Mike Norman Economics

US government spending is high historically but questionably targeted.  Uncertainty reigns in the private sector and firm spending is not taking up slack, as a result of the stubborn pandemic.Bill Mitchell – billy blog[Australian] Federal government cutting spending as payroll data shows employment still in declineBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

A short review of Lee Vinsel and Andrew Russell’s The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most. Mes a case that US society and its elite are so absorbed in the future, past and present are being ignored — at the peril of the society, e.g., failing to repair or replace depreciating capital. Some of this pertains to infrastructure that is the government's responsibility, but much of it affects industry, too. The argument is that the US...

New signs from tax flows that the economy may be sputtering. ECB meeting tomorrow. Zombies will probably sell the euro. You buy. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286

New signs from tax flows that the economy may be sputtering. ECB meeting tomorrow. Zombies will probably sell the euro. You buy. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286

Claus von Clausewitz quote from On War that is relevant to modeling in general. This is true of the entire scientific (positivist) enterprise that assumes naturalism as the basis of truth. This is exacerbated by a further assumption that naturalism is not only a methodological assumption but the ontological and epistemological statement about reality. These assumptions oversimplify many design problems and as a result bias design solutions.  Science works quite well and consistently...

Interesting data, in spite of the author assuming a neoliberal framework for analysis.ValdaiChina’s Way Out in an Intensifying Power Competition Game Chen Chenchen

History. In his 1865 essay How to Outdo England Without Fighting Her, Lincoln’s economic advisor Henry C Carey stated: “The ‘greenback’ has fallen on the country as the dew falls, bringing with it good to all and doing injury to none.” The DuranHow to Save a Dying Republic: Lincoln and the GreenbacksMatthew Ehret

Wednesday brings music and not much blog posting activity. But I have been following the debate in the UK and Europe about the likelihood of some sort trade deal or not with some interest and amusement. There are several facets to the discussion: (a) the on-going hypocrisy of the European Union elites; (b) the necessity for major state intervention in Britain (and everywhere) and the possibility that the Tories will abandon Margaret Thatcher’s EU single market legacy is another sign that...

Same knee-jerk dollar buying that we see from time to time. The dollar is going down. You have to use rallies to sell. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286