Mike Norman Economics

Trump wants “the kitchen sink!”…

lol… the good ole’ “crowding out!” Art degree thesis … yo it’s probably going to cause a short term >$500B reserve drain at Depositories …. 🚀Markets will suffer a $1 trillion aftershock once a debt limit deal is struck A supply burst to restock Treasury 's cash will raise short-term funding rates and tighten the screws on the US eco just as it’s on the cusp of recessionBy @mccormicklizhttps://t.co/WeW92l0b25— Saleha Mohsin (@SalehaMohsin) May 18, 2023

Shooting yourself in the other foot?Naked CapitalismThe EU Looks Doomed to Repeat its Russia “De-Risking” Strategy with ChinaConor Gallagher

Perfect follow to Tom’s Pepe le Pew post below..  Here this MAGA gold seller douchebag went to the same Art degree school as  Escobar and is predicting the same debt doomsday apocalypse….Both probably alienated somehow…

 Review of Michael Hudson's latest book, The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point — and its contemporary implications. Embellished with personal interaction with Michael Hudson. Michael Hudson is becoming the go-to economist for reformers.Also of note is the venue. Michael Hudson has been an influencer in China for years. Is Russia next?Unfortunately, most of the people reading Hudson don't seem to be aware of the difference between public and...

I think Steve Keen has a point worth considering about fixation on a JG — with a caveat — I don't think he is right about canning a JG at this point.While innovation has in the past led to an increase in leisure, the digital age promises to deliver the potential for much greater leisure since the need for human labor ("jobs") will decrease. To continue focusing on "jobs" (full employment) is a sort of Luddite stance standing in the way of both increased leisure and also better ecology.The...

Oliver Blanchard's revised textbook revisits "the money multiplier." Brian explains that he does not dismiss it but adds an "epicycle."To clarify terminology, this is treated in the philosophy of science, for example, by Thomas Kuhn in his influential book on revolutions in science. According to Kuhn, science exhibits paradigms in terms of which hypotheses are advanced and theories developed. This is the process of "normal science." But as dominant theories are developed and hypotheses...

In my 2015 book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale (published May 2015) – I traced in considerable detail the events and views that led to the creation of the Economic and Monetary Union (EMU, aka the Eurozone) once the Treaty of Maastricht was pushed through as the most advanced form of neoliberalism at that time. The difference between the EMU and other nations who have adopted neoliberal policies is that in the former case the ideology is embedded in the treaties,...

Harvard, MIT, Stanford, Princeton, Chicago, and the University of California, Berkeley.SlateAlmost Every Powerful Economist We Have Went to 1 of 6 Schools. That’s Not Great! Pete McKenzieh/t Naked Capitalism

The Zombie in question is neoliberalism.Equals BlogWhat will it take to kill a Zombie?Max Lawson, Head of Inequality Policy at Oxfam International & EQUALS Podcast co-host. He is also Chair of the Global People’s Vaccine Alliance