Mike Norman Economics

It’s Wednesday and I am now ensconced in Kyoto, Japan for the months ahead. I will report on various aspects of that experience as time passes. Today, I reflect on a debate that is going on in Australia about the situation facing live musicians. Should promoters be able to employ them for poverty wages including ‘nothing’ while still profiting or should they be forced to pay the musicians a living wage. You can guess where I sit in the debate.…We can change that to, "Everyone should be paid...

Bond markets are finally getting interesting, with the Bank of England launching emergency purchases to restore order in the gilt market. Since I am not in constant contact with people trading gilts, I will just offer a tentative description of what seems to be going on, and what it “really means.”...Bond Economics Gilt Market Mayhem!Brian Romanchuk

Large holes in both Nord Stream 1 and 2 pipelines in the Baltic Sea. Sabotage is being considered. Energy markets on alert. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

The leakages and explosions at the Nord Stream and Nord Stream 2 pipelines take the European energy crisis to another level.Analysts are worried that the leakages and explosions on both lines are not an incident but linked to the launch of the Baltic Pipe.A disruption of Norwegian energy supplies to the European Union or the UK could lead to faster depletion of natural gas storage facilities in Europe this winter.Taking economic warfare to a new level.OilpriceEuropean Energy Security Faces...

Some specifics about the MMT position on addressing inflationary pressure based on analysis of relevant causal factors — albeit without details owing to the scope of a post. For example, there are demand side reasons for rising inflationary pressure and also supply side. Stephanie Kelton claims that the predominant causal factors now are supply side and so addressing the issue from side of demand is the wrong approach, whereas expanding supply where there are shortfalls and bottlenecks is...

I was passed a link to the paper “Exchange Rate and Inflation under Weak Monetary Policy: Turkey Verifes Theory” by Gürkaynak, Refet S. and Kısacıkoğlu, Burçin and Lee, Sang Seok. (They used Turkey, and not the apparently preferred Türkiye.) It was claimed by a well known blowhard economist to tell us something about MMT — but to be clear, that was an assertion by someone who makes a living by being wrong about macroeconomics, and not the authors of the paper. Although it has some relevance...

Today, I am skipping my Japanese language class and heading to the airport. I am taking up a position at Kyoto University under a JSPS Invitational Fellowship. I am working with the team in the Resilience Unit there on a project studying the design of fiscal policy for building national resilience using Modern Monetary Theory (MMT) principles. Resilience is an important part of the degrowth and deep adaptation agenda and I will spend some months there working on with other researchers. The –...

No bueno….Just three legislative days remain before funding runs out. https://t.co/xUQPZtzF10— ABC News (@ABC) September 26, 2022

Looked like we were getting some positive flows late last week but no such luck. Tax drains continue.

The title should contain "allegedly." The facts will likely be decided in court.QuartzHow Donald Trump got his Deutsche Bank loansNate DiCamillo & Scott Nover