Mike Norman Economics

In the introduction to “The Spoils of War,” an extraordinary new book by Andrew Cockburn, he makes a straightforward assertion about the U.S. military. “War-fighting efficiency has a low priority,” he writes, “by comparison with considerations of personal and internal bureaucracies. … The military are generally not interested in war, save as a means to budget enhancement.”…Summarizing what has been known for decades. The Intercept“The Spoils of War”: How Profits Rather Than Empire Define...

Market concentration.TechSpotBitcoin is largely controlled by a small group of investors and miners, study findsShawn Knighthttps://www.techspot.com/news/91937-bitcoin-largely-controlled-small-group-investors-miners-study.html

Apparently, inflation in Australia has come ‘roaring’ back, if you believe one financial commentator today. There has been a lot of talk about how inflation is spiralling upwards and it demonstrates the MMT ‘quackery’. If you examine today’s data release from the Australian Bureau of Statistics – Consumer Price Index, Australia (October 27, 2021) – which relates to to the September-quarter 2021, then it becomes clear that the slightly elevated CPI result is largely due to uncompetitive...

Incredible. Musk even makes Bezos look poor! Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

Arguing of pay-for that are not necessary for spending. Spending and taxation are separate fiscal operations,. Ideally, each should be directed at objectives in terms of the socio-economic system taking politics into account as an expression of the will of the people, spending for public purpose to promote the general welfare and common good, and taxation to make space for public spending as well as to control inflation. Taxation can also serve to regulate the system by providing positive...

Conservative argument against government spending that is not simplistic like government bankruptcy or hyperinflation. Another sign the debate is advancing.Project SyndicateThe True Costs of Government SpendingMichael J. Boskin is Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution. He was Chairman of George H.W. Bush’s Council of Economic Advisers from 1989 to 1993, and headed the so-called Boskin Commission, a congressional advisory body that...

More signs the debate is shifting.Tax Research UKThe New Economics Foundation talks fiscal rules within the context of MMT – even if they aren’t saying so – and the result is really goodRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy...

History lesson in coups. What is not mentioned is the attempted soft coup against Trump. Turns out that coups are now bipartisan in America.Tom DispatchAn American CoupAlfred McCoy | Fred Harvey Harrington Professor of History at the University of Wisconsin–Madisonhttps://tomdispatch.com/an-american-coup/See also for the flip side.The GrayzoneRussiagate Archives - The Grayzonehttps://thegrayzone.com/tag/russiagate/

The US elite are delusional. Counting the ways.Moon of AlabamaOn The Delusion In U.S. Foreign Policy And What Might Change Ithttps://www.moonofalabama.org/2021/10/on-the-delusion-in-us-foreign-policy-and-what-might-change-it.htmlSee alsoAsia TimesThe Taiwan issue will fade away – literally by David P. Goldmanhttps://asiatimes.com/2021/10/the-taiwan-issue-will-fade-away-literally/

This month, the Vanderbilt Law Review published a 69-page paper by Saule Omarova, President Biden’s nominee to head the Office of the Comptroller of the Currency (OCC), the Federal regulator of the largest banks in the country that operate across state lines. The paper is titled “The People’s Ledger: How to Democratize Money and Finance the Economy.”Sounds like a (pretty radical) plan.Wall Street On ParadeBiden’s Nominee Omarova Has a Published Plan to Move All Bank Deposits to the Fed and...