuals achieve their financial goals and his contributions have set a new standard for excellence in the industry. We're truly grateful for his dedication and hard work, and I'm sure his legacy will continue to inspire others for years to come.
how would you suggest i enter the crypto market? I am also looking at studying pro traders and using their strategy rather than investing myself . What's your take on this approach? and How can i reach him please??
I loved the game scorboard analogy!