Mike Norman Economics

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

Here is a video of a presentation I made yesterday to a group of financial professionals in Brisbane. They are running a series on Modern Monetary Theory (MMT) and had originally invited me to debate a gold bug type from the US.I declined given that the person in question had made a series of vapid (being generous) comments about MMT and spending time with that level of hostility would have been a waste.So they decided to run the series over two weeks – with my presentation yesterday and his...

Fiscal reduction starting to bite…Earnings revisions for U.S. have come down sharply per index tracked by ⁦@Citi⁩ ⁦@Bloomberg⁩ pic.twitter.com/5jBoxowvTe— Liz Ann Sonders (@LizAnnSonders) October 6, 2021

Dems are caving… are negotiating with themselves and eventually will pass something via reconciliation…  maybe they still short term default and then try to blame that on GOP who they got to filibuster…The White House is trying to broker a deal by scaling back Biden’s economic agenda https://t.co/DGRliEKsVT— Bloomberg Economics (@economics) October 6, 2021

Sputnik International (inside story)The Other Side: Beijing Reportedly Feared Trump Might Goad PLA Into Attack As Early As October 2020Michael Roberts Blog — blogging from a Marxist economistChina at a turning point?Michael RobertsThe InterceptHow the U.S. Derailed an Effort to Prosecute Its Crimes in AfghanistanAlice SperiSputnik International (putting the cart before the horse)Putin: 'Hysteria, Confusion' in Europe's Gas Markets Caused by Premature Shift to Alternative EnergyOriental...

Some of the Silicon Valley tech people really wanted an advert free, private messenger service. I did at least find that heartening. [embedded content]https://youtu.be/FQd5bo9nIZs