Mike Norman @mikenorman Twitter profile

Last Seen Profiles

@coldenvy

@talk_glory

@BreionK

@waahbete

@KAlexScott

@bigyanqiang

@DoubleDVixen

@nadyaariskah

@Web3WithBinance

@LowellSun

@CleoBabyyy98

@imtigertae

@EliteUKMistress

@RScountry

@AbwLyth88050

@Odin8887

@EndymionYT

@BBCNewsKorea_u

@esshconfessions

@wendybarclay11

@Cake_BFDI

@EnfieldCounty

@Haruka_mba

@ErnestScheyder

@BKNS_Finest

@_Sukuna___

@camsrecords

@kre_sign

@KaiserMotherof5

@Akua_patri

@GladiatorsTV

@fellarequests

@ItsaGunpla

@ST3AMCo

@Alinaxlova

@INABVESV

Mike Norman

@mikenorman

2 years

The ruble is the strongest currency in the world right now. Chew on that for a while.

275

2K

8K

Mike Norman

@mikenorman

2 years

Russian ruble now at 88, back to where it was on Feb 24 before Russian invasion. LOL! Sanctions working great.

76

722

4K

Mike Norman

@mikenorman

7 years

@realDonaldTrump you're a spineless leader who handed the executive branch to Congress. What a joke you are. Can't believe I voted for you.

52

97

402

Mike Norman

@mikenorman

2 years

Shocking to see a report like this from a U.S. publication. Truth.

28

217

370

Mike Norman

@mikenorman

6 years

@realDonaldTrump You're going to go down in flames, bro. I voted for you on your campaign promises. You went back on everything. EVERYTHING.

42

95

361

Mike Norman

@mikenorman

4 years

@SteveDeaceShow We are not losing our police. We are losing an unwanted paramilitary force that only knows how to submit and dominate. They need to go.

83

21

332

Mike Norman

@mikenorman

7 years

@nypost Ughhh....we can't get rid of these Clinton's.

13

27

248

Mike Norman

@mikenorman

2 years

NATO dropped 28,000 bombs on Yugoslavia in 1999. The media is curiously silent about that. NATO are the "good guys," I guess.

4

84

288

Mike Norman

@mikenorman

3 years

Congress just passed a $750 bln defense bill without any wrangling on how it will be paid for. Bipartisan all the way. Passed both houses of Congress without a hitch. Where'd the money come from?

35

97

283

Mike Norman

@mikenorman

3 years

Repeat after me: QE is an asset swap. No net increase in "money." Gov't securities exchanged for reserves. Gov't securities are cash equivalents.

50

43

208

Mike Norman

@mikenorman

2 years

@Cernovich US military "mystique" was on full display in Afghanistan for 20 years. And before that, Vietnam.

26

1

182

Mike Norman

@mikenorman

3 years

The national "debt" is not what we owe, it's what we OWN.

12

60

200

Mike Norman

@mikenorman

1 year

#MMT is not a policy. It's an explanation of how the monetary system works. Debating whether MMT was a success or failure is stupid. It's like asking whether physics or biology is a success or failure.

10

67

184

Mike Norman

@mikenorman

2 years

Frustrating that the national "debt" is so misunderstood. It will eventually lead to hardship, not because of its magnitude, but by efforts to rein it in.

14

46

186

Mike Norman

@mikenorman

2 years

Inflation = you got a job, but you gotta pay more for stuff or buy less. Recession = you got no job, no income. You can't buy anything at any price. Choose.

18

75

178

Mike Norman

@mikenorman

1 year

There is no national "debt." Period. Debt to whom? What is owed? This is the most ridiculous, idiotic argument that ever existed. It is a reflection of complete and utter ignorance and the total indoctrination (gaslighting) of a citizenry about a non-issue.

18

66

169

Mike Norman

@mikenorman

1 year

There is no such thing as "paying off the debt" when referring to the U.S. "debt." The "debt" ($32T) is just untaxed dollars held by the non-gov't. Paying it back would mean confiscating it...literally taking it all away. Ridiculous.

12

67

171

Mike Norman

@mikenorman

10 months

It is unavoidable that UBI has to happen, otherwise, society is going to unravel like never before.

24

44

163

Mike Norman

@mikenorman

2 years

More fear mongering about the national "debt." ($30T.) The debt is nothing more than untaxed dollars held by us, the non-gov't. It's our asset. It's what we OWN...not what we OWE. Think of it as the total $$ money supply.

14

54

152

Mike Norman

@mikenorman

3 years

$6.4 TRILLION spent on wars in Afghanistan and the Middle East. And no one ever asked, "How we gonna pay for it?" But repair our infrastructure? We ain't got the money.

8

54

151

Mike Norman

@mikenorman

2 years

Russia warned for 30 years about NATO expansion east. Many U.S. foreign policy experts and scholars foresaw this disaster. Yet U.S. hubris went forward with this terrible idea.

38

42

150

Mike Norman

@mikenorman

2 years

Those who were against a higher minimum wage because it will lead to job loss are now demanding the Fed raise interest rates, which will lead to job loss. See the hypocrisy?

6

50

154

Mike Norman

@mikenorman

3 years

The money to buy government "debt" (bonds) comes from government spending itself. Bond sales are a reserve drain operation. That's it. It's not borrowing. You have to fill up the swimming pool before you can drain it.

7

53

145

Mike Norman

@mikenorman

3 years

A currency issuing nation cannot "run out of money." Stop this needless fear-mongering.

5

44

148

Mike Norman

@mikenorman

1 year

When you play the game of Monopoly and are told to "pay tax," you are NOT funding the game. The game MUST distribute the money to players before anyone can pay tax.

9

43

144

Mike Norman

@mikenorman

5 years

@marcorubio Yes. Iran would attack 2 Japanese vessels when the Japanese Prime Minister was visiting Iran on a friendly state visit. Makes sense. #FalseFlag #CIA

5

15

121

Mike Norman

@mikenorman

3 years

At this point the only way critics of #MMT can attack it is by grossly misrepresenting what it states. Gross misrepresentation. That's it. They have NO argument. None.

14

43

139

Mike Norman

@mikenorman

3 years

The debt ceiling was created under the gold standard. Its intent was to protect the govt's gold so that it could issue money to spend. The effect now is EXACTLY THE OPPOSITE. It is constraining the ability to spend (and meet obligations). Get rid of it!

9

51

137

Mike Norman

@mikenorman

2 years

@SenSanders You voted to give $14 bln to Ukraine. What's up with that?

13

4

120

Mike Norman

@mikenorman

2 years

Rate hikes won't increase oil supply, bring back retired workers, unblock ports, make more computer chips. But they will kill demand by throwing people out of work. People were struggling with high prices. Now they'll struggle with high prices and no jobs.

6

58

131

Mike Norman

@mikenorman

3 years

You don't "do" #MMT just like you don't "do" physics. MMT is the understanding of how monetary systems work, specifically distinguishing between currency issuers and currency users. Physics is the study of matter, the universe, and the forces interacting on micro and macro scale.

21

42

129

Mike Norman

@mikenorman

2 years

Russia can pay its debts. Fed, ECB, won't process those payments. Who is the defaulter?

7

47

120

Mike Norman

@mikenorman

5 years

The military is a job guarantee program. The military is free education. The military is single payer health care. The military is a government funded R&D program. All this stuff works spectacularly, it just shouldn't be that you have to risk being maimed or die for it.

7

58

117

Mike Norman

@mikenorman

3 years

Cutting unemployment benefits doesn’t lead to job growth. Can we all agree now?

4

28

120

Mike Norman

@mikenorman

1 year

The sale of Treasuries is a reserve drain. That's it. It's not borrowing. Gov't doesn't need to borrow dollars. It is the issuer of the dollar. You can't even buy a Treasury until the government puts the dollars into the economy.

9

49

119

Mike Norman

@mikenorman

2 years

Rate hikes are price hikes. The cost of credit is reflected in the cost of all goods and services. Rate hikes don't squash inflation. They add to it.

10

39

117

Mike Norman

@mikenorman

2 years

#MMT is not policy. We don't *do* MMT. MMT is a description of how the monetary system works, just like physics is a description of how matter and forces of the universe interact.

21

41

117

Mike Norman

@mikenorman

2 years

The world‘s largest purveyor of misinformation (the US government) is creating a misinformation governance board.

11

28

103

Mike Norman

@mikenorman

8 months

Inflation would be A LOT lower if it were not for the Fed's rate hikes. The cost of credit is reflected in the cost of all goods and services. This is not part of their understanding/orthodoxy. Monetarism does not permit this view.

12

31

118

Mike Norman

@mikenorman

1 year

1/2 Someone tweeted, "How do we pay back the debt? Explain it like I'm 5-yrs old." Ok, here goes. The US doesn't borrow dollars. When the gov't spends it creates dollars. Some $$ are taken back via taxation, but there are some of those dollars the public holds as savings.

10

29

111

Mike Norman

@mikenorman

8 years

@AnnCoulter Totally agree unless Americans are stupid. And they are.

17

16

80

Mike Norman

@mikenorman

2 years

Argentina just raised rates again, by 300 bps. It's at 52% now. And inflation just keeps going up. Who woulda thought?

15

29

106

Mike Norman

@mikenorman

1 year

The "national debt" is one of the most misunderstood things ever. And it's a dangerous misunderstanding that can lead to really bad outcomes.

6

26

106

Mike Norman

@mikenorman

2 years

I pay ZERO attention to monetary policy, because it is largely irrelevant. But simultaneously, I understand that's the ONLY THING investors pay attention to. Tunnel vision focus on monetarism, is a form of mental illness. Thank Milton Friedman.

7

22

106

Mike Norman

@mikenorman

2 years

Biden will cheer the deficit's decline, but this is exactly what is causing the economy to contract. He won't connect the dots, nor will anyone around him.

2

23

104

Mike Norman

@mikenorman

7 years

@mmfa Nor are any one of their business contributors qualified to talk about business and economics.

2

4

87

Mike Norman

@mikenorman

3 years

MMT critiques frequently say, "Well, it may work for a large economy with vast resources like the U.S., but not for some small island nation with limited resources." You mean like Japan? England?

10

32

102

Mike Norman

@mikenorman

2 years

Russian "aggression." Russia troops are inside Russia. US troops are 5000 miles away. Who is the aggressor?

14

25

101

Mike Norman

@mikenorman

2 years

Fed'l gov't running an $18 bln surplus in January. Deficit has disappeared. Think that's good? Watch how bad the economy gets.

8

25

102

Mike Norman

@mikenorman

1 year

You can't borrow something until it first exists. Dollars are created when the US gov't spends them into existence. It doesn't then "borrow" them. The sale of Treasuries simply drains some of those dollars.

5

36

101

Mike Norman

@mikenorman

1 year

All the inflationista's who were screaming, "money printing" is causing inflation. Money supply is contracting by a record amount. Yet inflation is still hot. Why are they not screaming "deflation, deflation?" Monetarism #fail .

15

28

99

Mike Norman

@mikenorman

2 years

The "debt" is all the dollars spent by the US gov't over the years that wasn't taken back via taxation. It's dollars that the world holds. There is no debt. It's all been paid for.

11

31

98

Mike Norman

@mikenorman

2 years

Whose genius idea was it to make a mortal enemy of the country with the most nuclear weapons on the planet, then pressure it, disrespect it, sanction it, abuse it, paint it into corner? Let's hope humanity survives.

22

96

Mike Norman

@mikenorman

2 years

$40 bln to Ukraine was literally crafted and passed by Congress in days. But if we want to repair our infrastructure, get mothers baby formula, education, healthcare, etc, then endless debate and "How are we going to pay for it?" Such bullsh*t.

10

30

93

Mike Norman

@mikenorman

1 year

MMT is not a policy. Just like physics is not applied science. Physics helps us apply science. It's an understanding, a set of principles.

6

20

98

Mike Norman

@mikenorman

2 years

Voters DO NOT WANT HIGHER TAXES. Unless the f'cking clueless Dems understand that taxes to "pay for things" is obsolete they are doomed.

15

29

97

Mike Norman

@mikenorman

5 years

Payments to defense contractors are up $21 bln over last year. How did we pay for it? Why is this question only asked about social programs, but never about military and war?

6

49

90

Mike Norman

@mikenorman

3 years

Typical criticism of #MMT . "MMT says you can print money all you want without any consequence, like some magic money tree." No, it absolutely doesn't say that.

9

28

93

Mike Norman

@mikenorman

3 years

Personal savings (in dollars) can only come from the government spending more than it takes away in taxes. That's the only place it can come from.

11

38

95

Mike Norman

@mikenorman

3 years

"Inflation" worries did not stop President Eisenhower from building the interstate highway system--a major and transformational piece of infrastructure--despite its "cost." What would America look like without it, if Ike didn't do it because of inflation worries?

10

32

91

Mike Norman

@mikenorman

7 months

These mass lootings. Happening all over now. The society is unraveling. This is what happens from years of policy that funnels all income and wealth to the top. And it's going to get worse. Much worse.

26

15

95

Mike Norman

@mikenorman

1 year

There's no Medicare funding crisis. The gov't can buy what it needs, priced in its own currency, including healthcare for people. Taxing the rich may be a good idea if the goal is to claw back exorbitant fiscal gains doled out over the years, but it's not needed to fund Medicare.

10

20

94

Mike Norman

@mikenorman

2 years

Yellen thinks we need to cut the deficit to reduce "fiscal drag," when the deficit being down $1.5T y-o-y is the CAUSE of fiscal drag. Nevermind recession, it's amazing we are not in a DEPRESSION with people like her at the controls.

7

27

92

Mike Norman

@mikenorman

4 years

Gov't debt has soared yet dollar strong no inflation, interest rates at record lows, even in some cases negative. Where are the economists (and quacks) who predicted hyperinflation a dollar collapse and soaring rates? Where are they? How do they rationalize their theories now?

11

45

89

Mike Norman

@mikenorman

2 years

Biden Admin authorizes more money for Ukraine. No, “how we gonna pay for it?” Money for struggling Americans or fixing our infrastructure? Nope. No money.

11

29

89

Mike Norman

@mikenorman

2 years

Manchin says the $30T national "debt" should "scare the bejesus" out of people. (Actually, Manchin's obstinacy and ignorance should scare the bejesus out of people, and the fact that he's in charge of policy.)

11

18

92

Mike Norman

@mikenorman

2 years

Here's then Vice President Joe Biden shaking hands and smiling when meeting far right nationalist Svoboda Party leader Oleh Tyahnybok in Kiev in 2014.

10

45

81

Mike Norman

@mikenorman

2 years

After Jesus, Milton Friedman should be considered the most influential person in human history thanks to his brilliant and complete brain washing of the human race with his ridiculous theory of monetarism.

9

29

92

Mike Norman

@mikenorman

3 years

@tyler In my 40+ years on Wall Street, as an exchange member, floor broker and independent trader, I have never seen any of these guys (hedge funds, large traders, etc) make money without some quasi-illegal (or outright illegal) edge.

4

8

82

Mike Norman

@mikenorman

2 years

Russian ruble is the strongest currency in the world. The sanctions are working!

7

19

82

Mike Norman

@mikenorman

2 years

@Breaking911 But endless military spending, no problem. Always enough $$$. Fucking sick of this shit.

12

4

82

Mike Norman

@mikenorman

2 years

Each time the Fed raises rates it raises the general price level. This creates a vicious cycle that keep rates and inflation going up. Fed doesn't understand this.

12

31

89

Mike Norman

@mikenorman

18 days

Fed holding rates high is just keeping the inflation rate permanently elevated. The quickest way for the Fed to reduce inflation would be to cut rates to zero.

25

13

88

Mike Norman

@mikenorman

3 years

hOW ARe we gonnA PaY For It? Is never asked when it comes to military spending. The money is always there.

6

18

80

Mike Norman

@mikenorman

3 years

Extremely frustrating this "how to pay for it" debate when it's NEVER asked of defense spending or tax cuts for the wealthy.

5

18

83

Mike Norman

@mikenorman

3 years

Repeat after me... Fed is a bank. It lends against collateral. Fed is a regulator. It regulates the financial system. Fed sets prices by virtue of its rate setting power. Fed **DOES NOT PRINT MONEY.** (The fiscal authority, Congress, does.)

11

32

84

Mike Norman

@mikenorman

5 years

#MMT never said there were no limits on spending. However, the limits are in real terms, not financial. There are no financial constraints only real constraints. (Labor, resources, brain power, infrastructure, etc.) "Money" is a keystroke. Human capital is not.

5

46

81

Mike Norman

@mikenorman

2 years

Recession is FAR WORSE than inflation. People gonna see. However, it's what they asked for.

12

35

81

Mike Norman

@mikenorman

6 years

@realDonaldTrump Financial institutions have been devastated? Have you seen their stocks? Have you seen the compensation of their CEOS? What about consumers? How do they look to you?

1

10

73

Mike Norman

@mikenorman

5 years

All economies are planned, not just socialist ones. Lobbyists shape policy for the wealthy and powerful, tax cuts for particular groups and spending cuts for others, patents, protections, subsidies, tariffs and more. Get over it.

3

43

75

Mike Norman

@mikenorman

3 years

A billionaire tax to pay for policy is wrong. Wrong message. We don't need their $$ to for nat'l investments. Tax them because policies financialized the economy to such a degree that one person has $300b of wealth while his firm has relatively little sales & profit. Egregious.

4

33

80

Mike Norman

@mikenorman

3 years

"Gov't can't do anything well." Oh wait...it just landed an autonomous vehicle on a planet 128 mln miles away? Then launched a helicopter on top of that? 😯

5

18

79

Mike Norman

@mikenorman

2 years

We should end central banks or just let them exist as regulators of the banking system. Rates should be set at zero permanently and management of the economy, inflation and employment should be the job of fiscal policy.

3

24

81

Mike Norman

@mikenorman

2 years

If Milton Friedman were alive today, he'd be shocked at how deeply his failed and nonsensical ideology has taken hold. I mean, entirely and unshakably gripped global economic policy. What a sickness.

5

23

78

Mike Norman

@mikenorman

2 years

Russia holds pretty much ZERO dollar reserves, so "freezing" Russia's central bank assets by the U.S. is basically freezing nothing.

8

18

74

Mike Norman

@mikenorman

2 years

Federal deficit down $57 bln y-o-y. Watch personal savings shrink fast. Deficit of the gov't = addition to the financial balances of non-gov't and vice-versa. Shrink the deficit, shrink non-gov't's financial balance. They go more into debt.

6

33

81

Mike Norman

@mikenorman

5 years

We don't have to "pay back" the national debt. There is nothing to pay back. (And to whom?) It's US dollars that have not been collected as taxes. (And may never be.) So it is part of the financial wealth of the public. BTW...we've always had a national debt and always will.

4

41

76

Mike Norman

@mikenorman

3 years

What gives a $100 bill its worth? (Because intrinsically, the paper and ink are worth a few pennies at best.) It's worth comes from gov't saying it will extinguish $100 worth of tax liability. Same with the coin. Doesn't need $1T worth of platinum to be "worth" $1T. #Seigniorage

8

27

76

Mike Norman

@mikenorman

3 years

If you bought crypto's to preserve your wealth 'cause you think the Fed is "debasing" the $$ then you are very unsophisticated. If you did it to shield your assets from gov't control I'm not sure how it's gonna work out either. If you did it 'cause you like gambling, that's cool.

9

21

76

Mike Norman

@mikenorman

5 years

Companies don't "make money" when you lower their taxes. They make money when customers buy their goods and services. Tax breaks should go to consumers, not trillion dollar companies that want bribes to relocate.

6

37

73

Mike Norman

@mikenorman

5 years

There is no way billionaires should exist in a rational economic system. The only way that can occur is with state support that allows and protects massive extraction from labor, environment and existing real assets, while giving large tax advantages.

8

39

70

Mike Norman

@mikenorman

3 years

@PrisonPlanet And NOBODY F*CKN HELPS!!!!

9

3

67

Mike Norman

@mikenorman

3 years

The modern economy is extremely productive. It produces far more than the world can consume. Structural unemployment is a consequence. Abundance in all forms should be distributed more equally.

6

23

75

Mike Norman

@mikenorman

8 years

Yes, businesses need more tax relief.

5

84

72

Mike Norman

@mikenorman

3 years

Since 2001, $14 trillion went to the war on Terror. No one asked, "how we gonna pay for it?"

6

30

76

Mike Norman

@mikenorman

2 years

Fed rate hikes won't squash inflation. On the contrary. It will raise or otherwise support a generally higher level of prices.

10

19

78

Mike Norman

@mikenorman

5 years

@DonaldJTrumpJr Nah. They just want to claw back some of that socialism and gov't largesse that's been heaped on the rich for the past 30 years.

1

59

Mike Norman

@mikenorman

3 months

Fed still doesn't understand that high interest rates keep inflation elevated. Just look at Turkey, and Argentina. For the opposite, look at the BoJ. Total failure of monetarist orthodoxy. Stupidity.

12

11

74

Mike Norman

@mikenorman

2 years

Lots of people citing how high interest payments on gov't "debt" is getting, not mentioning or understanding that these payments are income transfers to the economy. Fiscally the same as sending out checks. They just don't see that side of it. Take the blindfolds off.

12

20

75

Mike Norman

@mikenorman

2 years

Biden wants Treasury to "pay down the debt" this quarter. This is exactly what Clinton did in his second term leading to a stock market crash and deep recession in 2001-2003. "Pay down the debt" equates to reducing non-gov't financial balances.

9

28

74