Mike Norman Economics

By adding a so-called cap on Russian oil prices to the increasing barriers to develop domestic resources the G7 may be planting the seeds of a commodity super-cycle where dependence on OPEC and Russia increases, instead of decreasing.I repeat what I have been saying for months. The developed economies’ governments are taking their countries from a modest dependence on Russia to a massive dependence on China and Russia.…And making Europe massively dependent on the US, while also strengthening...

ABSTRACT We evaluate a guaranteed job program that was piloted, starting in October 2020, in the municipality of Gramatneusiedl in Austria. This program provided individually tailored, voluntary jobs to all long-term unemployed residents. Our evaluation is based on three estimation approaches. The first approach uses pairwise matched randomization of participants into waves for program adoption. The second approach uses a pre-registered synthetic control at the municipality level. The third...

Last Friday (December 2, 2022), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – November 2022 – which suggested that the US labour market showed signs of slowing further, with payroll employment growing by just 263,000 net jobs. The labour force measure showed employment and labour force growth turning negative as the participation edged down. The result was that the official unemployment rate remained largely unchanged – with...

MMT.The Lewiston TribuneWho’s worried about the national debt?William L. Spence

Going against willful stupidity is your DUTY! You don't have to know anything. Just fade the monetarists. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

Somewhat speculative, but.….CounterpunchLife Beyond 1.5CRobert Hunziker

There is no other word for what the Democratic Party has just done to railworkers than betrayal. InterfluidityBetrayalSteve Randy Waldman

On September 1, debt-trapped Sri Lanka reached a preliminary agreement with the International Monetary Fund for a 48-month extended fund facility of US$2.9 billion, which hardly covers the country’s outstanding debt, nor its immediate survival needs.Nevertheless, IMF structural adjustment requires the country to meet its familiar debt-restructuring conditions: privatization of state-owned enterprises, cutbacks of social safety nets, and alignment of local economic policy with US and other...

In September von der Leyen announced her support for a price cap on the international trade in exports of Russian pipeline gas and liquefied natural gas (LNG). Last month she said the European Union is “ready to go” with a price cap on Russian oil exports.However, the European and Asian gas and oil trade is not only contradicting what von der Leyen is claiming; it is demonstrating they are profiting from her public lies. In the gas market there is new evidence that the French, Dutch and...

I see illusions as the only obstacle to the creation of a healthy world, which in my view would look like a movement from the competition-based models of capitalism, militarism, imperialism and domination to collaboration-based models where all humans work in cooperation with each other and with our ecosystem toward the common good of all beings [i.e., away from narrow self-interest toward the common interest].  The only things preventing that movement are the large-scale illusions that our...