Mike Norman Economics

Useful backgrounder, although short on MMT. Mentions Stephanie Kelton but that is about it. It does outline the history though, which is helpful in understanding that a job guarantee is not a new idea.The Daily BeastHow Guaranteeing Jobs Became the Hot New Policy Priority for 2020 Dems Gideon Resnick ht Yves Smith at Naked Capitalism

We have been discussing the investigation by the Inspector General of the Justice Department into the leaking of FBI memos by former Director James Comey. I have previously explained why there are serious questions concerning Comey’s conduct. Now there is an interesting development after Fox News confirmed that the law professor used by Comey for his leak was in fact a “special government employee” (SGE) for Comey’s FBI. That status of Columbia Professor Daniel Richmanraised new...

It’s the modern gold rush. Around the world, the most sought-after mineral isn’t a precious metal, nor is it oil and gas…it’s lithium. Lithium, or “white petroleum” as some call it, has become a crucial element in today’s high-tech economy. Demand for lithium is soaring, and producers are frantically searching for new sources of supply. Prices have doubled in the last two years, rising as high as $16,500 per ton.... The fact that China is trying to corner the market has made the search...

The banking and finance royal commission has cast light on a new type of poverty to emerge in our society: middle class poverty. To understand it, we have to go back to an earlier government inquiry: the 1972 Commission of Inquiry into Poverty, conducted by Professor Ronald Henderson. That commission had no real policy impact, but its cultural impact was profound. It gave prominence to the Henderson Poverty Index: a measure of consumption described by Henderson as so austere that it was...

Neil Wilson posted the following at Bill Mitchell’s today. My point is that, under capitalism, if you can’t pay your costs from your income you go bust – which releases your market space for somebody who is either more productive, or more realistic in their pricing. Cheap labour and a systemic lack of jobs encourages undercutting – the parasite businesses Nick Hanaeur speaks of. “It is appealing to believe that the parasite economy will eventually correct itself. Or that a few high-road...

Now, I think modern monetary theory has this right. The WeekHow much would a job guarantee actually cost? Jeff Spross

The comprehensive survey by the Pew Research Center released Thursday found deep partisan divides over whether the country is achieving some of the values critical to maintaining democratic principles. Suggests that populism is on the rise across the population asa whole regardless of the partisan divide and large cohort that self-identifies as independent. This in turn suggests different forms of populism. The Hill Survey: Most say US not living up to its democratic idealsReid Wilson

"Voluntary" censorship at Facebook and Twitter.Craig Murray BlogBlocked By Facebook and the Vulnerability of New MediaCraig Murray, formerly British ambassador to Uzbekistan and Rector of the University of DundeeSee alsoThe DuranCENSORSHIP CAUGHT: Facebook tries to shut the door on The Duran Seraphim Hanisch

The industry trade journal weighs in.American Banker — Bank ThinkPostal banking is back on the table. Here's why that matters Kevin Wack See also WikipediaPostal savings system Also Postal Savings Bank of China

Here’s what you need to know about the economy’s prospects.