Mike Norman Economics

In the second of a two-part series, Maximilian Kärnfelt argues that China’s digital currency will further its goal of internationalizing the yuan. But there won’t be a snowball effect. Read part I of our series here.Steering a course of gradual opening up to improve stability while progressing steadily. China has long used the "helmsman" analogy of governance. Mao was called the "Great Helmsman," and Deng "the little helmsman." MericsThe digital Yuan will only lend a minor boost to...

From the news articles about Cahaly’s polling, it seems that a key aspect of their method is to measure intensity of preferences, and it seems that Republicans won the voter turnout battle this yea....This was predictable for two reasons. First, Donald Trump is a far more savvy politician and better persuader than his opposition. Secondly, the Democrats are fighting an internal civil war  between tthe establishment and progressive wings. (The GOP already fought their civil war, and DJT and...

The question of how it can be paid for doesn’t arise if we understand how the government spends. It would be paid for in the same way the government always pays for things; by creating the money out of nowhere. A simple transfer with a few computer keystrokes authorised by the Treasury and carried out by the Central Bank. We need to knock on the head the idea that a portion of our tax is being collected somewhere in a savings pot to be divvied out at retirement or indeed that taxes serve to...

The Powell memo.Bill Mitchell – billy blogAn international, worldwide far-right attack on the universitiesBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

However, and this goes back to BofA's key warning, "the challenge for investors is that with a divided Congress and appetites for budget austerity rising in both parties, 2021 could also become a record year via the fastest and largest fiscal contraction in history" according to Woodard who says that the "best historical comparison might be 2010-2015, which also featured a Democratic president, divided Congress, and an iceberg of austerity keeping the economy in a freeze." The next chart...

A liberal democracy depends on equal rights and equal opportunity, not equal outcomes. Without equal rights being enforced and equal opportunity guaranteed, outcomes are likely to be biased by asymmetries, especially power.I would say that the title should read "narrow" rather than "close." The JG is not a panacea. But in a capitalist monetary production economy it is a sine qua non for addressing asymmetry affecting markets. However, comprehensive change requires social, political and...

 El Paso public health officials announced 1,512 new COVID-19 cases including 151 additional delayed cases.El Paso stands at 72,238 cases. Fifteen additional deaths were reported, raising the death toll to 756.More than 1,500 new COVID-19 cases reported; 15 additional deathsDr Eric Feigl-Ding https://twitter.com/DrEricDing/status/1327836536424042498?s=19?NEW: Chilling video of El Paso jail inmates hired to move bodies of #COVID19 deceased patients into mobile overflow morgues. Inmates wear...

Under rated rock and roll lament.... fantastic Christendumb troll... [embedded content] Hey you Sometimes I think this woman is kinda hot Sometimes I think this woman is sometimes not Puts me down, fools me around What's she doing to me? Out for satisfaction, any piece of action That ain't the way it should be She needs love, smells out a man She's gotta see Pours my beer, licks my ear Brings out the devil in me Hell ain't a bad place to be Spends my money, drinks my booze, stays out...

The contingent election. Quirks of the US Constitution.Zero HedgeDonald Trump's Likeliest Path To Staying In OfficePaul du Quenoy via TheCritic.co.uk

Download paper.The Gower Initiative for Modern Monetary Studies Weimar Republic Hyperinflation through a Modern Monetary Theory LensPhil Armstrong and Warren Mosler