Thursday , May 30 2024
Home / Video / A disease in the body.

A disease in the body.

Summary:
Bad beliefs are like a disease in the body. If the disease is not eradicated, it will kill the body. That applies to bad economic understanding. 

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

NewDealdemocrat writes The good news, bad news economy

Angry Bear writes Senators Oppose Georgia-Pacific Two-Step Process Avoiding Financial Responsibility

Radoslav Karadjov writes RobotBulls: Einsatz von KI und Blockchain zur Datenverarbeitung im Bereich der Kryptowährungen

Angry Bear writes People Moving Farther Out from City Centers to Avoid Exposure to Pandemics

Bad beliefs are like a disease in the body. If the disease is not eradicated, it will kill the body. That applies to bad economic understanding. 
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. @barbarakapernic

    Wharton and Penn eat breakfast with the devil.

  2. @dannywindham3295

    The so called national debt that doesn't exist and never has. The United States federal government doesn't borrow its own currency that it creates folks. I don't know what else to tell you. No one's grand kids will ever have to pay off. The national debt that doesn't exist. Thanks Mike

  3. @eatlaughandstupid4430

    take advantage of Congress by copying their trades.

  4. @frankperrott6048

    Trying to explain taxes don’t finance the government to the vast majority of people is impossible they just don’t get it. Also do you think that spending flow percentages have to go up for growth rather than just nominal spending? If you always spend $3 trillion every year the growth rate will slow but if you spend $3 then 3.3 then 3.63 would that help accelerate growth?

    • Because taxes are used to finance the government.

    • @frankperrott6048

      The government spends so you can pay your taxes. Money comes from the government otherwise it’s counterfeit. It doesn’t grow in a field. The amount is determined by how much the government decides to spend. This misunderstanding to the reason why very few are able to outperform the market while the vast majority just dump their money in managed funds which if you account for fees underperform over time.

    • @jarirutanen8762

      I​@@falinoluiz5962, if you restart the gov from the scratch, do you first collect taxes and then spend?

  5. Good to see you doing your thing.

  6. Thanks Mike. I got it.

  7. Mike I personally love ignorant people. If everyone was knowable and logical it would be very difficult to make money off them

  8. Thanks Mike, a lot of great information as usual. I do think we need to hold our elected officials accountable. In a first world country we can’t allow corrupt politicians to destroy our great Nation from within…principles and integrity count as much as discipline and knowledge, perhaps more. Cheers Mike.

    • First, would country? In some areas, yes, but when an economy is dependent on stimulus, most people who appear to be rich are broke. I think 2nd world country.

  9. " I can't change it…,you can't change it.. ", …..But WE can..!!!
    Be the change you want to see…..!

    Greed ,it's a hell of a drug!

  10. MMT is the most important information I have ever come across. One of the most significant things to do in life is finding out how things really work, including money and the financial system, the alternative is living in a pretend world, where all sorts of unnecessary ills will be prescribed to fix the pretend problems, we will end up with an uncivilized, unsafe and hostile society. The other advantage is you can help look after yourself by applying MMT to the financial markets.

    • @dannywindham3295

      After 10 years of advocating for M. M. T. It's good to see other people are getting. But the progress is very very slow very slow. Good for you.

  11. Mike you want a comedic example of someone who walks around about unfairness, check out Sebastian Maniscalco, his father's impersonate on stage, LOL

  12. @williamcohen2729

    Not just good financial advice, great life advice. Amazing how much sense you make, Thank you!

  13. You’ve been dead wrong twice, you said it would correct on the 15th but it went up, then you said it would rally into mid November when the fiscal flows peak but now it’s going down 😂

    • You either have wax in your ears or have a problem with comprehension. I said the rally was a surprise, but over-extended and not taking into account that GDP growth has slowed, so stocks were speculative. Now it's going down, a little later than I thought, but down as I called it.

    • I also said there was very little tax drain on Dec 15 and that was unexpected. Not the usual situation.

Leave a Reply

Your email address will not be published. Required fields are marked *