Mike Norman Economics

My blog post last week – On the path to MMT becoming mainstream (April 17, 2018) – discussed the way in which the language and concepts that have been developed by the Modern Monetary Theory (MMT) authors are now permeating mainstream narratives and the media. While this has increased the pushback and hostility from both the Right and Left opposition to MMT, it is also a sign that the public understanding of the way in which the monetary system works and the policy options available to...

Interesting post  on the current state of National Income Accounting from the CFR people out yesterday... 'must read' for us imo.... And the timing is interesting as Tim Cook has a meeting with Trump on the same day... hmmmm....Maybe Cook was having to explain what is REALLY going on to the Trump people?   Which is not accurately being depicted/illustrated by the current national accounting abstractions?  Kudlow the History major will be well over his head here for sure... maybe not...

This just in. Read.Putin talks about a big new fiscal expansion, which will be "paid for" with spending cuts and new taxes even though he has unlimited spending power in ruble.And we now find out Russia's been stupidly buying gold for years. Why??This is a total waste of financial and real resources and an even stupider subsidy to the mining industry.Then there's this...Russia's empty threats about retaliation against U.S. strikes on Syria. "We'll shoot down the missiles and target launch...

China's Defense Minister Wei Fenghe has called on Shanghai Cooperation Organization member countries to improve cooperation in defense and security. Assistant Director of the Center for Regional Security Studies of the Chinese Academy of Social Sciences Dr. Yang Danzhi believes that the Chinese proposal has come at the right time.... Global North and West lining up for WWIII with Global South and East as US stumbles into the Thucydides trap.Sputnik International — OpinionScholar Sees...

Add New York Senator Kirsten Gillibrand to the list of big name Democrats who want the U.S. Postal Service to double as a bank. The potential 2020 contender is rolling out legislation today that would require post offices to offer their customers basic financial services, such as checking and savings accounts and small, short-term loans, that many Americans currently can’t access affordably. While the idea of postal banking has been backed by progressives like Elizabeth Warren of...

Britain and the US will not stand shoulder to shoulder against Putin’s regime as the EU is never likely to agree to tough sanctions, the Chancellor has warned.  But unified financial sanctions are more difficult to arrange, as the UK only joins actions when they are imposed either at the UN or the EU level.... The TelegraphUK will not match US sanctions on Russia as Hammond blames EU dissent Tim Wallace

British government official agencies are the patrons, managers and funders of the White Helmets, who have been the go-to source for the mainstream Western media reporting on the ongoing Syrian war. For good measure, the U.S. State Department's Agency for International Development (USAID) has kicked in $23 million to finance Mayday Rescue, the cutout between the White Helmets and the British Ministry of Defense, the Home Office, the Foreign and Commonwealth Office and 10 Downing Street....

The Russian investigation began when Mossack Fonseca (Panamanian law firm) had its “Panama Papers” leaked to journalists in 2016. ... Fort RussInvestigation: Russian politicians embezzle billions offshore Innesa S.

Effective, efficient, and inexpensive. Poor sanitation is responsible for 80 percent of world health issues, like infectious disease, and four percent of deaths. That may sound small, but in context, it is about 1,500 children every day. It can also lead to chronic illnesses that plague both children and adults. In areas without plumbing, the options are dumping and hauling sewage, which can be both expensive and dangerous… Public toilets also mean more women and girls are subject to...

Just like I told you.