Don’t be trapped by dogma! [embedded content] This one is for all my students. Never give in. Never give up.

2023 data begins with another lesson: the remedy for high prices is – high prices  – by New Deal democrat And so, another year begins. And kicks off with a look at the leading housing sector. And furthermore, there is even some good news. Total construction spending in November rose 0.2% for the month, while the more leading residential construction spending declined -0.5%. While total construction spending is only down 0.6% from its recent...

Zoltan Pozsar is back with his stories about “Bretton Woods III” and the petro-yuan. (The original report is presumably for bank clients, but I found this summary by ER Valasco.) Although developing countries trading with China might take these developments seriously, from the perspective of the developed economies, how third parties arrange their affairs has limited domestic impact.I initially had a longer response, but once I looked it over, I decided it was too weak. I will instead offer...

Everyone is telling you 2023 is going to be horrible. Should you believe them? 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://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

How economics has become a religion Economics today has — as we all know — become a “the model is the message” discipline. But as long as it does not seriously argue and assess the compatibility of those models and their real-world target systems, the belief that those models in any essential way enhance our possibilities to understand or explain what happens in our economies, is a belief for which there really is no other ground than belief itself. Even if...

An brief introduction this time to Prof. Heather’s commentary. I am taking the opportunity to embolden the beginning of the three points Prof. Heather makes. Within those points, I also chose to emphasize a part of those points by italicizing them. The cost of healthcare and in this particular instance, insulin is one of those items. The use of Insulin is approximately 100 years old. There is no secret formula or advanced technology to it. One...

Archimedes is said to have to have said, “Give me a place to stand and a lever and I shall move the earth.” They say, “Give us a seat and we will screw up The House of Representatives, the Nation.” They proved it. NRA said, “Here’s some cash.” There is no distance between the Freedom Caucus and the NRA. Forty-two current, give or take, with six of seven from southern states, nine of ten from red states, with noted alumni that include...