Mike Norman Economics

Stephanie is now a contributor to Bloomberg View. Stephanie Kelton is a professor of public policy and economics at Stony Brook University. She was the Democrats' chief economist on the staff of the U.S. Senate Budget Committee and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders. This is her maiden post. Bloomberg View — Opinion Use Fiscal Policy, Not the Fed, to Fight the Next Slump Stephanie Kelton | Contributor

Here’s my latest take on what’s going on.

Diplomatic ping-pong. China seeks a "win-win," while Washington regards geopolitics as a zero-sum game.Asia Times Beijing’s ‘win-win’ Korean Peninsula scenario Xuan Loc DoanSee alsoNot only Turkey.Geopolitics AlertTurkey Breaks with NATO, Refuses to Expel Russians Jim Carey

[embedded content] The imminent introduction of oil trading in yuan is a very bold move by the Chinese, because the US will not give up the basis of its hegemony – the dollar as the world’s reserve currency – without a fight, Max Keiser, host of RT’s financial program ‘Keiser Report’ has said. The Chinese plan to roll out a yuan-denominated oil contract before the end of this year is a very brave move, since countries who “tried to exit the oil-dollar matrix have met terrible ends,”...

“At the moment, it’s a game of chicken with no off-ramp,” Tom Pickering, another former US Ambassador to Russia, has said. “And we need to be looking at the off-ramp.” While this piece is mostly about Russia and Putin, this observation about about China is also noteworthy: Regime change may not be being spoken of in terms of China, but the latter fully understands that it is at the top of the Bolton-Pompeo-Trump ‘hit list’, and that its standing as ‘revisionist threat, number one’ enjoys...

“Russiagate” and the Skirpal affair have escalated dangers inherent in the new Cold War beyond those of the preceding one. Playing with fire while playing politics. The irresponsibility of this is great enough to disqualify for leadership or official capacity.The NationUnproven Allegations Against Trump and Putin Are Risking Nuclear War Stephen F. Cohen | Professor Emeritus of Russian Studies, History, and Politics at New York University and Princeton UniversitySee alsoLet’s Not Fall Into...

When it comes to inequality, a growing body of evidence shows that people across countries underestimate the size of the gap between the rich and poor, including their wages. This can undermine support for policies to tackle inequality and even lead to apathy that consolidates the gap. But how exactly are existing perceptions of inequality measured by social scientists?... Irene Bucelli, of the LSE and Franziska Mager, of Oxfam GB, summarize the results from an Oxfam volunteer research...

This may go down in history as the week the mobile web became the web.On Monday, Google began indexing and ranking pages on its search engine based on the mobile versions of websites rather than the desktop ones, the company announced. The change may seem minor, but it underscores how Google views and presents the web to the world—as mobile first. "The medium is the message" — Marshall McLuhan Quartz Google has made it official: The internet is now mobile-firstAshley Rodriguez

This is the second part of my response to an article published by the German-language service Makroskop (March 20, 2018) – Modern Monetary Theory: Einwände eines wohlwollenden Zweiflers (Modern Monetary Theory – Questions from a Friendly Critic) – and written by Martin Höpner, who is a political scientist associated with the Max-Planck-Institut für Gesellschaftsforschung (Max Planck Institute for Social Research – MPIfG) in Cologne. In this part we discuss bond yields and bond issuance. I...

The purpose of this article is to show how the proposed $60B trade tariffs on China will impact macro fiscal flows and investment markets. To assess this regulatory change, a balance of sectoral flow analysis has been used (following British economist Professor Wynne Godley's work)…. Seeking AlphaImpact Assessment Of $60B China Trade Tariffs Alan Longbon