Mike Norman Economics

Another positive post. Momentum is building.The InterceptModern Monetary Theory Grapples With People Actually Paying Attention To It Rachel M. Cohen

This is what’s keeping the economic expansion going and why stocks keep making new highs.

BIS says that 12% of companies in the world are zombies and in the US 15% are zombies where their profits can't service the debts.Amazon is a trillion dollar company that makes no profits.To keep the whole thing going people are working harder and harder because they are so loaded up with debt.Manual workers are taking opiates to kill the pain of doing too much work as they can't stop because of their debts. There's an opiate epidemic in the US as people try to kill the pain. Everyone is in...

Jonathon Cook says the so called moderates want open borders to bring down wages to increase profits, but the right are no better  having no solutions for the neoliberal capitalist system that is broken. Western politics is tearing itself apart, polarising into two camps – or at least, it is in the official narrative we are being fed by our corporate media. The warring camps are presented as “moderate centrists”, on one side, and the “extreme right”, on the other. The question is framed as a...

Nurmagomedov is going to maul McGregor easily.

Former economics professor (at Penn, I believe):  MMT I sort of ranked these in order of things that are close to being objectively true to things that liberals believe (which are probably also true!). The explicitly political element is that conservatives and the mainstream media which incorporates basically incorrect beliefs use deficit and inflation fears to implement their agendas. It is true that they hate inflation but they exaggerate these fears to make sure they win on the issue, and...

This is so good, Steve Keen very concisely described his theories in a way I have never heard him talk about them before. This isn't for the general public.  It's very advanced and he touches on religion, philosophy, Karl Marx, Hegel 's dialect along with advanced mathematics.Steve Keen says economics students nowadays don't learn the type of advanced mathematics that students did in his time, what they learn is mythamatics, he adds.Steve Keen puts the un-equilibrium theories from physics...

This is so good I have decided to put the whole lot out as I was unable to leave anything out. See what you think?I find it strange how the so called left could attack Jimmy Dore as I think he really represents what the left should be. They say he is the Alex Jones of the left, but his shows are extremely well put together and are concise with no rambling. They are very intelligent and well thought out. He's a very nice and easy going guy, but he's the biggest threat to the establishment...

With the Western permabears anticipating yet another immanent implosion of the Chinese economy, the state media is reporting a healthy consolidation based on increasing self-sufficiency and new partners. China has been in a transition from investment and export-fueled development growth model to one that draws strength from innovation, consumption and service sector. "The new drivers have played a key role in sustaining growth, adjusting the economic structure and expanding employment,"...

Only a short blog post today as I am travelling for a fair part of the day on my way from New York City to Dublin for my next speaking engagement. Tomorrow’s blog post will cover some reflections on the 3-day Modern Monetary Theory (MMT) conference that finished yesterday in New York. There are several things I thought about the event, some of which I will share in public, the others, in private, with the organisers. But, today’s post, is a brief reflection on the latest crisis that is...