Mike Norman Economics

The latest IPCC report paints a picture of five potential futures for humanity. In the worst one, if corporations keep calling the shots, we could see catastrophic warming of up to 5.7˚C....Humanity is living "beyond its means" with respect to real resource use and externality. The problem is that price is not based on true cost including negative externality, which vitiates the balancing power of market forces based on rationing by price. But true cost accounting would change things in a...

What? Just go get some people from unemployment to fly the planes… sheesh how simple can it be…American Airlines pilots' union to strike over fatigue, overscheduling https://t.co/lr2rpaCwTM pic.twitter.com/gzdZfvZPPx— Yahoo Finance (@YahooFinance) September 8, 2021

MAGA GOP position currently slash and burn… government shutdown on Oct 1 then followed by default around  October 15th… 

Peter May totally pwns Simon Wren-Lewis in typically British style. File under MMT.Progressive PulseTraditional lefty economists….Peter May

The Vineyard of the SakerWhat to Expect from Taliban 2.0Pepe EscobarGraham E. FullerTime to smash the urge of imperial strategic groupthinkGraham E. Fuller | adjunct professor of history at Simon Fraser University, formerly vice chairman of the National Intelligence Council at the CIA, and a former senior political scientist at RANDReminiscence of the FutureZakharova HAS To Express Indignation.Andrei Martyanov, expert on Russian military and naval issues. Martyanov was born in Baku, USSR in...

This should be an embarrassment for the Richond Fed. Loaded with strawman arguments, misrepresentations, false claims and deeply flawed dogma. Worst hit piece ever. https://www.richmondfed.org/publications/research/economic_brief/2021/eb_21-12 https://mikenormaneconomics.blogspot.com/2021/09/absolutely-idiotic-hit-piece-on-mmt-by.html

This is one of the worst hit pieces I have ever run across. Loaded with ridiculous strawman arguments, making claims MMT never made. A display of sheer ignorance and dogma. The authors clearly never read any of the MMT academic papers or literature. This should be a total embarrassment for the Richmond Fed or an indictment of how wedded they are to a deeply ignorant and inapplicable dogma.Starts off with this ridiculous statementDuring the past 25 years, low interest rates and highly...

India PunchlineTaliban get a government! (thanks to the ISI)M. K. Bhadrakumar | retired diplomat with the Indian Foreign ServiceMintPressNewsHow the US Trained the Afghan Mujahideen To Produce War PropagandaDan CohenDances with BearsTHE TWO SATANS OF AFGHANISTAN – AND JIMMY CARTER’S LIPS ARE SEALEDHOW THE NAVALNY NOVICHOK OPERATION WAS PREPARED — NEW EVIDENCE FROM GERMANYFIGHTING THINK TANKS & TROLL FARMS IN THE WAR FOR TELLING THE TRUTH ABOUT RUSSIA – HELLEVIG MEMORIAL LECTUREJohn...

Stocks follow economic conditions. GDP growth has slowed. Expect a correction.

Fiscal flows peaked in March at $984 bln for the month. They've been trending lower. This month, gov't spending could fall below $600 bln. Will it be enough to keep the economy growing and stocks moving higher?