Mike Norman Economics

Important because of who wrote it.Project SyndicateChina’s Response to DecouplingYu Yongding, a former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006

Note that there is a difference between "de-dollarization" as replacement of the USD as the dominant global reserve currency and dollar avoidance to reduce exposure to political and economic manipulation by the US government and financial system.Geopolitical Economy ReportUS Congress plots to save dollar dominance amid global de-dollarization rebellion Ben Norton

...what actually is the base rationale for action? A particularly searching answer was offered in mid-June by ECB Executive Board member Isabel Schnabel in a talk she gave in the financial center of Luxembourg.Most of the post answers this question. Depressing from an MMT standpoint.ChartbookChartbook 223 Acting out of ignorance: the new logic of central bank inflation-fightingAdam Tooze | Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European...

Neil summarizes the MMT position as put forward by Bill Mitchell.There is a need to distinguish special cases from the general case. While the general case MTT view may be agreed upon, reactions to differences in special cases (US, GB, Australia) may create the appearance of disagreement about the general case where there is no fundamental disagreement since the apparent disagreement is accounted for by national conditions that supervene.This is an interesting post not only in terms of...

Last week – RBA wants to destroy the livelihoods of 140,000 Australian workers – a shocking indictment of a failed state (June 22, 2023) – I wrote about the sense of being in a parallel universe when one reads official statements from the Bank of Japan and juxtaposes them against the stream of statements coming out of other central banks. The day after I wrote that post (June 23 2026), the Japanese e-Stat service (the portal for Japanese government statistics) released the latest – Monthly...

If you're counting on Asia's many new power centers to compete and clash – don't. The Greater Eurasia Partnership is set to integrate them all – from the SCO, EAEU, and BRICS, to emerging new currencies – in order to replace the 'rules-based order [my-way-or-the highway].'The CradleThe Greater Eurasia project: Building bridges and breaking barriersPepe EscobarRelatedSputnik International (Russian state-sponsored media)Existing Global Financial System Exhausted, Not Up to New Challenges -...

Recent poll from a month ago… the Brandon people still have a serious political problem due to “inflation!”… will be continuing to tell the monetarists at Treasury/Fed to correct this which means ever higher policy interest rates (and continued QT) still for now…  headed for a “full Volcker”? 🤔Thanks to reckless spendingby POTUS and Congressional Democrats: More in U.S. Say Inflation Is Causing Financial Hardship https://t.co/3hTwwJ73q8 #— Senator John Cornyn (@JohnCornyn) May 22, 2023...

Macron et al fronting for the banksters? The ideal of finance capital is private borrowing instead of public financing and the rationale for it is designed for purpose.William Mitchell — Modern Monetary TheoryThe New Global Financing Pact equals the old failed global financial arrangementsBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

LOL can’t even make this up…. Two Roman Catholic “hypocrites!” (Mat 23)  criticizing the Church’s recommendation of the dialogic method which is the founding methodology of their entire Christian sect… UFB… If any Christian out there is trying to figure out why all this gender bending is currently going on it’s to provide a high profile opportunity to reveal hypocrite morons like this… 

Is this situation the result of incompetence or it is propaganda masquerading as science?William Mitchell — Modern Monetary TheoryBeware: pension systems about to collapse. Not! More mainstream fictionBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, AustraliaRelated Or is it the design of the system itself so that this situation is just one aspect of a syndrome. Caitlin Johnstone argues it is the result...