Mike Norman Economics

The MMTer is Warren Mosler in conversation with Eric Peters who reports it. I perused the comments. Out of dozens, only one person gets it. The rest are moronic. Zero HedgeAn MMTer Explains MMT In 320 WordsEric Peters, CIO of One River Asset Management

It's becoming clear that Earth, its atmosphere and surrounding space constitute a delicately balanced ecosystem that requires being viewed and treated as a common pool resource. Elinor Ostrom’s (1990; 2009) research focuses on common pool resources (CPR) and the dilemmas they have posed for their users and society. A CPR is a resource such as a fishing ground, an irrigation system, ground water, pasture land for grazing animals, etc. that jointly benefits a group of people (the users) but...

Informative post on what really went down in the BBC reporting "incident," along with speculation on why it happened. He is willing to cut some space. Worth a read.Moon of AlabamaHow The News About Italian Far-Right Fighters In Ukraine Got Confused

I've been debating with some Tommy Robinson supporters on YouTube recently, but they have gone quite now. If they come back I will put this out.DECLASSIFIED. The files on Uganda show total UK support for the Idi Amin coup in 1971 and consolidation of the regime as it began repression and murder. UK armed/trained the regime and welcomed Amin to London to meet Queen. He went on to kill up to 500k. http://markcurtis.info/2018/01/20/uganda-declassified/

'Corporate capture': HSBC, RBS, Barclays, Morgan Stanley and banking lobby group UK Finance have been given places on board which sets priorities for combating economic crime The foxes guarding the hens. Government plans to combat money laundering, fraud and other economic crimes have come under fire for allowing banks that have previously been implicated in wrongdoing to play a key role in writing the new rules. The National Crime Agency estimates that hundreds of billions of pounds of...

Debt ceiling deal may result in much higher spending.

If the model of the market-compliant democracy has outlived its usefulness, it is time to look for an alternative political vision. It must convince people that politicians can solve the problems of the 21st century. This kind of alternative blueprint for society needs a theoretical basis. Modern Monetary Theory (MMT) can make an important contribution. Understanding MMT enables us to envisage progressive politics without getting tangled up in misguided debates about whether we can ‘afford’...

China is already there. Why. Government permissiveness that has not been forthcoming in the West since it would greatly reduce banks' revenue from retail transactions. But in China the banking system is largely government owned, so it is not the same issue.The DiplomatChina’s Digital Payment Revolution: Lessons for Libra Dongyao Nie, news researcher at Al Jazeera English based in Washington DC

SOFR versus LIBOR. (Remember the scandal about manipulating LIBOR? SOFR addresses this.)BISJohn C Williams: 901 daysJohn C Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, at the Securities Industry and Financial Markets Association (SIFMA), New York City, 15 July 2019.

I am delighted to be in Helsinki at this important conference on monetary policy and the future of Europe's monetary union. Today I would like to discuss the broad review of the Federal Reserve's monetary policy framework that my fellow policymakers and I are undertaking this year. We are examining the policy strategy, tools, and communication practices that we use to pursue our dual-mandate goals of maximum employment and price stability. In my remarks, I will describe the motivation for...