Mike Norman Economics

A plunge in gov't spending y-o-y, but that doesn't tell the whole story.

Projection.China do not seek world hegemony since the Chinese are aware that their civilization is not exportable. It is uniquely Chinese.In a sense, China’s strategic use of infrastructure, physical as well as digital, bespeaks a certain continuity from the Qin era. Massive investment in flood control, river transport and irrigation created China, and the export of Chinese infrastructure well may hard-wire a great deal of the world into China’s economy.But China is indifferent to how we...

Convergence economics.Global InequalityShould some countries cease to exist? Globalization, migration & the fate of nationsBranko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic Inequality, senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International PeaceBranko...

Let’s stir things up for the New Year by continuing with one of my recent themes. A quote from an opinion piece in the NYT this morning [January 3rd]: “James Madison boasted that the Constitution achieved “the total exclusion of the people, in their collective capacity....This post shows what MMT is up against as an institutionalist macroeconomic theory that is embedded in political economy, that is, the approach to economics as a policy science. As a policy science, MMT assumes a democratic...

New course coming up Feb 8-Mar 8. Free registration.Modern Monetary Theory: Economics for the 21st CenturyDemystify macroeconomic principles and terminology and discover how Modern Monetary Theory (MMT) provides explanations for some of the world's most troubling financial concerns.https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century

Russia-China technology-sharing. The West's worst nightmare.Asia TimesChina and Russia team up to establish joint moon baseGabriel Honrada https://asiatimes.com/2022/01/china-and-russia-team-up-to-establish-joint-moon-base/

Well, its 2022 already and we enter the 18th year of this blog. Regular readers will know that I have studied the Japanese economy in considerable detail over the course of my career and when it experienced one of the largest commercial asset price bubble busts in history in early 1992, the questions I was asking and the data I was looking out were important in framing the way I have done macroeconomics since. I consider Japan to be one of the nations that was early to embrace the madness of...

Hmmm… let’s see how this works out for NASCAR now… Trump thing still not operational....NASCAR walks back 'Let's Go Brandon' sponsorship approval, Brandon Brown spokesperson says https://t.co/d0eRi05EJN #FoxBusiness— Son of Liberty (@flyby2474) January 3, 2022

Let’s see how high this follower count goes….Joe Rogan already has 8 million followers on GETTR.— Matthew Kolken (@mkolken) January 2, 2022

Not a good development for the economy and stock market.