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There is no debt.

Summary:
My new podcast is out. I talk about this. There is no debt. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

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My new podcast is out. I talk about this. There is no debt. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman There is no debt.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

20 comments

  1. Steven Mnuchin is currently United States Secretary of the Treasury.

  2. No blue wave. Early voting huge disappointment for Biden and with majority of Trump supporters voting in person on Nov 3 those same voters will flip the house.

  3. Biden win market up

  4. Thanks Mike.

  5. TheNull Hypothesis

    If you think you know so much, why don't you explain this, youtu.be/RTJF0l9oDmI , because you look like a total train wreck to me.

  6. Finance & Economics

    In my best Keanu voice impression, Whoa!

    https://youtu.be/RP8uhXuS2n8

  7. The dream team returns pure corruption.

  8. You are right about the debt.
    To me this is just a basic understanding of the market.
    Basically a market is all of the goods and services for sale in your currency.
    So a market requires three things.
    1. Buyers ( the people )
    2. Sellers ( the corporations )
    3. A common unit of Exchange AKA money.
    The money requires taxes to drive demand for the money.
    And to control inflation.

    Money cannot come from
    The sellers in the form of wages to the buyers because no matter how generous sellers cannot pay everything they earn in wages and it's common sense.
    So the only sustainable source of money in a market economy is the federal government.

    So the proper role of government money is to fund the buyers spending.
    Cutting taxes and increasing spending to the buyers will increase economic activity of the buyers.

    Cutting taxes to the corporations
    Will inflate whatever asset the corporations hold their money in.

    This all seems like market economics 101 to me but I'm just a dump truck driver.

  9. We could have some kind economic policy? Geez that would be interesting considering we haven’t had any in years.

  10. That's not the way the Federal Reserve sees the debt issue. You know… the people that have control of the monetary policy.

    • That's why we need people who understand government finance to run the Fed

    • Government money creation according to the parliament of Canada:


      How the Bank of Canada Creates Money for the Federal Government: Operational and Legal Aspects

      Since the Bank of Canada is a Crown corporation wholly owned by the federal government, the Bank’s purchase of newly issued securities from the federal government can be considered an internal transaction. By recording new and equal amounts on the asset and liability sides of its balance sheet, the Bank of Canada creates money through a few keystrokes. The federal government can spend the newly created bank deposits in the Canadian economy if it wishes.
      ..
      There is no external limit to the total amount of money that the Bank of Canada may create for the federal government.
      ..
      The Bank of Canada’s money creation for the Government of Canada is an internal government process. This means that external factors, such as financial markets dysfunction, cannot cause the federal government to run out of money.

      https://lop.parl.ca/sites/PublicWebsite/default/en_CA/ResearchPublications/201551E

  11. He's so happy today. I'll have what he's having.

  12. Hey Mike you got a pretty good voice kid. I noticed a few debt idiots left some comments will they ever stop. Keep telling the truth and keep punching Mike

  13. Fabulous podcast, Mike. Love the new intro music. Love the old intro music as well.

  14. Shiela Bair for Vice President please.

  15. Great Podcast Mike!

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