Mike Norman Economics

It's why you don't have any.

European Central Bank President Mario Draghi said the Governing Council should be open to ideas such as Modern Monetary Theory, while noting they’re closer to fiscal policy and should be directed by governments. “These are objectively pretty new ideas,” Draghi said. “They have not been discussed by the Governing Council. We should look at them, but they have not been tested.” Bloomberg  Fergal O'brien - Draghi Says ECB Should Examine New Ideas Like MMT

An article in the South China Post had an headline saying, The US or Britain might save the Hong Kong protestors, or pigs may fly. I saw a video footage on Twitter where scores of protestors attacked an old man at a subway with clubs and lumps of wood. One protestor got right in front of him and pounded him left and right in the face for a good 30 seconds. It was finished off by a young woman beating him over the head repeatedly with a batton before she run off. He survived in one piece,...

I had 7 bookcases in my house at one point. I worked out that if each book was worth on average £10, then 10 books was worth £100. This was 30 years ago. 10 books doesn't take a lot of space, so, no wonder I never had any money.The bird spotters get the twitches when they see a rare bird, and I used to get something similar when I spotted a great new book.Some people can only get excited when are doing some sort of daredevil act, like hanging off the side of a mountain, which maybe similar...

Iranians don't hate Americans, and if you believe that, then you have been taken in by the propaganda, says Peter Santenello. They don't like Pompeo very much, though. [embedded content]

The US thinks it's exceptional because of its 'democracy', its 'freedom loving people', its 'capitalism', etc, but 'exceptional' turns out to be more about white supremacy.Part of title of the book is American Innocence, where Washington believes it has never done anything wrong. War after war, but the US is the 'good guy' . It runs an industrial killing machine, backs mercenary jihasist terrorists all over the World, but it remains 'exceptionally good', while all others are 'exceptionally...

I am taking a few days off from the Internet while away visiting family and friends. See you when I get back.

PoliticoTrump wants ‘diplomatic solution’ with Iran, Pompeo says Eleanor Mueller The HillMnuchin said Iran tensions 'worse' because plan 'is working' Rebecca Klar YahooPompeo says Iranians are 'bloodthirsty,' 'looking for war.' Zarif says US is 'posturing' Deirdre Shesgreen, USA TODAY The HillMattis says Iran regime is 'trying to craft a foreign policy that pushes others around' Justine ColemanSic Semper Tyrannis "If you hit them, they will behave ..." - the neocons' song. Col. W....

And so, if the youth care more for the environment than they do about money, and if ageing parents care about their money more than they do about their children, then generational looms. However, one possible way to defer this clash involves the oldest trick in the book. And that is more money for everyone; for the GND, for Medicare, Medicaid, Soc Sec, tax cuts. Enter MMT.... Zero HedgeHedge Fund CIO: "Generational Conflict Will Be The Top Theme Of The Coming Decades: Enter MMT"Tyler Durden

The Labour leader, Jeremy Corbyn, has said it could be more beneficial for the UK to be outside of the EU under the right deal. Speaking on BBC One's The Andrew Marr Show during the Labour conference in Brighton, Corbyn underlined Labour's 'credible option', referred to as 'the five pillars', which covers the customs union, the trade relationship, protection of consumer, environmental and workers’ rights and the Good Friday agreement. The Guardian UK could be better off outside EU,...