Mike Norman Economics

Its Wednesday, so a relatively short blog post today. We are just about finished the final responses to the editors from Macmillan on the manuscript for the next Modern Monetary Theory (MMT) textbook, which I am now reliably informed will be published in February 2019. Woo hoo!Bill Mitchell – billy blogBrexit propaganda continues from the UK GuardianBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW,...

Nicholas Kaldor foresaw what the would happen if the Eurocrats attempted to force a political union using an monetary economic one on top of the then existing common market.Lars P. Syll’s BlogWhy a monetary union cannot work without also being a political union Lars P. Syll | Professor, Malmo UniversitySee alsoThe mess at the heart of the EU

This article continues the discussion of the Kalecki Profit Equation (link to Part I). The Kalecki Profit Equation is an account identity (a statement that is true by definition) that determines the level of aggregate business sector profits in terms of other national accounts variables. The full equation is somewhat imposing, so the strategy employed here is to build up the equation by starting off with a simplified model economy that results in a brief equation, then adding new terms...

Tomorrow to be a revealing day; almost half of preliminary figures out for 2Q:Thursday 2B earnings day for $SPX, as prelim Q2,’18 schedule shows Thur has 45.7% of the releases (26.8% pre-mkt & 15.3% post); historically Thur has 44.2% (26.7% pre & 17.4% post) & Mon has 4.6% (2.0% & 2.6%); 7/9-13 has 9 issues planned;7/16-20 61, 7/23-27 183, 7/30-8/3 144— Howard Silverblatt (@hsilverb) July 2, 2018

Hot news just in from India: Trump worshiped as God pic.twitter.com/RbQSMjbMIJ — RT (@RT_com) July 2, 2018 Can't make it up...Double triggers!!!!

The Right discovers it is up against MMT. Is Stephanie Kelton Superwoman?The American InterestThe Right’s Straw Left Ben Judah

John Helmer looks at the coming Trump-Putin summit from the vantage of the Bolton meeting with Russian officials in preparation for it.Dances with Bears The Sale Of Another Century – The Putin-Trump Summit John HelmerSee alsoStrategic Culture FoundationAs Trump ‘Goes Nuclear’ Against Iran and China, What’s Next? Alastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacyAlsoWeaponized...

Alexandria Ocasio-Cortez’ platform is dramatically better than many may realize. It tackles the greatest evil in existence in a way that no other big-2 congressional candidate’s website does and which most do not even mention. And in doing so, it makes serious much of the rest of her socialist platform in a way that even presidential candidate Bernie Sanders did not — a way promoted by the peace movement, the Poor People’s Campaign, and Black Lives Matter.… By labeling her foreign policy...

Jimmy Dore gives Howard Schultz, the outgoing Starbucks CEO,  a pasting for saying that some of the Democrats have moved too far to the left by saying the government should provide single payer healthcare, a Job Garantee, and free college.Howard Schultz, who is going to run for president as a Democrat, asks how are we going to pay for all this? But Jimmy Does points out about the trillions the government found to bail out the bankers, and the trillions more spent on the military and the...

When fear is in the air and people are panicking that is the best time to buy.