Mike Norman Economics

Remember: these moron unqualified libertarian people are capable of anything.Like yesterday's abrupt change in reserve asset policy ending the planned $35b per month reduction in system reserve assets 2 months earlier than previously indicated.Bank system now has to adjust (bearish) to arrange for inclusion of the additional $70b of these non-risk assets they will now have to possess.Bank system currently only adding about $70b per month of total bank credit so this now additional $70b of...

There is an enormous amount of propaganda in the Western media right now. The Uyghurs keep turning up, and Russia is in the headlights again, but the Brazil / Glenn Greenwald story is just being covered as straight news with no outrage, unlike Venezuela. [embedded content]

The U.S. has long held an external balance sheet that is comprised of foreign equity assets, mainly in the form of direct investment (DI), and liabilities held abroad primarily in the form of debt, including U.S. Treasury securities. This composition is known “long equity, short debt.” Pierre-Olivier Gourinchas of UC-Berkeley and Hélène Rey of the London Business School claim that this allocation has allowed the U.S. to serve as the “world’s venture capitalist,” issuing short-term debt in...

At present, the Australian Parliament is debating whether the unemployment benefit (called Newstart) should be increased. The conservative government is refusing to budge claiming it prefers to create jobs and get people of benefits – arguing that it will generate 1.25 million jobs over the next 5 years. The Opposition Labor Party are attacking them for being mean but are just rehearsing the massive hypocrisy that has defined that party since it became a voice for the ‘neoliberal lite’...

An excellent documentary! [embedded content]

EvonomicsOptimizing for Human Well-Being Douglas Rushkoff | Professor of Media Theory and Digital Economics at CUNY Queens College, and host of the Team Human podcast and author of Team Human Oxfam Blogs — From Poverty to Power‘This Shit is Killing Me’: Dalit rights and Mumbai’s sewers Monica Moses PoliticoJudge dismisses DNC suit against Trump campaign, Russia over email hack Josh Gernstein Yahoo FinanceBond Bull Run Shows Modern Monetary Theory May Be New NormalJohn Ainger, Bloomberg...

Sets in motion many things.

Another really good one from Renegade.inc. It's like The Quickening, where they said people were about to realise that the West was a massive con. We are run by psychopaths, says Charlie Robinson.I never thought I would see anything like RussiaGate, where night after night all the politicians and the journalists within the MSM would be lying on our screens, and now they are doing the same thing to the British Labour Party saying it has a serious antisemitic problem.The Guardian had an...

What cutting edge economic anthropology and economic history shows is that prior to the dawn of the capitalist era it would have been nonsensical to refer to such a thing as an “economy” and no one ever did. The reason for this, quite simply, is that while economic reproduction is an existential facet of all existing human societies it had always been intermeshed with other social practices–culture, religion, ideology, politics, and so on–and indistinguishable from them. Only under...

Lars quotes Knut Wicksell and William ("Bill") Vickery.Lars P. Syll’s BlogMMT — the key insightsLars P. Syll | Professor, Malmo University