Mike Norman Economics

Criticism of MMT by a finance professional. Some useful questions but his understanding is mostly off-base. The GuardianSpending without taxing: now we're all guinea pigs in an endless money experimentSatyjit Das, former bankerhttps://www.theguardian.com/commentisfree/2021/dec/10/spending-without-taxing-now-were-all-guinea-pigs-in-an-endless-money-experiment

I believe they also need Manchin vote to raise the debt ceiling…Democrat activists are ramping up pressure on Manchin and Arizona Democratic Sen. Kyrsten Sinema to support passage of the legislation in the Senate. "I'm not liberal," Manchin said on Tuesday evening. "I don't know what to tell you. I love you all. I'm just not. I don't try to change Bernie [Sanders]. Bernie is true to himself. I respect and appreciate that. Why do they want to change me?" Some in the business community,...

MAGA is losing their shit over this deal to bypass filibuster … I don’t see the problem it now allows all senate GOP to vote against it and forces all the senate Democrats to vote for it…It’s good politics from McConnell the sheeple hate all “the debt!”  …Minority Leader McConnell: "I believe we've reached here a solution to the debt ceiling issue that's consistent with Republican views of raising the debt ceiling for this amount at this particular time and allows the Democrats to proudly...

The Vineyard of the SakerHow not to win an Olympic gold medalPepe Escobarhttp://thesaker.is/how-not-to-win-an-olympic-gold-medal/Russia ObserverRUSSIAN FEDERATION SITREP 9 DECEMBER 2021Patrick Armstronghttps://patrickarmstrong.ca/2021/12/09/russian-federation-sitrep-9-december-2021/GeopolitikaUkraine could become re-rerun of Cuban missile crisis: Russiahttps://www.geopolitica.ru/en/news/ukraine-could-become-re-rerun-cuban-missile-crisis-russiaPeoples DispatchThe US gathers allies against...

People are freaking out because the Fed is going to accelerate taper. They're scared because they don't know what taper is or does.

Gabriel Zucman@gabriel_zucmanMore from the just-released World inequality Report 2022, available online at https://wir2022.wid.world (with complete data & methodology):The top 10% owns 76% of global wealth, the bottom 50% a mere 2%WORLD INEQUALITY REPORT 2022

Our World in DataGlobal economic inequality: what matters most for your living conditions is not who you are, but where you areMax Roserhttps://ourworldindata.org/global-economic-inequality-introduction

Wakeup call falling on dear ears. Is the US past the point of no return, where even exogenous shock and existential threats fail to overcome polarization?AlterNetThe U.S. is at a dangerous 'level of polarization,' political scientists warnNicole Karlis RelatedPoliticoDemocracy is in trouble, and Biden’s summit is not going to fix itAleksandar Hemon, Aida A. Hozic, Srdjan VuceticECNSJohn Ross: Democracy and policies in China far greater than the westChina Daily (Chinese state media)

In 1983, I started a PhD at the University of Manchester working within the Phillips curve framework. At the time, all the talk was Monetarist – eschewing the use of fiscal policy to reduce unemployment. Unemployment was high after the OPEC oil shocks and governments were abandoning their responsibilities to reduce it because they had drunk the Monetarist Kool-aide. The Monetarists invented a concept – the Non-Accelerating Inflation Rate of Unemployment (NAIRU) or the ‘natural rate of...

Plainly put, conditions remain conducive to higher stock prices so analysis is almost getting boring.