Mike Norman Economics

It’s Wednesday and I have several items to discuss or provide information about today. Today, I discuss the future of the EU-bonds that were issued as part of two main emergency interventions in 2020 as policy makers feared the worse from the pandemic. The question is whether these assets can ever become ‘safe’ in the same way that Japanese government bonds or US treasury bonds are clearly ‘safe’. The answer is that they cannot and the reason goes to the heart of the problem besetting Europe...

Banking and money is an area of ancient debates between post-Keynesians (and their fore-runners) and mainstream economists. Many of these showed up in my earlier book Abolish Money (From Economics)!, with the theme more focussed on money. Although I believe I need to touch on this topic, I want to keep it short. Partly because it appeared in another book, and partly because I am less and less convinced that these debates are that useful for discussing banking.Note: Once again, this is a...

At least some others are exhibiting some skepticism… These types of statements are even more ridiculous than the NATO/CIA shills who predict the imminent collapse of the Chicoms https://t.co/kIny2dC0cn— Darren J. Beattie 🌐 (@DarrenJBeattie) January 18, 2023 If you like some alternative to regime content Beattie is a good follow… 

 😂If you gave your child a credit card and they kept hitting the limit, you wouldn't just keep increasing it. You would sit down with them to identify where they are overspending and where they can change their behavior.It's time for the federal government to do the same thing. pic.twitter.com/V6Qy2e5RzV— Kevin McCarthy (@SpeakerMcCarthy) January 17, 2023

The key to successful investing is to focus on what's ahead, not what's already done. Get on my email list: [email protected]

 Given the almost cartoonishly elitist nature of this jamboree, it seems only natural that the organisation has become the subject of all sorts of conspiracy theories regarding its supposed malicious intent and secret agendas connected to the notion of the “Great Reset”. In truth, there is nothing conspiratorial about the WEF, to the extent that conspiracies imply secrecy. On the contrary, the WEF — unlike, say, the Bilderberg — is very open about its agenda: you can even follow the...

The world’s richest 1% captured over two-third of all wealth created by humanity since 2020, leaving just one-third for the other 99% of the population, claims a report published by Oxfam on Monday, January 16.The report, titled ‘Survival of the Richest,’ notes that the richest 1% of the world’s population captured over USD 26 trillion (nearly 63%) of the USD 42 trillion created since 2020, nearly twice the USD 16 trillion (37%) that went to the rest of the population.Oxfam notes that the...

Housewives and Downing Street by Joanna Bright (1935).Tax Research UKThe origins of the ‘household analogy’Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

There was a Financial Times article recently (January 8, 2023) – Monetary independence is overrated, and the euro is riding high – from Martin Sandbu which strained credibility and continues the long tradition of pro-Euro economists attempting to defend the indefensible – fixed exchange rate, common currency regimes. He claims that the Euro is a better system in the modern era for dealing with calamity than currency independence. However, as I explain below, none of his arguments provide the...

Trump still telling GOP to negotiate hard using threat of zero increase of debt ceiling…Ceiling to be reached this week after Thursdays auctions:Janet Yellen warns US will hit $31.4tn debt ceiling next week https://t.co/6KQEyQMy0y— Financial Times (@FT) January 13, 2023