Mike Norman Economics

We really get to see how absurd humanity can be when put in a neoliberal ideological straitjacket when we see serious discussion by serious and educated people about the government paying itself back for losses it makes by loaning itself currency that it issues as a monopolist. They conduct these conversations through the lens of complicated accounting structures that try to obscure what is actually going on and then invite political commentary from others that have no real idea of what is...

Video and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismGlobal Economic History in 2.5 HoursMichael Hudson. President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

Same flawed orthodoxy. Nothing learned.

Numbers.Dances with BearsCASH IS KING OF THE THIEVES IN THE UKRAINE, ACCORDING TO THE IMF, CHIEF ACCOUNTANT TO THE THIEVES’ DENJohn Helmer

One who is confident and certain of where he/she is heading.

Even though we have had a book called The Deficit Myth for years, the myth persists.New WaylandMMT Verify: How We Can Staff the NHS Without Tax RisesNeilW

Another example of hype versus reality.  An alternative payments system based on an alternative currency is just "an aspiration" at this point. The devil, as usual with anything complicated, is in the details. In addition, it won't be a simple matter to get agreement among all the parties. This doesn't mean it will not happen eventually, only that it won't happen in the time frame many are representing and hoping. For now, bilateral trade in the currency of the counterparties is the viable...

PPI too volatile to be a useful indicator of inflation or predictor of CPI.Bond Economics Random PPI ObservationsBrian Romanchuk

Plane got diverted to Albuquerque because we had a sick passenger on board. 

In recalling John Maynard Keynes’s revolutionary theory of interest, reviewing the doctrines Keynes sought to overthrow, and analyzing the structural transformations of the US economy, James K. Galbraith maintains there is no alternative to a policy of low interest rates. However, such a policy cannot be effective, he argues, without a radical restructuring of the US economy as a whole.Policy note. Levy Institute of Bard CollegeIn Defense of Low Interest RatesJames K. Galbraith | Lloyd M....