Mike Norman Economics

More bearish news.... oh... wait a minute...U.S. home construction surged in August to the fastest pace since mid-2007 https://t.co/s380TLPrLB— Bloomberg (@business) September 18, 2019

FT Open day today where you can read lots of articles for free.https://www.ft.com/the-big-read

Economies are not delivering for most citizens because of weak competition, feeble productivity growth and tax loopholes I haven't been able to read a FT article for two weeks, but today the paywall let me in. FT must allow people to read an article for free from time to time. This is an excellent article describing what is wrong with present capitalist system, and it goes over a lot of different areas.Martin Wolff describes the feedback loop where certain companies can attract the best...

Many economists don't understand how the banking system works, says Frances Coppola, and  go on to write inaccurate books or give ill advice to governments. Here, in this article, she severely criticises a prominent economist for writing such a misinformed book.One thing MMTers are pretty clued up on is how banking works, and yet many economists - who don't understand how banks work at all - criticise MMT.The author, a young economist with a first-class degree from Oxford, the famous English...

Should be "neoliberalism" instead of "liberalism."New StatesmanWhy is “millennial socialism” on the rise? Because liberalism is failing Lea Ypi

Complete scam...Saudi Arabia says oil output back to normal soon; crude prices plunge https://t.co/NT5SY0WBk8— Savannah Now (@SavannahNow) September 18, 2019

Still lingering effects of  "debt ceiling!" now causing a sudden collapse in Reserve Assets as Treasury seeks to quickly increase the General Account to $350b...Treasury could have done a better job in August post the suspension of the "debt ceiling!" ... by increasing net issuance sooner and more evenly on a weekly basis... instead these morons have delivered EVEN MORE chaos... and have had to do a special repo operation for some institutions that apparently have become deficient in...

It's all about the proper psychology.

I will have little time to publish blog posts in the next two weeks. But as I travel around I have to sit in trains, planes and cars and that is when I tend to write when I am away from my desk(s). Today, I am in Maastricht – after travelling by train from Paris. I have two events – one on framing and language and the other on Reclaiming the State and Modern Monetary Theory (MMT) basics. Then I am heading to Berlin for a talk at PIMCO and on Friday I am presenting an MMT workshop at the...

Governments around the world don’t need to raise taxes in order to transform their economies and avert climate disaste Ann Pettifor hasn't come around to the idea of MMT yet, but it's good news the New Green Deal could pay for itself.  So where should the money come from? There are fundamentally only two sources of financing. The first is borrowing (credit). This is achieved by applying for a loan, or issuing a bond. The second is existing savings. To raise the money for a green deal,...