Mike Norman Economics
I discuss MMT (Modern Monetary Theory) with Steven Hail from the University of Adelaide, who makes the case for a different way to think about public debt, and the potential benefits of running a (controlled) deficit. [embedded content] A point by point critique of MMT which I found interesting. [embedded content]
Read More »Links — 3 April 2020
Reminiscence of the Future Trump's World.Andrei Martyanov Foreign AffairsMark Blyth: The U.S. Economy Is Uniquely Vulnerable to the Coronavirus Intel TodayCIA Order of Succession 2019 — When Haspel Ripped a Page from Hoover BookLudwig De Braeckeleer Moon of AlabamaThe Science Says #MaskUp - A Look At Two New Virus Studies People's DispatchOne year after launch, EU countries and Iran close first deal under INSTEX payment mechanism The Grayzone Ex UN anti-narcotics chief & mob expert...
Read More »Moonetary Policy gone berserk!
Righteous rant from Mike here:[embedded content] Here are the hockey stick graphs Mike produced from his data: I'll add the one from September 2008 that shows the SAME THING when they caused the GFC back then: Checkmate... AGAIN.... for like the 1005th time.... except for morons.... just take the L....
Read More »Links — 2 April 2020
ValdaiComing Political and Social Troubles from Coronavirus Clifford Kupchan Reminiscence of the FutureOO From OODA In Relation To GIGO.Andrei MartyanovFAIR (information war) You Don’t Need to Believe China About China’s Coronavirus SuccessJim Naureckas Fort Russ NewsUN Warns of Global Food Shortage Caused by Coronavirus Measures Drago Bosnic Russia ObserverRUSSIAN FEDERATION SITREP 2 APRIL 2020Patrick Armstrong Caitlin Johnstone — Rogue JournalistSomeone’s Screwing You, And It Ain’t...
Read More »We Need Class, Race, and Gender Sensitive Policies to Fight the COVID-19 Crisis— Disproving the belief that the pandemic affects us all equally, data collected by New York City Department of Health and Mental Hygiene and a piece published today in the New York Times shows that the novel coronavirus is “hitting low-income neighborhoods the hardest.”[1] In a forthcoming policy brief, we share evidence that this pattern would be the case and provide a solid explanation as to why (Nassif-Pires et al., forthcoming). Moreover, as we argue, the death tolls are also likely to be higher among poor neighborhoods and majority-minority communities. This inequality in health costs is in addition to an unequal distribution of economic costs. In short, poor and minority individuals are disproportionately feeling the impacts of this crisis. A concise version of our evidence is presented here.Luiza Nassif-Pires, Laura de Lima Xavier, Thomas Masterson, Michalis Nikiforos, and Fernando Rios-Avila
Disproving the belief that the pandemic affects us all equally, data collected by New York City Department of Health and Mental Hygiene and a piece published today in the New York Times shows that the novel coronavirus is “hitting low-income neighborhoods the hardest.”[1] In a forthcoming policy brief, we share evidence that this pattern would be the case and provide a solid explanation as to why (Nassif-Pires et al., forthcoming). Moreover, as we argue, the death tolls are also likely to...
Read More »Supply Chains Are Being Hit By Consumption Pattern Changes — Brian Romanchuk
Will Oremus has written an interesting article "What Everyone's Getting Wrong About the Toilet Paper Shortage." The key takeaway is that it is not all about hoarding or even inventory building, it is also a consumption shift. His source from inside the industry gave a guesstimate that 40% of toilet paper is for commercial buildings. With the shutdown in activity, that commercial usage is moving to houses. The problem is straightforward: commercial toilet paper is a completely different...
Read More »Something’s gotta give.
Monetary policy run amok. These charts will blow your mind. Use MMT to invest and trade. Get a 30 day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/
Read More »We Are All MMTers Now — John Furlan
The U.S has potentially entered the Age of Modern Monetary Theory (MMT) with the deficit-busting stimulus bill, which would follow the two previous political/economic paradigm shifts, the Age of FDR/Keynes from 1932 to 1980, and the Age of Reagan/Friedman from 1980 to 2008. It’s just that most Americans haven’t even heard of MMT yet, but that could change very quickly if Sanders starts mentioning it,... If Sanders does so, he may still have the very belated chance to lead the historic...
Read More »How Can We Cooperate When the Pandemic Is Driving Us Apart? — Jill Suttie interviews Paul Atkins
JS: What are those concepts? What do we need for groups to be more kind, helpful, and cooperative? PA: There are eight design principles in our book that help groups to act more cooperatively [for the common good]. Greater Good MagazineHow Can We Cooperate When the Pandemic Is Driving Us Apart? Jill Suttie interviews Paul Atkins, coauthor of the new book Prosocial: Using Evolutionary Science to Build Productive, Equitable, and Collaborative Groups.
Read More »We Must Spend Our Way to Recovery, Says Economist — Angelika Albaladejo
The recently passed $2.1 trillion stimulus proves that Congress has always had the power to fund big spending packages, without worrying about how to offset the costs. That is according to Modern Monetary Theory, an economic school of thought that’s been gaining prominence in recent years, including among rising progressive political stars like Congresswoman Alexandria Ocasio-Cortez. Stephanie Kelton Stephanie Kelton, Modern Monetary Theory’s most prominent advocate, spoke to Capital &...
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