Mike Norman Economics

Impressive. Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismMacau* Lectures on Super ImperialismMichael 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 Macau * Macao Special Administrative Region of the People's Republic of China

Spoiler alert: it won't hurt the economy or kill the bullish outlook for equities. 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

 Traditionalism clashes with liberalism. The author is addressing Slavs, but it could be any traditionalist group, including in the liberal West. I am posting this since it illustrates what I have saying for some time about this conflict between traditionalism and liberalism at this moment in the historical dialectic. It is unlikely to be overcome easily, peacefully or in a short period.Let us Slavs create communitarian bonds. Individualism does not belong to us, but rather, to the decadent...

 Americans should find the hawkish push toward a new Cold War with China deeply troubling.Note too that China is not the Soviet Union. “Xi Jinping Thought” does not represent an exportable ideology. Unlike the Soviet leaders who railed against capitalism, China’s leaders embrace it, demonstrating a remarkable aptitude for harnessing the market to create wealth. The Soviet economy produced next to nothing that American consumers were interested in buying. Today, China produces almost...

Maybe "capitalism" isn't in decline, but rather neoliberal capitalism, where institutions are used to funnel gains up and socialize losses? As an economic theory, capitalism assumes "perfect competition," which in turn assumes "perfect markets," that is, markets are symmetrical eliminating asymmetrical market power. That phenomenon is a unicorn given income and wealth distribution as well as endowments that undermine equal opportunity.Could an equitable and functional version be implemented?...

I ran across some silly commentary about inflation that did not take into account base effects. I just want to explain how to avoid this problem using elementary results from systems theory. The short version is to use a first order low pass filter, which economists vaguely label an "exponential moving average" (or something like that). Since it was used to generate "adaptive expectations," I strangely labelled it "adaptive average" in the above figure.Bond EconomicsA Rant About Base...

Recommends Stephanie Kelton's The Deficit Myth.FinWeekIs rising government debt truly bad?Simon Brown

 Captions my own. Sand under a microscope. It makes me want to visit the seaside.My brother and me at Hastings, Kent UK. Taken a long time ago. I'm the older one. Stunning! Top view of a Mandarin Duck.What you got?What’s for dinner, Mum? The Blue Eye on Bude Castle, Budapest, Hungary Bolt City Silicon Valley 

 The past has a future we never expect. Exterminate All the Brutes is a four-part HBO documentary series from filmmaker Raoul Peck that challenges how history is being written. [embedded content]

The banner on the home page of the German citizens’ group – Bündnis Bürgerwille e.V. – says “Recht gilt auch in der EU” (Law also applies in the EU) and the sub-header “EU – Verträge müssen eingehalten werden” (EU treaties must be complied with). I have sympathy for that sentiment but not the politics of the so-called ‘Citizens’ Will Alliance’, which recently sought to block German government approval of the much vaunted, much delayed, fairly small recovery plan. The mainstay of the EU is...