Mike Norman Economics

 I quite like the idea of a digital currency because it will make it much harder for organised crime to operate, but I would still like anonymity for daily transactions. China said it intends to keep cash, but they are also saying here that for small transactions people will have more animosity with the new digital Yuan than they do with regular digital payments. The new digital currencies do not need extensive mining either so they don't more energy that regular digital transactions. Mu...

Moon of Alabama (???)The New Chinese Wonder Weapon Which Likely Isn't OneRTConvenient and inexpensive way to space-travel: China responds to reports of hypersonic missile launch that apparently shocked USStrategic Culture Foundation (war futures)The U.S. ‘Longer Telegram’ Is Hostile Interventionism in China, Posing as CompetitionTASS (parting of the ways)Moscow suspends operation of its mission to NATO from November 1 — LavrovFrench envoy leaves Minsk, Belarusian envoy recalled from Paris —...

In my view, the first step in "thinking about inflation" is not thinking about it at all, but rather jettisoning the concept entirely since it is not reducible to simple inputs, as commonly supposed, but rather involves a constellation of factors whose importance varies with conditions affecting both supply and demand on one hand, and institutional factors as well. There is too much investment in what amounts to nonsense like "monetary policy" to redefine the terms so as to fit a realistic...

Expanding bank credit over the next 6 weeks should rekindle the market rally. 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/

Southern governments are captive to the demands of international capital, which prevents them from meeting their people’s real needs. MMT offers a way out, says Jason Hickel.New InternationalistHow to achieve full decolonizationJason Hickel

Setting the record straight.The Case for Concerted ActionThe 2021 Nobel Prize, And Michał Kalecki On The Positive Effects Of Rise In Wages On EmploymentV. Ramanan

 Must-read. (It's short.)Chris Dillow sheds some light on one of the chief economic challenges the developed world faces — productivity stagnation — regarding which many factors are operative, including non-economic ones that lead to "internal contradictions" endemic in the capitalistic system as presently configured.Stumbling and MumblingProductivity in late capitalismChris Dillow | Investors ChronicleSee alsoFun if you know some Marx.MR Online‘Marx in Soho’: An EpilogueCalvin Wu

Rohan Grey and Nathan Tankus are emerging as next-generation MMT stars.Podcast and transcript.MR Online — Money On The LeftMint After Reading: Philip Diehl Talks with Rohan GreyRohan Grey and William Saas

The US Bureau of Labor Statistics published the latest JOLTs data last week (October 12, 2021) – Job Openings and Labor Turnover Summary – August 2021 – which has raised a possible shift in bargaining power in the US labour market towards workers. The most obvious sign of that is the rising quit rates, which are most prevalent in the low-wage sectors. While there is still some slack in the US labour market, the evidence suggests that workers are taking advantage of the improved job...

 This has happened to me, I've demolished someone on twitter, which easy to do with science deniers, only to wake up at 3am and feel that I was far too horrible and mean, but when I look at my tweets after I have gotten up, I find that I was actually quite reasonable and polite. But I've had it happen in other situations too. When I wake at 3am or so, I’m prone to picking on myself. And I know I’m not the only one who does this. A friend of mine calls 3am thoughts “barbed-wire thinking”,...