Mike Norman Economics

No-brainer. Increased efficiency and productivity, lower costs, and standardized production. The Luddite argument doesn't apply since jobs that can be automated and robotized are "shit jobs" that machines should be doing rather than people, whose time can be put to better use. Paid leisure is a better use but there are a lot of other substitutes for "shit jobs." Of course, this would require re-configuring the system, which is both an economic and political matter, but it is doable.NetNet...

 Bad numbers, but only the numbers. No mention the full-on assault by the US and its vassals to destroy the Venezuelan economic by siege tactics for ideological reasons that mask the real intent to plunder the country's resources again in the name of spreading freedom and democracy.FRED BlogAn update on Venezuela’s troubled economy

The head of the International Monetary Fund has warned that the global economy risks a return of the Great Depression, driven by inequality and financial sector instability.Speaking at the Peterson Institute of International Economics in Washington, [Bulgarian economist and former head of the World Bank] Kristalina Georgieva said new IMF research, which compares the current economy to the “roaring 1920s” that culminated in the great market crash of 1929, revealed that a similar trend was...

McConnell proposes a debt ceiling "fix" for now. But the main focus should still be on fiscal flows. 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/

MintPress News How Bellingcat Launders National Security State Talking Points into the PressAlan MacleodTurcopolierWould the US go to war with China over Taiwan?Col. W. Patrick Lang, US Army (ret.) PluralisticWe paid to develop Merck's covid pillCorey DoctorowAlterNetArnold Schwarzenegger compares Jan. 6 to the Kristallnacht of Nazi Germany: 'This whole thing can go really quickly south'Alex HendersonMR OnlineForbes reveals why the U.S. Government is trying to extradite Venezuelan diplomat...

Why should the state address inequality?Clint BallingerSo Long As You Are Happy

 Counter-argument to the legality of "the coin." Preston Byrne is a lawyer. He explains why he thinks it unlikely the courts would support such a gambit.The fourth section of the Fourteenth Amendment might fare better in the courts, but it has certain qualifiers that the court could use to deny applicability. However, it seems to be stronger than the "the coin," which can only be described as a gambit that Congress never intended in passing the legislation.However, a further issue is that...

Elites worried about populism and the reaction to neoliberalism?While the United States and China are at loggerheads on many issues from trade to intellectual property rights to South China Sea islands, and the talk is rife of a new Cold War, internally both countries are trying to adopt policies to reduce income inequality. The similarity in objectives, and in some cases, even in policies is the product of similarities in the evolution of inequality over the past decades, and of increased...

Snowden's view of "the coin." He knows nothing about government finance.SciFiAddictsEdward Snowden: No fiat currency has ever held its value beyond the briefest window of ...See alsoAnother guy who doesn't either.Irish TimesGovernment debt and magical thinking - The Irish TimesJames Murphy