Mike Norman Economics

I ran across a comment to the effect that Modern Monetary Theory (MMT) somehow is missing a theory of interest rates.... Bond EconomicsUpdate: The World's Simplest Bond ModelBrian Romanchuk

Two economists calculate that U.S. farms lost $14 billion because of retaliatory tariffs, while South American countries boosted their exports by $13 billion to fill the gap. The trade war may not have turned out to be "good and easy to win" for the United States, but some other countries have benefited from how higher tariffs have warped the global flow of agricultural goods. Argentina, Brazil, and Chile were the "primary beneficiaries of the retaliatory tariff increases," Carter and...

Only kidding, I don't think I would have ever been up for this. I can only think these guys are from an elite crack military unit. [embedded content]

In a keynote address to the Alltech One virtual global conference last night Australian-time, Mr McWilliams, an internationally renowned speaker and one of the world’s most influential economists, drew from the work of his countryman WB Yeats to illustrate how previous periods of crisis have historically led to great renewal.…“When I worked in the Central Bank in Ireland, if you’d told me that the Federal Reserve was going to buy government bonds directly, was then going to buy corporate...

MMTed Q&AThe questions are rolling in – thanks – and we will begin our program next Wednesday (May 27, 2020). As part of the on-going development of our MMTed project, we are introducing – MMTed Q&A – which will be a weekly live program screening on Wednesday nights starting at 20:00 Australian EST. This will be at: 10:00 Dakar11:00 London12:00 Paris13:00 Helsinki19:00 Tokyo, Kyoto and Dili03:00 San Francisco06:00 New York The program will run for 30 minutes each week and the format...

Its Wednesday, so a collection of snippets, ads and music. One of the things I am working on as part of my book venture with Thomas Fazi, our followup to – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, September 2017) – is the way the Left and Right are responding to the current crisis. It is clear to me that the Right are seeing it as a way to really entrench new beach head gains on their long term agenda to divert public spending away...

Trump locking in the Evangelical vote (BIG!): A really great woman, and what a job she is doing! https://t.co/MSCOqbAH5Q — Donald J. Trump (@realDonaldTrump) May 20, 2020 DTs:

LOL well not anymore he doesn't.. or not at least until March 2021...Derby’s Take: Powell Sees Little Reason to Fret Over Fed Balance-Sheet Growth https://t.co/KYP2drXpbg— WSJ Central Banks (@WSJCentralBanks) May 20, 2020

As Carmen Parejo Rendón observes “what the US does not realize is that it keeps creating more enemies for itself and with this it is reinforcing multilateralism.” Internationalist 360ºUS Threatens to Prevent Iranian-Venezuelan Mutual Assistance William Camacaro, Frederick B. Mills, Danny Shaw

This is an important note and suggests the economy is dependent on the course of the pandemic. Expectations. Calculated RiskMerrill: "Most of the slowdown occurred due to voluntary social distancing rather than lockdown policies"Bill McBride Related at CRMay 19 Update: US COVID-19 Test Results