Mike Norman Economics

Fortunately for the rest of us still sitting on their hands since the recent October 7th 750B CNY debacle (Art Degree people alert: figurative language here means "not adding non-risk reserve assets to balance sheet of regulated depositories")  ....  keep your fingers crossed for the rest of the year and post end of ECB asset purchases... then maybe we can turn back up..The PBOC has held off on its regular liquidity injections for a record 26th straight session https://t.co/HgNBc6B8wH—...

May portend an acceptance of the Manuchin deal to put rates on hold and instead increase rate of portfolio roll off.... they need to guarantee positive carry between portfolio yield and IOR or they will think they are "out of money!"... The Fed may tweak the excess reserves rate again before the December meeting https://t.co/9Pxk8LndlE— Bloomberg Economics (@economics) November 29, 2018

After the war the U.S. turned Japan's war economy over to domestic production. The capitalist competitive environment ment that Japanese companies fought for market share to stay alive but profits tended towards zero. Japanese companies were destroying each other.From what I've read, economists consider this to be the ideal market where profits tend towards zero, but the Japanese were suffering. So the Japanese government allowed companies to form into cartels which ensured sufficient...

Business InsiderDeutsche Bank's headquarters are being raided by police as part of a Panama Papers probe (DB) Callum Burroughs Project SyndicateProgressive Europeanism in Action Yanis VaroufakisThe Greanville Press Bernie Sanders Puts Forward a Program That Could Split the Democratic Party WCEG — The EquitablogBrad DeLong: Worthy reads on equitable growth, November 16–29, 2018 Brad DeLong Zero HedgeGreenwald Goes Ballistic On Politico "Theory" Guardian's Assange-Manafort Story Was...

[embedded content] Anya Parampil puts incoming Congresswoman Alexandria Ocasio-Cortez in question, explaining how as a candidate for the democratic nomination, she billed herself as a “socialist” and “progressive” which represented the next generation of the party—only to sell out upon winning office. Anya documents how Ocasio-Cortez has been embraced by corporate democrats, like DNC Chair Tom Perez, offered glowing praise for war-mongering Senator John McCain, and more recently, endorsed...

It is a pleasure to be back at the Economic Club of New York. I will begin by briefly reviewing the outlook for the economy, and then turn to a discussion of financial stability. My main subject today will be the profound transformation since the Global Financial Crisis in the Federal Reserve's approach to monitoring and addressing financial stability. Today marks the publication of the Board of Governors' first Financial Stability Report. Earlier this month, we published our first...

Looks like Fed Chairman Jay Powell just caved to Trump.

The global economy is growing, but so is uncertainty. This column presents a new quarterly index of uncertainty for 143 countries. The World Uncertainty Index reveals how uncertainty in the world has evolved over time, whether it is synchronised across countries, and how it compares across income groups and political regimes. VoxeuGlobal uncertainty is rising, and that is a bad omen for growth Hites Ahir, Senior Research Officer, IMF; Nicholas Bloom, Professor of Economics at Stanford...

I’m helping to organize a conference on MMT with the topic “Why money matters”. It takes place in Berlin on February 1-2, 2019 at EBC Hochschule. The Call for Papers is open until December 31, 2018 and registration opens on December 1st. Find more information on http://mmtconference.eu econoblog 1011st International European Modern Monetary Theory conference, Berlin 2019Dirk Ehnts | Lecturer at Bard College Berlin

The latest ‘reform’ proposals from Europe might be taken as a sick joke if the players were not serious. On Sunday, November 18, 2018, the French President gave a speech at the traditional commemorative ceremony in the German Bundestag to mark the Volkstrauertag (National Day of Mourning), which has been part of German life since 1922 (originally to mark those who died during World War 1). His speech (Jacques Chirac was the last French president to address the Bundestag on June 27, 2000)....