36 min listen
HS 354 - Our Economic Mindset is Keeping Us From Our True Potential with Mike Norman
HS 354 - Our Economic Mindset is Keeping Us From Our True Potential with Mike Norman
ratings:
Length:
35 minutes
Released:
Oct 18, 2017
Format:
Podcast episode
Description
Jason Hartman welcomes Economist Mike Norman to the show to discuss Modern Monetary Theory or MMT. Mike shares examples of common misconceptions people have of the US monetary system and economy, such as the US debt clock, that inflation equals growth, and how the tax system works. He believes that the US has an unlimited supply of capital and balancing the budget or functioning as a fixed monetary system would accomplish the opposite of what is needed to create growth. Key Takeaways: [1:40] Modern Monetary Theory (MMT) explains the value of money. [4:39] A tax system is required to create demand for money. [9:31] A fixed monetary system creates cycles of economic depressions and recessions. [11:53] The US national debt is a summation of what is owned by the US and its constituents. [19:25] A dollar must be created and pumped into the economy before it can be used to pay a tax debt. [21:46] The US has an unlimited amount of new capital. [27:13] There is a difference between inflation and growth. Website: Mike Norman on YouTube
Released:
Oct 18, 2017
Format:
Podcast episode
Titles in the series (100)
HS 18 – An Interview with Catherine Austin Fitts: Jason talks with the former Assistant Secretary of Housing and Federal Housing Commissioner for George Bush I. Criminal activity in government and our financial system is exposed by the ever fascinating Catherine Austin Fitts who is president of Solari, by Holistic Survival Show - Economic Crisis