Mike Norman Economics

Labour surges ahead in recent polls. If the election was left solely to 18 to 24 year old group they would not elect a single Tory as all they have ever known is austerity. In the newspapers today the Tories pledged to revamp the railways to ensure they provide a better service because they are afraid Labour could win the election by saying they will nationalize the rail service. [embedded content]

Muscular dollar metaphors are popping up all over. I remember the last time that happened.

Abstract An increasingly visible school of heterodox macroeconomics, Modern Monetary Theory (MMT), makes the case for functional finance – the view that governments should set their fiscal position at whatever level is consistent with price stability and full employment, regardless of current debt or deficits. Functional finance is widely understood, by both supporters and opponents, as a departure from orthodox macroeconomics. We argue that this perception is mistaken: While MMT’s policy...

CNBCJP Morgan's top quant warns next crisis to have flash crashes and social unrest not seen in 50 years Hugh Son Conversable Economist How US Multinationals Shifting Income to Foreign Countries Reduces Measured GDP Timothy Taylor | Managing editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, MinnesotaBloomberg OpinionHow Real News Is Worse Than Fake News Tyler Cowen | Holbert C. Harris Chair of Economics at George Mason University, and chairman and...

Another interesting column by Philip Geraldi.  There is a history of American Jews closely attached to Israel being promoted by powerful and cash rich domestic lobbies to act on behalf of the Jewish state. To be sure, Jews who are Zionists are vastly overrepresented in all government agencies that have anything at all to do with the Middle East and one can reasonably argue that the Republican and Democratic Parties are in the pockets of Jewish billionaires named Sheldon Adelson and Haim...

The dangers of distorting free market interest rates is one of the bits of market folklore that keeps getting passed around. There is actually not a whole lot of data to defend this view; it is best viewed as faith-based reasoning. This topic is particularly interesting in the case of Japan. I am somewhat agnostic on this issue; I do not see particular risks from manipulating the yield curve in the current environment, yet I can see some plausible dangers. This article was triggered by the...

It could turn out to be nothing, or have the CIA nabbed him? KV. [embedded content] RT's Polly Boiko reports as missing Julian Assange associate raises questions over links to Wikileaks. I quite like what Ron Paul had to say in Assange and the US Empire. KV The Torture Of Assange: A Blight On The US Justice System [embedded content] Wikileaks founder and chief editor Julian Assange has been in solitary confinement in the Ecuadorian embassy for more than six years. Though the original...

I am only looking for certain types of people. Not everyone can make it.

About strategy and tactics for promoting MMT.Bill Mitchell – billy blogExploring the effectiveness of social mediaBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Is it time to change how banks work? In Australia they are thinking about it. KV Break up the banks, tax banks more than other firms, and lay siege to them with low-cost competition from public financial institutions such as the Reserve Bank of Australia and the Future Fund.  These are some of the ways to bring the banks to heel after the royal commission's disclosures of conflicts of interest, alleged criminal conduct and customer rip-offs to be discussed at the Melbourne Economic Forum on...