Mike Norman Economics

Unless the euro is abandoned it is looking more and more choosing between totalitarian international capitalism and populist nationalism. Lars P. Syll’s BlogWhy the euro has to be abandoned if Europe is to be savedLars P. Syll | Professor, Malmo University

Gasoline, distillate, jet fuel, crude demand, all down. Signs of a weakening economy? 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

One of the reasons COVID-19 spreads so fast is because it creates Covidiots. These people think COVID-19 no big deal and spread the virus everywhere. It's a smart virus. [embedded content]

Meanwhile, gold standard advocate Judy Shelton's confirmation to the Fed is advancing in the Senate.Zero HedgeDeutsche Bank's Top Credit Strategist Makes Stunning Admission: "I Am A Gold Bug; Fiat Money Is A Passing Fad In The History Of Money"Tyler Durden

 Progress. Progessives seem to be having an impact.The InterceptDemocrats Unveil Draft Foreign Policy Platform With Promises to End "Forever Wars" and "Regime Change" Alex Emmons

I’ve complained before about the habit of the intelligence community of inviting evidence from a very narrow group of experts, occupying what can only be called an extreme position. Well, here we go again.…Applebaum, Browder, Donnelly, Lucas, and Steele. Really??? I’m assuming that most readers know these names, but just in case you don’t, it’s like they’ve pulled in all the most discredited, Russophobic ‘experts’ they can find, and ignored everybody else who has any sort of knowledge of...

Here is my latest podcast. Enjoy.

  Interview with Bill Mitchell.   Yahoo Finance AU How Australia could reduce unemployment to 4% in 12 months Anastasia Santoreneos, Yahoo Finance AU

Important observatin by Geoffrey Hodgson on marginal productivity and system embeddedness. Conventional economists don't do systems well, as Keynes showed in their overlooking the fallacy of composition, a freshman mistake.In the Cambridge Capital Controversy, Piero Sraffa and Joan Robinson called attention to a similar mistake regarding the use of "capital" in neoclassical modeling.The list goes on.MMT economist have also pointed out many such obvious mistakes regarding money & banking...

Should-read.I would add that now the role of  corruption is being addressed acedemically and is found to be a good thing in certain respects. It is endemic to all hierachical systems and can play a positive role in the system, depending on the level of corruption, the types of corruption and the roles these types play in the system. Yuen Yuen Ang examines this in the development of China as a developing country attempting to integrate socialism with capitalism. She holds that Deng wanted to...