Mike Norman Economics

When India applied for SCO membership or when observers like myself felt elated when India was finally admitted into the grouping in 2017, no one could have foreseen that the grouping held such potential in the very near term itself as a platform for the reset of regional politics — in particular, the India-Pakistan-China triangle. New possibilities are opening up for Indian diplomacy at the two-day summit meeting of the Shanghai Cooperation Organisation (SCO) at Bishkek on June 13-14.......

From Bill's dialectic latest Tom links to down-thread; more myth introduced here as if on cue: MMT not only threatens vested neoliberal interests in politics but also challenges the hegemony of mainstream macroeconomists who have been able to dominate the policy debate for decades using a series of linked myths about how the fiat monetary system operates and the capacities of currency-issuing governments within such a system. MMT exposes these myths. What he appears to be doing is instead...

More figurative language "toolkit" here from Bloomberg journos... not good...China's evolving toolkit to manage monetary policy https://t.co/paGOobaebO pic.twitter.com/RZdlZvoX9u— Bloomberg (@business) June 15, 2018

The 'Russian meddling' in the U.S. presidential election was said to be an act of War, U.S politicians said, but Pompeo says he will stop Jeremy Corbyn from being elected prime minister. Apparently, the mainstream media has not picked up on this hypocrisy. The off the record meeting was from when The Secretary for State met Jewish leaders to discuss Donald Trump’s proposed Peace Deal between Palestine and Israel. Apart from appearing un-optimistic about the Peace Deal, he found time to...

Trump talks all aggression one moment, and then gets all friendly the next. But one thing for sure, he doesn't like the Fed chief. President Donald Trump sees Chinese President Xi Jinpingas more of a friend than the chairman of the Federal Reserve, Jerome Powell, CNBC’s Jim Cramer said Monday. Among Mexican President Andres Manuel Lopez Obrador, Powell and Xi, Cramer said Trump suggests, by his words, that he believes “Powell is probably the worst for the country” and “Powell is not a...

World trade is in deceleration mode. Real-World Economics Review BlogDisruption in the World of TradeC. P. Chandrasekhar and Jayati GhoshThis article was originally published in the Business Line on June 3, 2019

Last week, Thomas Fazi and I had a response to a recent British attack on Modern Monetary Theory (MMT) published in The Tribune magazine (June 5, 2019) – For MMT. The article were were responding to – Against MMT – written by a former British Labour Party advisor, was not really about MMT at all, as you will see. Instead, it appeared to be an attempt to defend the Labour Party’s Fiscal Credibility Rule, that has been criticised for being a neoliberal concoction. Whenever, progressives use...

The most important is a bombshell: a commitment to develop bilateral trade and cross-border payments using the ruble and the yuan, bypassing the U.S. dollar. This implies that the USD will play no role in Eurasian integration. Consortium NewsPEPE ESCOBAR: The Unipolar Moment is OverPepe Escobar

Amazing. All the so-called "very smart people." They all missed it.

A recent poll from the Democracy Collaborative and YouGov reveals that most Americans are ready to spend more for social needs, even if it raises the deficit.  The debate around modern monetary theory (“MMT”) is picking up steam – with its partisans pushing the model further into the public sphere than one might expect, and the old guard of establishment economics, together with some more interesting critical voices, pushing back. The questions at stake can make the average person’s head...