Mike Norman Economics

Gold Watch.Johnson Russia ListJRL NEWSWATCH: “Russia’s New Gold Rush Could Shake Up the International Monetary System; Russia and China might be considering a gold-backed digital currency.” – Moscow Times/ Bruno MacaesBruno Maçães is a senior fellow at the Hudson Institute and a former Europe minister of Portugal

This analysis is basically right about the economics, but very wrong about the finance.The problem we face with human contributions to climate change and the levels of pollution that are unhealthy for a vast majority of people is basically economic in the sense that negative externality is being socialized. This means that in markets, goods that generate negative externality through use or in the course of their production are sold at below true cost.The result is mispricing of negative...

No gun loving hillbillies here!The Nordic perspectiveOpenness Trust in each other New ways of thinking Sustainable management Compassion and tolerance [embedded content] Curious about the Nordic perspective? Learn more about how the Nordic co-operation support what the Nordic countries have in common by finding pragmatic and common solutions which develop the Nordic model. The Nordic perspective is more than beautiful nature, good economy, equality, innovation, literature, films,...

Even though I said I won't be posting links to nonsense, some of the nonsense is too funny not to share. To make it worse, he is talking his own book. Coin RivetHow does fiat currency work? Pedro Febrero

Its Wednesday and some snippets only today. I was reviewing some data on public investment in the European Union the other day and up popped an article in Barrons that covered the same issue. The data reveals the stark failure of the Eurozone and the European Union, in general. The consequences of the European Union’s ideological obsession for rules over reality is now clearly undermining the future prosperity of the Member States. While the fiscal austerity has created elevated and...

Radical uncertainty is feature of a complex adaptive system a chief characteristic of which is emergence. Emergence is at the heart of evolution theory. Emergence in this context means that there is no way to predict what will emerge from a complex adaptive system based on investigation of the past and present state of the system. This implies that surprise is a characteristic of such systems. This also implies that complex adaptive systems are like open systems rather than closed,...

The Financial Instability Hypothesis was associated with the economist Hyman Minsky, although it could be viewed as Minsky’s interpretation of Keynes. One summary of the concept is that stability is destabilising: economic stability leads to changes in behavioural changes that destabilise the economy…. Bond Economics Primer: Financial Instability Hypothesis (Part I)Brian Romanchuk

While I tried to keep up with the barrage of criticism when MMT went viral recently, after a while I ceased posting links to criticism of MMT unless it added something to the debate. Most of the things I see, and there's a ton of it spewing out, reiterates straw man arguments or is just uninformed nonsense. Not worth wasting time on.Thoughtful critics of other economists are worthwhile considering, however. No one has the ocean in their bucket and we should not think that MMT economists are...

A bevy of lawmakers in Congress alarmed by soaring deficits are calling yet again for a constitutional amendment to balance the federal budget — but this time it’s Democrats. The so-called Blue Dog Coalition of moderate Democrats on Tuesday endorsed an amendment that would require Washington to balance the budget except in case of war or recession.... Are they for the return of the gold standard, too?Market WatchAnd now for something different: Democrats call for balanced-budget...

April is an important month. Tax payments. Fiscal flows. The banks. Major impact on the markets.