Mike Norman Economics

If we get inflation, it could be minus wage pressure across the board but only in places were the labor supply is short. Ordinary workers may not see much relief in the expansion, replicating their situation in the long and slow recovery period, owing to structural shifts in the economy — downsizing, offshoring, automation and robotics, etc.Asia TimesThere ain’t-a no Phillipsy Curve, once again David P. Goldman

Usual "out of money!" rant from these disgraced people:Medicaid's purpose is to provide access to medically necessary health care to persons who, because of limited resources, have less capacity to secure care for themselves. AEI's James Capretta explores reforms that will improve the system: https://t.co/UpdKTPaDtw pic.twitter.com/G8SaY0Rtvm— AEI (@AEI) January 11, 2018

UFB.  Yeah driving over a bridge should be a coin flip whether it will fall down good idea. These people are out there folks... It's so much more important for high-schoolers to learn basic statistics than for them to learn trigonometry -- whoever made that decision 150 years ago should be exhumed and fired — Jesse Singal (@jessesingal) January 11, 2018 Then here this journo (shocking...) endorses it as if on cue: +1with a hearty AMEN. Statistics was unbelievably useful to me, to this...

A few days ago, Jared Bernstein posed some Questions for the MMTers in order to gain a “better understanding [of our] arguments.” We appreciate his interest in our ideas and, especially, his direct appeal for clarification of our views. He raised four big questions, which our Australian counterpart, Bill Mitchell, has already answered in his own three-part series. What follows is a response from two North American MMTers. New Economic PerspectivesAnswers from the MMTers Stephanie Kelton...

What exactly don't they understand about a currency sovereign?Zero HedgeMoody's Warns Washington - USA Credit Rating At Risk Over Trump Tax Cuts Tyler Durden

Did you know that war propaganda is against international law? Article 20 of the International Covenant on Civil and Political Rights, which was ratified by the United Nations General Assembly in 1966, obliges states to impose certain restrictions on freedom of speech. The article was the product of a long debate among UN members. Countries from the Soviet bloc and many non-aligned nations, notably Brazil, were keen to include a prohibition on propaganda for war, and also to make it as...

I viewed this yesterday but I had reservations about putting it out as it seemed to be full of conspiracy theories, but after reading Philip Giraldi's article about the neocons, where he said Washington will announcing to the public on the 16th Jan the details of how to prepare for nuclear war, I decided we can't be complacent and just say this is a conspiracy theory, we have to be open minded. We need to get as many people as we can to see what's going on, then they might discover that...

An absolutely fascinating documentary about the nature of our universe. All time is here at once but that doesn't mean our future is predetermined because it is already in place. We know how the past shapes the future, but what if the future also shapes the past, and what if this reaction is occurring all the time? Also, advanced mathematical physics shows us that consciousness plays a role in bringing our universe into existence, so could it be, therefore, that consciousness -  which...

Gavin Kennedy's new book on Adam Smith setting the record straight is now available.Adam Smith's Lost Legacy An Authentic Adam Smith Gavin Kennedy | Professor Emeritus, Heriot Watt University

The cost of housing is so outrageous in California that stories that might once have seemed preposterous now seem completely unsurprising. Case in point: In a scene straight out of a dystopian movie about a ravaged future Earth, homeless people set up an encampment at a toxic Superfund industrial site in Oxnard, saying they had nowhere else to go. Media coverage of the extreme cost of housing in the Golden State has focused on how it has increased homelessness and poverty, led more people...