Mike Norman Economics

Russia confirms Brazil's preference for using national currencies instead of USD rather than launching a new currency with all the complications and uncertainties that such a project involves. It's over for now.RT — Question More (Russian state-sponsored media)Kremlin pours cold water on BRICS single currency speculation

Quotes MMT economists including Mike Norman. Short and on point.ForbesShould We Downgrade Fitch Or The USA? - ForbesJohn T. Harvey | Professor of Economics, Texas Christian University

Market will be under pressure until November.

It’s Wednesday and there are a few topics that warrant some comment. But at the top of the topics were headlines this morning shouting out that the US treasury bonds had been downgraded by one of those self-serving credit rating agencies, as if it was an event worthy of some import. The journalists obviously do not understand anything if they think that decision was important. The ratings downgrade on US government debt is meaningless and the rating agency involved just wants to boost its...

Old podcast from Money on the Left and a new transcript.MR OnlineJob Guarantee as Historical Struggle with David Stein (NEW TRANSCRIPT!)Maxximilian Seijo, Scott Ferguson, William Saas

She should just ignore or laugh at the Fitch rating downgrade.

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lol Biden’s consigliere didn’t see this one coming… The United States faces serious long-run fiscal challenges. But the decision of a credit rating agency today, as the economy looks stronger than expected, to downgrade the United States is bizarre and inept.— Lawrence H. Summers (@LHSummers) August 1, 2023 GOP is going to be all over this Biden downgrade… 😂😂😂Biden Treasury is having to increase the Biden UST issuance by $1T in order to pay the additional $1T Biden interest on the USTs due...

Another dumb, ignorant move by 1 of the 3 rating agencies.

I have been running into the ongoing debates on nominal GDP targeting, and whether it is superior to inflation targeting. To look at this debate, I need to put my “conventional economist” hat on, as if one accepts the heterodox view that interest rate policy is ineffective, the entire debate is pointless (neither policy “works”). As will become apparent, I think the neoclassical models behind the debate are dubious. But if we accept that interest rates at least sort-of work the way that they...