Mike Norman Economics

This is a good Twitter thread and I suggest reading it. I am sure MMT economists will jump in.Here's an excerpt. ...  Brad DeLong: MMT is Abba Lerner's Functional Finance with bells & whistles & some confusions. Manipulate G to stabilize Y & π, manipulate M to get an i to make debt finance sustainable, and rely on π to tell you if your policies are sustainable... If π↑ need G↓  Suresh Naidu: Clearest exposition of MMT in a tweet. Fight me deficit owls!  ... BDL has thought...

Traditionalism versus liberalism.Fort RussNative Brazilian Traditions Against Liberal Globalism Raphael Machado Dr. Charles Eastman was the son of a European American father and Native American woman. He was raised as a Native American (Sioux) and subsequently became a physician. He reported on his upbringing and the culture that was native to him. His works are available for download at the Internet Archive. I particularly recommend The Soul of the Indian.

Basically a good analysis. I would add a few of things that I think he misses: 1. The analysis of the EZ as a failed currency union that is increasingly unsustainable and will implode when the next crisis hits. 2. The objective of the US to dominate the Chinese domestic market with US finance and industry by preventing the rise of Chinese-developed and owned high-services and technology through intellectual property that denies China access to developing its own domestic firms...

The balanced budget paradox is probably one of the most devastating phenomena haunting our economies. The harder politicians — usually on the advice of establishment economists — try to achieve balanced budgets for the public sector, the less likely they are to succeed in their endeavour. And the more the citizens have to pay for the concomitant austerity policies these wrong-headed politicians and economists recommend as “the sole solution.” There are three budget views.1. Balanced budget...

Summary and implications of Goldman Sachs economic research team forecast. On the EconomyTrump 2020 game plan: Fake Laffer, Go Keynes.Jared Bernstein | Senior Fellow at the Center on Budget and Policy Priorities and former Chief Economist and Economic Adviser to Vice President Joe Biden in the Obama Administration

I can't even make this up, notice he doesn't say "better at Art than Science", this is revealing...:My first appearance in a political cartoon, lol. The MMT folks are definitely better at art than economics. :-) https://t.co/dJgXL1F5IO— Jeffrey Brown (@IlliniBizDean) August 4, 2018

You will recognize "fake liberalism" as neoliberalism. He says pretty much what we have been saying here for a long time.Fort RussOp-Ed: Fake Liberalism As A Tool For Trans-Atlantic GlobalistsDenis Churilov

Understanding what we mean by the most important word in economics. The meaning of ordinary language terms is relative to use in context. Conversely, technical terms are defined operationally. The same sign can be used for different technical terms, although such use is discouraged as confusing, but not in the same context, where only one operational definition applies.Unfortunately, economics often employs ordinary language terminology with specifying the meaning operationally. Confusion...

Longish and detailed, but it explains a lot. Short summary: The war was chiefly about sectarianism, and fueled by foreign supporters of the Sunni factions. It was not about installing liberal democracy in place of the "brutal" Assad regime, which in reality had been enforcing liberal secularism. This is the reason it was opposed by traditionalists, including Sunni Islamists.Consortium NewsThe Mystery Fixer Who is Negotiating an End to the Syrian War Rania Khalek, independent journalist...

The Guardian is still bashing Russia and in today's edition Jeremy Corbyn says  that there is no place for antisemitism within the Labour Party, but the Guardian has no CiF under these articles so readers can't leave a comment. Is being against the Israel's policies towards the Palestinians antisemitic?   I put out the video below in the Guardian  CiF once which is called, An Israeli Soldier's Story, by Eran Efrati, but the Guardian took it down. Was that video antisemitic, and is that...