Mike Norman Economics

Adam Booth doesn't like MMT, but I can't see how there will ever be worker controlled, government run state.  For example, when MMT talks about the state, what kind of state is being referred to? As Marx noted in the Communist Manifesto, under capitalism, “the executive of the modern state is nothing but a committee for managing the common affairs of the whole bourgeoisie”. If we want a government that will run the economy in the interests of ordinary people, then we need a workers’...

One of the key questions in the escalating US trade disputes with China and other countries is how much the economy of other countries depends on trade. The answer helps to determine how much leverage the US has in trade disputes. Thus, it's interesting to note that starting about a decade ago, both India and China started reducing their dependence on exports as a source of growth, while doing more to build internal supply chains and relying more on domestic products.... Building national...

Interest rates represent cost of borrowing and income from saving. Both are reduced by cutting rates. Since is this is a decrease in price, it is disinflationary, which is opposite to what central bankers assume. Savers receive less income, which would likely have been spent on goods purchases. Lower of the cost of firm investment potentially results in lower goods prices. On the other hand, in deciding on a monetary policy using interest rate setting, central banks assume that lower...

Longish and detailed backgrounder on FDI in Russian economy, not just US.Checkpoint AsiaUS Is the Single Biggest Foreign Investor in Russia’s Economy Ben Aris, BNE

Reporting about MMT that is actually accurate. Winning! Yahoo FinanceMMT Has a Big Hurdle to Overcome to Succeed in EuropeCarolynn Look, Bloomberg

Frank Olson died in 1953, but, because of clandestine US government experiments, it took decades for his family to get closer to the truth I always wanted to put out the documentary here about Frank Oslon, but it was made for TV and so is a bit dramatic which I thought might come over as a conspiracy theory, but now the Guardian has covered the story I think it is okay to put out.  Frank Oslen was a patriotic Christian Republican who wanted to help his country beat communism. He was...

British planes and British bombs are spearheading the killings. Politicians and the media must raise their voices in opposition This week a report by UN experts warned that Britain could be complicit in war crimes through its arming of the Saudi Arabia-led coalition intervening in Yemen’s civil conflict. The report is the latest in a long line from the UN and the world’s most respected NGOs documenting a consistent pattern of violations. The experts note that leading arms providers...

These journalists must be very brave to disclose this sort of information. Talk about caught red-handed.These documents expose the biggest lie in the US foreign policy – officially fighting terrorism while secretly supporting it. Arms Watch Dilyana Gaytandzhieva - Islamic State weapons in Yemen traced back to US Government: Serbia files (part 1)

lack of available workers

It's a year old, but wow, talk about to the point! [embedded content]