Mike Norman Economics

The ECB is aware of its role and is ready to play it: “The Governing Council will do everything necessary within its mandate.”This is the end of financial markets’ power over national governments. This is a very positive development that makes a repeat of the austerity policy after the financial crisis at least less likely. The other problem that countries see is the Commission’s deficit limits. However, these have been suspended for the time being. It is up to politicians to adjust these...

Out of paradigm with MMT and confused, even though superficially correct. Hopefully his thinking no longer reflects that the Reserve Bank of Australia.Australian Business ReviewFocus should be on strong recovery, not budget surplus Stephen Grenville, non-resident fellow at the Lowy Institute and former deputy governor at the Reserve Bank of Australia

MMT, sort of.Washington MonthlyRepublicans Want to Sacrifice Your Social Security But Not Their Tax Cuts David Atkins

On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo.... Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismDollar Recycling and Military Encirclement Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street...

Going mano a mano.Zero HedgeIndian And Chinese Troops Clash In Fistfight At Disputed BorderTyler Durden

Some myths are being propagated: that Putin is hiding, sloughing off responsibility to others, and providing little to no support to the population or sectors thereof during the crisis. The reality is quite different and more complex, but the crisis bodes ill for both Putin, Russia, and the world. It remains unclear who will remain standing once the multiple pandemic, oil, and economic crises have had their say.... Fairly detained look at Russia's political and economic response. Russian...

Warren Mosler sums it up pithily: Modern money as state-issued currency is a tax credit. Richard Murphy unpacks this a bit.Tax Research UKWhat is money? An explanation Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy ForumAlso from Richard Murphy I would say that MMT is well-defined by the MMT economists. Most...

NumbersCalculated RiskRecession Measures and NBERBill McBride alsoAngry BearElementary Statistics Review — Hypothesis TestingRobert Waldmann

Now that the US is opening up for business, some useful information from a biology prof whose speciality is immunology.Stay safe during the transition.The Risks - Know Them - Avoid Them Erin Bromage | Associate Professor of Biology at the University of Massachusetts Dartmouth.

Look like same thing as Reinhart/Rogoff Excel error....Darwin makes an appearance with these people ofc right on cue: The Imperial team’s response is that it doesn’t matter: they are “aware of some small non-determinisms”, but “this has historically been considered acceptable because of the general stochastic nature of the model”. Note the phrasing here: Imperial know their code has such bugs, but act as if it’s some inherent randomness of the universe, rather than a result of amateur...