Mike Norman Economics

If the global financial crisis (GFC) of the mid-to-late 2000s and the COVID crisis of the past couple of years have taught us anything, it is that Uncle Sam cannot run out of money. During the GFC, the Federal Reserve lent and spent over $29 trillion to bail out the world’s financial system,[1] and then trillions more in various rounds of “unconventional” monetary policy known as quantitative easing.[2] During the COVID crisis, the Treasury has (so far) cut checks totaling approximately $5...

MAGA might be going short now on the “stagflation!” thesis…Post yesterdays Biden admin disaster +6% CPI report analysis from Navarro on with Bannon yesterday. Navarro in 100% congruence with the MMT thesis on their figurative "inflation!" ie Dems forcing too much fiscal and not enough real products and services to consume creating "inflation!"...Navarro actually says he’s going short now; this is who you are trading against:

Provision of government for public purpose.New WaylandThe Supply Process: MMT VersionNeilWhttps://new-wayland.com/blog/the-supply-process-mmt-style/

People reacting emotionally to inflation numbers. They don’t understand what investing is all about.

Why the climate crisis will not be solved.MR OnlineCOP26: Military pollution is the skeleton in the West’s climate closetJonathan CookOriginally published: Middle East Eyehttps://mronline.org/2021/11/10/cop26-military-pollution-is-the-skeleton-in-the-wests-climate-closet/See alsoPopular ResistanceCOP26: How The World’s Militaries Hide Their Huge Carbon EmissionsChristopher JohnsonOriginally at The...

Fiscal. Central banks have a limited role to play, mostly in maintaining financial stability.Multiplier EffectIs Climate Change a Fiscal or Monetary Policy Challenge?Lekha Chakraborty | Professor, NIPFP, and Member of Governing Board, International Institute of Public Finance, Munich

Dani Rodrik talks some sense, both economic and practical. This post reveals the dichotomy between geoeconomic interests and geopolitical interests. The geopolitical view is that it's a zero-sum winner-takes-all game. The geoeconomic view is that conflict is destructive while world trade is beneficial. US business is backing the latter view. The MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex) is heavily committed to the geopolitical view. This has...

About Weiying Zhang, China's "chief economist," Xi Jinping close advisor, and architect of China's development plan. Important for understanding China's blazing rate of progress while simultaneously eliminating absolute poverty and growing the middle class. It is based chiefly on privatization but together with a managed economy.Institute of Economic Affairs BlogExplaining China’s economic miracleRainer Zitelmann, German historian and...

 End of an era.In other words, the lameness of Immelt is the direct result of Welch’s show pony “leadership”. Management succession is one of the most important duties of a CEO and Welch blew that too....Naked CapitalismGeneral Electric Breaks Up, Symbolizing Decline of American Manufacturing and the High Price of Financialization | naked capitalismYves...

No longer content with Miami condos and London townhouses, investors are pouring money into properties in all corners of the world, fueling inequality and driving up prices, Pandora Papers investigation reveals.…The has a precedent in the earlier Gilded Age and the time of great industrial entrepreneurs when the great fortunes that founded American oligarchic dynasties bought up choice RE around the world, even Africa. ICIJSecret real estate purchases are a driving force behind the offshore...