Friday , August 23 2019
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Mike Norman Economics

The Federal Reserve’s new Distributional Financial Accounts provide telling data on growing U.S. wealth and income inequality — Raksha Kopparam

Wealth disparities between the rich and the poor in the United States have broadened over the past 30 years, according to a new dataset released earlier this month by researchers at the Federal Reserve Board. Their Distributional Financial Accounts is the new dataset that provides quarterly estimates of wealth distribution in the country from 1989 to 2019. 2 The new dataset was created by integrating the Federal Reserve Board’s Financial Accounts with the Survey of Consumer Finances....

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On Demagogues and Democracy — Eric Schliesser

Some social & political theory. Focuses on Walter Lippmann, The Good Society. Although Eric Schliesser doesn't mention it in this post, Aristotle discussed these issues in detail in his Politics.Digressions&ImpressionsOn Demagogues and DemocracyEric Schliesser | Professor of Political Science, University of Amsterdam’s (UvA) Faculty of Social and Behavioural Sciences

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Our Money: Modern Monetary Theory Must Dominate Democratic Debate — PR Newsletter

This Labor Day, Our Money will gather 500 participants to host a march for Full Employment and Economic Justice in commemoration of the Civil Rights Movement legacy of advocacy for a Federal Job Guarantee. The march will begin at the MLK Memorial in Washington DC at 11 am and end at the Marriner Eccles Building of the Federal Reserve around 2 pm.  Our Money founder, Rev. Dr. Delman Coates, will use this opportunity to draw the connection for lay audiences between the Civil Rights struggle...

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Just do nothing…

Kashkari going to State Fair... Fed in Jackson Hole... these people not doing much work these days... kicking back here in August this month...Pretty good indicator that they wont be doing anything before September meeting... good sign... #JustDoNothing Headed to first day of #mnstatefair2019. Excited for @MinneapolisFed booth in the education building. If I restrain myself from eating at the Fair, did I really go? #fedatthefair — Neel Kashkari (@neelkashkari) August 22, 2019

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Bill Mitchell — The EU pronouncement of a Greek success ignores the reality

I keep reading ridiculous articles about Brexit in the UK Guardian. The latest was comparing it to pre-WWI Britain and suggesting there were no signs of a “Damascene moment remainers hoped for”. I thought that reference was apposite – given the reference invokes St Paul’s conversion after he was struck blind. Good analogy – blind and remainer. The Brexit imbroglio is all the more puzzling because it seems to be a massive mismatch of scale – a currency-issuing nation and an organisation with...

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Links — 21 Aug 2019

The Vineyard of the SakerU.S.-UK Deep State Tries to Grab Hong KongEric Zuesse NEORoots of Chaos in Hong Kong were Planted in Washington Salman Rafi Sheikh RTWest’s news dominated by Hong Kong while Yellow Vests largely ignored – Pilger CGTN179 officers injured, Hong Kong police urge public to stay rational The Unblanced Evolution of Homo SapiensJohn Pilger: Breaking up the Russian Federation is an American objective Sic Semper TyrannisJoseph Mifsud, British "Joe", Not Russia's Boy...

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Trump HAMMERING the Fed

He mutilated them today: ....WHERE IS THE FEDERAL RESERVE? — Donald J. Trump (@realDonaldTrump) August 21, 2019 So Germany is paying Zero interest and is actually being paid to borrow money, while the U.S., a far stronger and more important credit, is paying interest and just stopped (I hope!) Quantitative Tightening. Strongest Dollar in History, very tough on exports. No Inflation!..... — Donald J. Trump (@realDonaldTrump) August 21, 2019 .....We are competing with many countries that...

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Planetary Thinking — Eric Berglöf

As policymakers, academics, and activists prepare for next month's United Nations climate summit in New York, they should consider precisely what it will take to build a truly sustainable global economy. First and foremost, the world needs a new multidisciplinary approach that is broad enough to tackle the challenge.... Project SyndicatePlanetary Thinking Eric Berglöf

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‘Was Goebbels unavailable?’: ABC blasted for ‘normalizing fascism’ by putting Sean Spicer on ‘Dancing With the Stars’ — David Badash

I am purposefully avoiding overtly political stuff now that we are in the throes of another campaign.However, when one faction of the country sees the other faction as fascist and names it, political discourse has descended about as far as it can go in that direction other than upping the amps.The opposite extreme when one side sees the others a socialist and even communist, political discourse has descended about as far as it can go in that direction other than upping the amps.This is a...

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