Mike Norman Economics

How does uncertainty affect the economy? The authors of an Economic Synopses essay examined this question, and their findings support the view that firms and households delay spending when uncertainty increases. The essay was written by Laura E. Jackson, an assistant professor at Bentley University; Kevin L. Kliesen, a business economist and research officer at the St. Louis Fed; and Michael T. Owyang, an economist and assistant vice president at the St. Louis Fed.... As Keynes said.FRBSL...

Unqualified Liberal Art dialectic trained morons at CBO using two different Basis of Accounting; using Modified Accrual Basis to do their illustration then using Accrual Basis for evaluation.Same story different day... nothing changed... these morons never make an adjustment, dialectic trained moron people never adjust to a miss, they synthesize; often with the false...rinse and repeat..Federal debt is expected to rise from 78% of GDP in 2019 to 92% percent in 2029 and 144% in 2049, the...

The Chinese system is neoliberalism with Chinese characteristics, says Pepe Ecobar, but Ed Conway says the way the Chinese have increased prosperity for its population over the last 30 years is phenomenal.The US sysyem of endless war is not working for them.Pepe Escobar says that the socialists don't really have the leaders to bring about change, and that Corbyn and Sanders will need panels of experts to help themI was thinking, say I got into politics and was very successful at it and got...

Last week’s (July 5, 2019) release by the US Bureau of Labor Statistics (BLS) of their latest labour market data – Employment Situation Summary – June 2019 – reveals a steady labour market with month-to-month volatility. The US labour market is still adding jobs, albeit at a slower pace than last year. The unemployment rate remains low (at 3.67 per cent) and the participation rate has moved up a tick, which is a good sign. It is also clear that there is still a substantial jobs deficit...

Michael Roberts BlogGreece: completing the vicious circleMichael Roberts FRBNY — Liberty Street EconomicsFrom Policy Rates to Market Rates—Untangling the U.S. Dollar Funding MarketGara Afonso, Fabiola Ravazzolo, and Alessandro Zori The Political Economy of DevelopmentTwo types of freedom Nick Johnson Dances with BearsWILL THE UKRAINE PARLIAMENT ELECTION REVERSE THE MAIDAN PUTSCH, DRIVE THE GALICIANS FROM POWER?John Helmer On the EconomyMore evidence–this time from CBO–that higher (even...

A lot of action starting this month thru the end of September.

Mike Pompeo?PoliticoMike Pompeo unveils panel to examine 'unalienable rights' Caitlin Oprysko

In my new INET working paper, I revisit their method and identify a fatal fallacy of the case for expansionary austerity that by itself overturns the claims made for the view.Statisticians call the mistake “reverse causality.” What it means, in this case, is that the statistical techniques adopted to test models of expansionary austerity fail to properly account for cyclical movements in the expenditure-GDP ratio. It follows that decreasing expenditure-GDP-ratios appear to cause an increase...

Over the twenty years that I have been pursuing an Islamic approach — focusing on the production of USEFUL knowledge, I have managed to heal all three of these divides. This happens naturally, when you focus on solution of real world problems. You automatically need to combine information coming from many different specialization areas. You need to use reasoning and also intuition. You also need to use both theory and its applications to the real world experiences. This leads to substantial...

Now Trump pointing to commie USD zombie China's "pumping!" and advising US to "match" ... also mentions Europe but ECB hasn't "pumped!" since December so I don't know what he is talking about there....  he'll crash the whole system again... the unqualified Monetarists in full control of global policy ... MMT people planting trees... SCARY!!!!China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue...