Mike Norman Economics

What "they" don't want you to see unless you are one of the "them." Short. It estimates that already in 2006 in the US the richest 5% possessed greater net worth than the bottom 95% combined. Real-World Economics Review BlogCitigroup Plutonomy Reports update Edward Fullbrook

Contra the relevance of Marx today based on assumptions of conventional economics.Grasping RealityWarning! Reading Marx's Capital Can Introduce Serious Bugs into Your Wetware!: Hoisted from 2006 Brad DeLong | Professor of Economics, UCAL Berkeley See also Another one dismissive of Marx. Conversable EconomistMarx on Economics: "Its True Ideal is the Ascetic but Rapacious Skinflint and the Ascetic but Productive Slave" Timothy Taylor | Managing editor of the Journal of Economic...

Financial economics. e.g., EMH and CAPM.Stumbling and MumblingProgress in economicsChris Dillow | Investors Chronicle

Stephanie Kelton is a leading American economist and a professor of public policy and Economics at Stony Brook University. Kelton was chief economist on the US Senate Budget Committee and economic adviser to the Bernie Sanders 2016 presidential campaign. She's most known for being a pioneer of Modern Monetary Theory (MMT). In this episode, Professor Kelton debunks budget deficit and government spending myths, and explains why understanding how our monetary system works is crucial to making...

Not.Naked KeynesianismThe end of neoliberalism?Matias Vernengo | Associate Professor of Economics, Bucknell University

Not good news for Germany fiscal policy meanwhile ECB monetary policy is effectively the most punitive on planet earth especially towards perennial surplus Germany (Warren's '10th plague').Puts more pressure on the US fiscal policy as only nation out there currently helping. This negative German fiscal policy is itself bearish EUR;  but if US can get over this current issue of pinched bank capital soon (seems like still a BIG 'if'... though FD I have near ZERO patience...) then sloooow...

Backgrounder at wiki here. They may test the instrument under, for example, the following stresses:  What happens if unemployment rate rises to v% in a specific year?  What happens if equity markets crash by more than w% this year?  What happens if GDP falls by x% in a given year?  What happens if interest rates go up by at least y%?  What if half the instruments in the portfolio terminate their contracts in the fifth year?  What happens if oil prices rise by z%? I notice that they...

If democratic socialists see social democracy as one of the key stepping stones towards a truly egalitarian society, the issue of how we can sustainably finance such programs is of the utmost importance. An economic doctrine named Modern Monetary Theory (MMT) is surging in popularity and offering answers. MMT is debunking popular narratives about the harsh necessity of austerity and belt-tightening. It is showing that money is not a finite abstraction, but a limitless public utility that...

Part one of an exposé.More than controlling the narrative. Creating it.As always, follow the money.Zero HedgeWho's Funding The White Helmets? Reality Check with Ben Swann, Investigative Reporter | TruthInMediaSee alsoFox NewsCzech president: Czechs made Novichok, citing spy agency Associated Press The UK's intelligence services seem to have lost all remaining credibility, after the Czech President's admission that his country had previously produced a nerve agent similar to the one Britain...

Backgrounder.Fort RussPopov: Armenian ‘street revolution’ is not a Maidan Eduard Popov