Mike Norman Economics

Spross quoted former bank CEO Richard Vague, chair of The Governor’s Woods Foundation, who explained, “China has committed itself to a high level of growth. And growth, very simply, is contingent on financing.” Beijing will “come in and fix the profitability, fix the capital, fix the bad debt, of the state-owned banks … by any number of means that you and I would not see happen in the United States.”... This did happen to a degree in the US, when the Fed stepped up to save the financial...

In thirteen years of hostile decisions, the Roberts Supreme Court has done all it can to legalize corruption. With the Bridgegate case, it gets a chance to wreak even more havoc and possibly end the use of the term “corruption” as a useful legal concept.... That the purpose, wasn't it? If this is not judicial activism, what is? This approach to corruption sets the Roberts Supreme Court apart from other Supreme Courts. For over a century, previous Supreme Courts upheld campaign finance laws...

David Salsburg quote.Lars P. Syll’s BlogOn the applicability of statistics in social sciences Lars P. Syll | Professor, Malmo University

In mapping out what I think are the essential aspects of a social transformation that we might call a Green New Deal, eliminating precarious work is one of the priorities – it is intrinsic to creating a more equitable society in harmony with nature. This aspect also calls in question the role of a Job Guarantee. Note the capitals – there is only one Job Guarantee but many jobs guarantees. I will explain today why the Job Guarantee will be an intrinsic part of the Green New Deal but by far a...

For the first time since March 2008, PBOC fixed the yuan weaker than 7 per USD.... Zero Hedge China Fixes Yuan Weaker Than 7 For First Time In Over 11 Years Tyler DurdenSee also at ZHRay Dalio Tells Investors 'Bet On China' As The Next Global Empire

76% support the single currency... hate to break the news to you but its not going away any time soon... deal with it... Support for the euro hit another record high. 76% of citizens in the eurozone are in favour of a European economic and monetary union with one single currency – the euro – the latest Eurobarometer survey shows. Full results here https://t.co/huG2Al3Zm3 pic.twitter.com/y3YrNMHYD1— European Central Bank (@ecb) August 8, 2019

Prof. Steve Hawke is a goldbug but what he says about the Trump administration is interesting - that they are all businessmen and haven't got a clue about international economics.He also says that the U.S. deficit is not really a big problem. In the last part he talks about the global water shortage problem. Many countries have greatly increasing populations putting stress on the water supply. He cites London as a city with a huge problem. London has had a massive influx of immigrants over...

Joe Weisenthal has been causing a stir on Twitter discussing "yield bugs": people who have an ideological belief that bond yields out to be positive. This Bloomberg opinion piece discusses this, as well as some other comments on negative yields coming to the United States. I have not followed that debate too closely, as I initially assumed that there was not a whole lot of people who believed that bond yields ought to be positive. This is because bond yields are essentially determined by...

Central bank monetary policy apocalypse.

In this installment, Equitable Growth Executive Director Heather Boushey talks with Gabriel Zucman, professor in the Economics Department at the University of California, Berkeley. His research focuses on global wealth, inequality, and tax havens. Zucman also is co-director of the World Inequality Database, a database aiming at the provision of access to extensive data series on the world distribution of income and wealth. In an in-depth conversation about his research and its implications...