Mike Norman Economics

Today, in the Real Estate Newsletter: The Rapid Increase in Rents Continues New Leases up Sharply year-over-year in September... Calculated RiskThe Rapid Increase in Rents ContinuesBill McBridehttps://calculatedrisk.substack.com/p/the-rapid-increase-in-rents-continues

October ended with just under $520 bln net flow.

Raising the level of collective consciousness societally underlies what it will take to coordinate systemic change in the face of climate change, which requires a reconfiguration of the world system. Without the underlying level of collective consciousness that is minimally required, there is no chance of change happening in time to avert climate disaster. That is difficult enough, but that is only to initiate system redesign. Whether humans are intelligent enough to redesign a system that...

A close read of the reports shows exactly why we should never turn to “national security” institutions to address a crisis that is fundamentally global, requiring solidaristic action that transcends nationalism. Taken together, the analyses paint a grim picture of a future where, in the face of mass displacement, water shortages, hunger and death, the U.S. response amounts to hunkering down and protecting its military mission, its dominance and its alliances against geopolitical...

William Saas interviews MMT economist Mat Forstater,  professor of economics at the University of Missouri-Kansas City and research director, The Global Institute for Sustainable ProsperityMoney On The LeftRadical Heterodoxies & Parallel Institutions w/ Mat ForstaterWilliam Saashttps://moneyontheleft.org/2021/11/01/radical-heterodoxies-parallel-institutions-w-mat-forstater/

MMT Trader monthly subscription rate will go to $1,250/mo starting December 1. There are important reasons why I’m doing this. However, you can still get it now for the current rate of $500 per month..

SEZs are enclaves that have been granted exemptions to the normal business rules governing their home countries. They are created by governments to stimulate economic development, often through a combination of tax breaks, regulatory streamlining, and exemptions from the most costly rules for businesses. Most are industrial parks, although they come in many shapes and sizes ranging from airports to full fledged cities.As tensions between China and the US grow, both countries have begun using...

It's complicated and government doesn’t seem to understand how the goods distribution system works.Naked CapitalismWhy the US Supply Chain Crisis Is Intractable and Will Get WorseYves Smith https://www.nakedcapitalism.com/2021/11/why-the-us-supply-chain-crisis-is-intractable-and-will-get-worse.html

I explain the problems by first starting with a very simple idealised economy in which money velocity is well-defined and is perhaps somewhat useful. I then add complications that appear in the real world which make velocity effectively impossible to measure....Bond EconomicsWhy We Cannot Measure Money Velocity DirectlyBrian Romanchukhttp://www.bondeconomics.com/2021/11/why-we-cannot-measure-money-velocity.html

As populist parties have surged across advanced democracies so, it seems, has a ‘globalisation backlash’. This column provides descriptive evidence on the backlash, discusses its theoretical underpinnings within standard trade models, and reviews the evidence on its drivers. It appears that globalisation is at stake partly due to reasons that are not strictly related to trade. The political sustainability of globalisation – and arguably of the international liberal order – will depend on how...