Mike Norman Economics

 I don't put up criticism of MMT unless it is informed and Otmar Issing at least knows the basics. His response is predictable since he is a well-known financial conservative even in Germany, which is the the contemporary bastion of the Treasury view. He still thinks that monetary policy administered by an independent central bank works, in spite of the facts.His argument against MMT? Currency debasement.Project SyndicateThe MMT MythOtmar Issing, President of the Center for Financial Studies...

Neil Howe, co-author of The Fourth Turning with the late William Strauss, unpacks the demographics of generational change.MarketWatchU.S. faces a potential ‘secession crisis’ at home and ‘open conflict’ with China in the coming decade, says author who predicted 2020 unrestJonathan Burton interviews Neil Howe

 3% (Merril Lynch) to 4.5% (Goldman). All that government spending having an effect? But without a stimulus bill, many are hurting and growth could have been both better and more even.Calculated RiskEarly Q4 GDP ForecastsBill McBride

Western neoliberalism on the rocks?The Vineyard of the SakerThe Russia-China votePepe EscobarSee alsoThe dragon spreads its wings — while the eagle and bear watch, each from a different angle.econintersectChina's New 15-Year Vision: 'Dual Circulation' To Sustainable GrowthDan Steinbock, Difference Group

Backgrounder on arctic icebreakers.Dances with BearsRUSSIA CAN, THE UNITED STATES CAN’T CUT THE ICEAlexei Bezborodov, editor in chief of Infranews.ru, the bible of the Russian maritime industry

Diagnosis: delusional (The European leadership, that is.)Strategic Culture FoundationWhy Is Europe Courting Revolution?Alastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy

 I keep forgetting to get one, but hopefully, I will remember by the end of the week.MONDAY, Nov. 2, 2020 (HealthDay News) -- The coronavirus and the flu are two entirely different viruses. But a new study suggests those who get a flu vaccine face a considerably lower risk for being hospitalized if and when they get COVID-19.And the flu vaccine also appears to significantly reduce a COVID-19 patient's risk for ending up in an intensive care unit (ICU), researchers sayFlu Shot May Shield You...

I have just posted a draft of a paper that will appear in a forthcoming volume, Edward Elgar Handbook of Blockchain and Cryptocurrencies. The paper draws on a number of my earlier posts on fiat currencies, bitcoins and cryptocurrencies, such as this, this, this and this.Here is the abstract of my paper.Uneasy MoneyMy Paper “Fiat Money, Cryptocurrencies and the Pure Theory of Money” is now available on SSRNDavid Glasner | Economist at the Federal Trade Commission

The two bills rushed through India’s parliament on September 20 were objectionable in every conceivable sense. The very fact that they were being rammed through the Rajya Sabha, without being put to vote despite demands for a division, was grossly anti-democratic. The fact that the Center made unilateral and fundamental changes in agricultural marketing arrangements that fall within the State List of the Seventh Schedule of the Constitution was a blow against federalism. To resurrect the...

Victoria went the so-called ‘double doughnut’ again today with zero new infections and zero deaths – the fourth consecutive day. It now has the lowest number of people sick with the virus (known) since the start of the pandemic in Australia in February. Only 38 active cases remain in Victoria after its 12 week lockdown. There is no community transmission reported now in Victoria and the other day Australia recorded zero (community transmitted) cases overall. So things are less tense than...