Mike Norman Economics

I keep hearing from friends who live in Britain that I will be shocked when I get there on Thursday of this week after a nearly four year absence. One friend, who has just returned said that the deterioration in the public infrastructure is now fairly evident. Despite my absence, I have been keeping a regular eye on the data and so these anecdotal reports and reflections come as no surprise. It is obvious that the Tory government has sought a depoliticisation strategy by cutting local...

 More on "inflation" and the policy rate.Bond EconomicsWhy The "Friedman Thermostat" Analogy Should Be Uncomfortable For The MainstreamBrian Romanchuk

Iran’s Supreme Leader Ayatollah Khamenei gave his official approval to a new 20-year comprehensive cooperation deal between the Islamic Republic of Iran and Russia.The agreement will replace the 10-year-deal signed in March 2001 and has been expanded not only in duration but also in scope and scale.The new deal includes far-going agreements on defense and energy.Iran previously concluded extensive trade deals with China, as well as a "strategic partnership." Iran is also approved for...

We can’t forget this QT is still happening in the background too… in view of S&Ps recovering back to a old 2 year high this week…Fed steadily keeps working this balance down and it at least takes some reserve asset pressure off “money center” banks that have ample/excess reserves… This “unprinting money!” is supposed to be bearish according to monetarists… yet equity index values are currently back to all time highs after a 2 year hiatus…Concomitant the daily RRP sub-account is being...

More on "inflation."Bond Economics Waller CommentsBrian Romanchuk

Economist Stephanie Kelton has made a name for herself by insisting that deficits don’t matter. In an interview with Jacobin, she argues that we're seeing a paradigm shift away from free-market dogmas and austerity.JacobinStephanie Kelton Thinks the Conventional Wisdom Is ChangingLukas Scholle interviews Stephanie Kelton, professor of public policy and economics at Stony Brook University,

Danny Haiphong interviews Micheal Hudson. Video and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismCredit the Economic PlannerMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking UniversityIndia and Global Left interviews Michael Hudson. Video and transcript.India...

Episode 10 in our new Manga series – The Smith Family and their Adventures with Money – is now available. We are approaching the climax for Season 1.Have a bit of fun with it and circulate it to those who you think will benefit …William Mitchell — Modern Monetary TheoryThe Smith Family manga continues – Episode 10 is now availableBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

 Nice rant… Dems in big trouble….Best rant ever. 🔥🔥🔥“4 years ago my rent was $1,200 a month… it’s now $2,100!”“My car insurance from 4 years ago until now…has gone from $130 to $240 per month!”“My electric bill was averaging $45, now it's averaging $125!”pic.twitter.com/5Zo06zIqNp— I Meme Therefore I Am 🇺🇸 (@ImMeme0) January 17, 2024

OverviewSince 2020, the richest five men in the world have doubled their fortunes. During the same period, almost five billion people globally have become poorer. Hardship and hunger are a daily reality for many people worldwide. At current rates, it will take 230 years to end poverty, but we could have our first trillionaire in 10 years.This report shows how a huge concentration of global corporate and monopoly power is exacerbating inequality economy-wide. Seven out of ten of the world’s...