Mike Norman Economics

Shlomo Avineri’s recent biography demolishes the charge that Karl Marx was a self-hating anti-Semite. And by dragging Marx, kicking and screaming, back into the Rhinish Jewish community that shaped him, Avineri yields new insights pertinent to today’s global challenges....Yanis VaroufakisThe Eternal Marx: Reviewing Shlomo Avineri’s KARL MARX: PHILOSOPHY & RELIGION

I think the general population are starting to get the message that my profession and the political class that uses it as an authority has been leading them down the garden path for decades now to cover up policies that have deliberately undermined our socio-economic prospects and allows a massive transfer of national income to the top-end-of-town. I am also watching, on a daily basis, the almost ludicrous way the mainstream economists and the politicians weave and duck as they change their...

hahahaha!!!!!Up @theprospect: I was told Janet Yellen was driving the deficit conversation inside the White House. Then she went on Meet the Press and confirmed it.https://t.co/V9V1DEVAsH— David Dayen (@ddayen) May 3, 2021

Sovereign currency issuers don't need to pay interest on their currency. And left unchecked via monetary operations and sales of gov't securities, rates would gravitate to zero. 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

Pretty incredible the tunnel vision view focused on the Fed by financial professionals when it's all about fiscal. 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

Celebrity culture and cult of the personality.No, Ronald Reagan doesn't count. He had experience as the governor of California, the most populous state in the US.Same with past presidents that were generals. They all had top management experience in a large federal government organization, militaries being government organizations, after all.Sputnik InternationalVIPs in the White House: Trump’s Success May Inspire More Celebrities to Run For Office, Report Says

Good article.The American ConservativeModern Monetary Theory For ConservativesJonathan CulbreathSee alsoAbout what one would expect.Culbreath, like most “mainstream” economists, misidentifies inflation as a "rise in the price levels." But rising price levels are an effect, not a cause, of inflation. Inflation is the very act of money creation by a central bank.Same old, same old. End the Fed. Contrary to proponents of MMT, inflation’s pernicious effects are not limited to times of “full...

Wednesday’s march in memory of the 14th SS Division ‘Galicia’ in downtown Kiev demonstrated not so much that Ukraine is a fascist state as that its leaders are guilty of turning a blind eye to the far right and of exploiting it.The problem is that the Right Sector (Pravi Sektor), a Ukrainian ultra-right (neo-Nazi) political party and armed militia, is a dominant force in Ukrainian politics, operating on the threat of violence and use of violence. This is not widely acknowledged in the West....

 Wealth inequality, real and financial, dwarfs income inequality.But as I have argued before, real wealth concentration is about the ownership of productive capital, the means of production and finance. It’s big capital (finance and business) that controls the investment, employment and financial decisions of the world. A dominant core of 147 firms through interlocking stakes in others together control 40% of the wealth in the global network according to the Swiss Institute of Technology. A...

Summary of the current debate. Robert Vienneau mentions Bill Mitchell's recent blog posts on CCC.Thoughts On Economics Brad DeLong, Noah Smith, And Others On The Cambridge Capital ControversyRobert Vienneau