Mike Norman Economics

I would say this represents the extreme view on the right wrt corona virus wrt China policy response:[embedded content]

Is Pepe Escobar another conspiracy theorist, or is this true? China and countries outside of the Western block have handled Covid-19 very differently, without completely locking down their economies, or for long, although some of their methods are more authoritarian.  Pepe Escobar thinks there is another reason for the complete destruction of the Western economy, which is to bring in a new authoritarian world order, with a new banking system, with a paltry basic income, and with...

Treasury account now over $1T for first time in history...  and this is even with Mike having  withdrawals up by about $450B in the last month...However this is still not quite enough of an increase in issuance to overcome the Fed's addition of reserve assets at the Depositories and banks ability to provide additional credit is remaining a bit impaired... Treasury should increase their balance by another $1T and that would be very helpful...

I thought this was so accurate and concise; it just about sums things up. UK elite society is a big revolving door, between media & govt, military & corporations, corporations & state. UK functions more as a private club than a country. It's an oligarchy. With democratic elements but which are largely a facade. Pretence of "democracy" keeps us in line.

US president says news reports suggesting North Korean leader Kim is 'gravely ill' were based on old documents. Two days old, but I thought this was interesting. Trump isn't in on the propaganda about Kim Jong Un.United States President Donald Trump earlier this week threw more cold water on news reports suggesting North Korean leader Kim Jong Un was gravely ill, calling it "fake" news. Trump: Reports on N Korea's Kim Jong Un illness are 'fake' news

It is a question often asked: what do Ricardo and Marx have to say about interpersonal inequality of income? The answer is, strictly speaking, very little. In writings of neither Ricardo nor Marx does inequality in personal incomes feature at all, and I even think that the concept of what we call “interpersonal inequality” or “size distribution of incomes” does not appear. The reason why this is the case is both simple and revealing. Ricardo and Marx were concerned with functional (between...

Both parties in the US are out to lunch.EconospeakWe Need a Shadow GovernmentPeter Dorman | Professor of Political Economy, The Evergreen State College

I've been in debate with an ex CEO of a bank. He says banks lend out deposits and called me a conspiracy theorist.Anyway, two interesting articles Banks do not create money out of thin air, by Pontus Rendahl, Lukas B. Freund In recent years, some have claimed that banks create money ‘ex nihilo’. This column explains that banks do not create money out of thin air. From an economic viewpoint, commercial banks create private money by transforming an illiquid asset (the borrower’s future ability...

The Kindle edition of Recessions: Volume I has been published on Amazon (affiliate link). This book is longer than my previous ones (59,000 words). Bond Economics "Recessions: Volume I" Kindle Edition PublishedBrian Romanchuk

The UK has entered its worst-case scenario as the coronavirus death toll is now rising beyond the highest figure predicted by government scientists The UK has now entered its ‘worst-case scenario’