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Mike Norman

Mike Norman

Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Articles by Mike Norman

World Economic Forum — Who’s who at Davos Agenda Week 2021

17 hours ago

More than 2,000 leaders will join the virtual Davos Agenda under the theme of "A Crucial Year to Rebuild Trust” from 25 – 29 January.Twenty-five heads of state and government will join to address urgent need for global cooperation.Six-hundred global CEOs to represent the private sector in 140 sessions live-streamed to the public.Civil society leaders, academia, arts and culture, as well as youth, will be represented….“Rebuilding trust and increasing global cooperation are crucial to fostering innovative and bold solutions to stem the pandemic and drive a robust recovery,” said Klaus Schwab, Founder and Executive Chairman of the Forum.“This unique meeting will be an opportunity for leaders to outline their vision and address the most important issues of our time, such as the need to

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Ray McGovern — Daniel Lazare and I Go Hot and Heavy on Biden-Russia

18 hours ago

Are there straws in the wind that Biden my be able to create a more decent relationship with Russia? I say Yes; Dan says No. A wager of $.25 is at stake.I think Ray is going to be a quarter poorer with Biden up against the MICIMATT (Military-Industrial-Congressional-Intelligence-MEDIA-Academia-Think-Tank) complex, where there are trillions of dollars and world domination the table. His initial appointments don’t bode well. The first order of business after Biden taking control was mounting a color revolution attempt in Russia, which is taking place now, with US interference prominent enough for the Russian government to call the US embassy out over it (and again here).The US-UK strategy has remained essentially the same as when surfaced by Halford Mackinder in 1904 and elaborated by

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With Kamala Harris, Americans Yet Again Have Trouble Understanding What Multiracial Means — Jennifer Ho

19 hours ago

There are some key terms in demographics that apply to the current US in particular, but also the UK through the British Empire and to some degree France with the French Empire. It is also the case with Russia and China, which are multi-ethnic countries.These terms are "multicultural," "multiracial," and "intersectional." and also "gender" and "sexual orientation."Culture has to do with tradition. Race has to do with a genetic grouping. They are both included in ethnicity. Gender and sexual preference involve physical characteristics and behavior.Intersectionality is the combination of the above in individuals and groups. This is a big issue now and growing as the global population becomes more diverse in a "shrinking" world.But being the melting pot and world leader, the US is at the

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Paris-gate

22 hours ago

Here we go again…. This is just like when recently the Art degree left literally thought Trump meant that illegals were riding across the border on the backs of literal coyotes…  major cognitive impairment in these people no ability to discern the figurative from the literal…  and no ability to discern the abstraction from the real…  they are all unqualified…  SCARY!!!!AOC lays into Ted Cruz after misleading tweet on Paris Climate Agreement https://t.co/E9IwC50CVM— The Independent (@Independent) January 21, 2021

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Now Even the QAnon Shaman Disowns Trump: I Was Duped

1 day ago

Trump didn’t pardon him. He must feel very let down because he probably felt a lot of loyalty for Trump. And the protestors were probably expecting a coup which didn’t happen. The legal representative of Jacob Chansley—better known as the “QAnon Shaman,” who burst into the U.S. Capitol wearing furs and Viking horns—has said his client feels cheated by Trump. Referring to his client as “the guy with the horns and the fur,” attorney Al Watkins told the St. Louis NBC News affiliate KSDK: “[Chansley] regrets very, very much having not just been duped by the president, but by being in a position where he allowed that duping to put him in a position to make decisions he should not have made.”The Daily BeastNow Even the QAnon Shaman Disowns Trump: I Was Duped

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Facebook purges left-wing pages and individuals

1 day ago

The accounts broke no rules and no reason was given for deleting the them.  On Friday, Facebook carried out a purge of left-wing, antiwar and progressive pages and accounts, including leading members of the Socialist Equality Party. Facebook gave no explanation why the accounts were disabled or even a public acknowledgement that the deletions had occurred.Since the 2016 election, the US intelligence agencies have advocated internet censorship in the name of fighting “fake news.” While these actions have been presented as targeting far-right conspiracy theories, they have in fact disproportionately affected left-wing, antiwar and socialist organizations.WSWFacebook purges left-wing pages and individuals

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MMT Is Already Helping — Pavlina R. Tcherneva

2 days ago

I was looking forward to reading Doug Henwood’s piece and the chance to respond to what I was sure to be a hard-hitting analytical critique. I was disappointed. There is no there there and thus my reply will be short.…Smackdown. JacobinMMT Is Already HelpingPavlina R. Tcherneva | Assistant Professor of Economics at Bard College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the Center for Full Employment and Price Stability

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The crisis of American power: How Europeans see Biden’s America — Ivan Krastev and Mark Leonard

2 days ago

Our survey showed that Europeans’ attitudes towards the United States have undergone a massive change. Majorities in key member states now think the US political system is broken, that China will be more powerful than the US within a decade, and that Europeans cannot rely on the US to defend them. They are drawing radical consequences from these lessons. Large numbers think Europeans should invest in their own defence and look to Berlin rather than Washington as their most important partner. They want to be tougher with the US on economic issues. And, rather than aligning with Washington, they want their countries to stay neutral in a conflict between the US and Russia or China…. European Council on Foreign RelationsThe crisis of American power: How Europeans see Biden’s America The

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New Covid-19 strain may be more lethal, Robert Peston learns

2 days ago

Alarming news! The worrying news is that although treatments for Covid-19 have improved, the new strain does seem to be more lethal."Four groups – Imperial, LSHTM, PHE and Exeter – have looked at the relationship between people testing positive for the variant vs old strains and the risk of death – that suggests a 1.3-fold increased risk of death.ITVNew Covid-19 strain may be more lethal, Robert Peston learns

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The Next Neoliberal President… — Thomas Neuburger

2 days ago

Before you go wild celebrating the new administration (unless you are among the 1%). The Swamp and the Borg won.Naked CapitalismThe Next Neoliberal President…Thomas NeuburgerOriginally published at DownWithTyranny!See alsoMR Online (maybe not as obnoxious as Mike Pompeo, but cut of the same cloth)Biden’s ‘Secretary of State for regime change’ indicates no change in U.S. foreign policyOriginally published: The Morning Star (January 20, 2021) AlsoStrategic Culture FoundationPresident Biden’s New Administration, Old AggressionEditorialAlsoJohnston’ Russia ListBiden Administration Set to Challenge Russia Across the Southern Caucasus, Sitnikov SaysAlsoReminiscence of the FutureWhy START.Andrei MartyanovAlsoCounterpunchRussiagate Ain’t OverJoe Lauria

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Fauci says it’s ‘liberating’ working under Biden — Jonathan Easley

2 days ago

I can tell you I take no pleasure at all in being in a situation of contradicting the president, so it was really something that you didn’t feel you could actually say something and there wouldn’t be any repercussions about it,” he said. “The idea that you can get up here and talk about what you know, what the evidence and science is, and know that’s it — let the science speak — it is somewhat of a liberating feeling.”…The HillFauci says it’s ‘liberating’ working under BidenJonathan Easley

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Mike Norman Economics 2021-01-22 17:18:38

2 days ago

Australians could soon be deprived of Google’s ubiquitous search engine, with the web behemoth threatening to cut off service should lawmakers pass a hot-button measure forcing tech firms to cough up revenue to media outlets.As Australian legislators continue to debate the controversial law – which would compel internet platforms to hand over a cut of revenues to press agencies for sharing their content – Google stepped into the fray on Friday, insisting the move would make its operations unfeasible in the country.Internet growing pains. RTGoogle threatens to REMOVE search engine in Australia if legislators force it to share profits with news content creators

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Realizing the Dream of Communal Cities: A Conversation with Jennifer Lemus and José Luis Sifontes Cira Pascual Marquina

2 days ago

Spokespeople from one of Venezuela’s flagship communes discuss the building of a communal city and the path towards Chávez’s communal state.…I believe that it is very important to understand that Bolivarian socialism is built from below, from the bases. It is not imposed by decree, and that is why it must express itself as a government that responds to the interests of the people.The communal government – constituted by the people, by the pueblo, by the spokespeople of the communal councils and the communes – will create communal cities with an even wider horizon: the new communal state.In other words, the communal city cannot be understood as an end in itself. The communal city is part of a progressive process. After that comes the grouping of various communal cities, the confederation

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Lars P. Syll — How Richard Posner became a Keynesian

2 days ago

Judge Richard Posner used to be a hard-nosed Chicago School jurist and legal theorist. Until he actually read the General Theory. While this is old news, it is worth rereading and if you haven’t seen it yet, reading for the first time.Lars P. Syll’s BlogHow Richard Posner became a KeynesianLars P. Syll | Professor, Malmo University

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Ding Zhen and the Myth of the True Khampa Man — Xu Jun

2 days ago

While this is a human-interest story about Tibet, it is also significant for two other related reason.The first is that the Chinese are learning to capitalize their rich cultures, for example, through adventure tourism.The second is that they have their own "cowboy" myths, which some of the subcultures fit very well. This post is about one of them.Most Westerns are likely familiar with this through martial arts films, the Samurai films of Japan, and the Kung Fu films of China (mostly Hong Kong). This is a similar but different dimension.Sixth ToneDing Zhen and the Myth of the True Khampa ManXu Jun | professor at the Center for Tibetan Studies of Sichuan University

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Covid cases rolling over

2 days ago

Good sign here… and that this is happening in middle of winter…. maybe mRNA vax on top of antibodies finally disrupting transmission…  I’m assuming this is opposite of what is happening in Europe…Virus case growth now declining in 46 states … 42 of them have seen 7d case average fall > 10% from prior week; for U.S. overall, 7d average is -20% from week ago @COVID19Tracking @Bloomberg pic.twitter.com/V7LOwujb5Z— Liz Ann Sonders (@LizAnnSonders) January 22, 2021

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Galileo’s Dialogue

2 days ago

Galileo’s stuff apparently was presented as dialogue in 1632….  nothing changed for centuries…. still riding horses for centuries…. slave labor…, .. obviously didn’t work… dialogic method still doesn’t work today… but Art Degree people keep trying to employ it expecting a different result…Deconstructing the Dialogue! Galileo’s Masterpiece: On Two Chief World Systems 🔭 https://t.co/fQVhZyIIru pic.twitter.com/4I00TIIu8U— Brian Keating 🔭 (@DrBrianKeating) January 20, 2021

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Why Russia & Belarus Are Not Irrational to Fear Another ‘Operation Barbarossa’ — Eric Zuesse

3 days ago

Balance of power is based on parity. US policy is dominance. Dominance is about submission. The quest for dominance is leading to an arms race involving Russia and China. While neither Russia nor China wants to engage in an arms race, the economic incentive for the US to do so is strong owing to the MIC and military Keynesianism.Strategic Culture FoundationWhy Russia & Belarus Are Not Irrational to Fear Another ‘Operation Barbarossa’Eric Zuesse

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SouthFront — After 12 Years Of Deliberations, ECHR Concludes Georgia Began Hostilities Against Russia In August 2008

3 days ago

The European Court of Human Rights (ECHR) has declared unfounded the accusations of Georgia against Russia in connection with the events of August 2008 in South Ossetia, the press service of the Russian Ministry of Justice reported.It is noted that on January 21st, the decision of the Grand Chamber of the ECHR on the interstate complaint “Georgia against Russia (II)” was published, the subject of which is the events of August 2008 in South Ossetia and their consequences.The Court asserted that since August 12, 2008, “strong Russian presence and the South Ossetian and Abkhazian authorities’ dependency on the Russian Federation indicated that there had been continued “effective control” over South Ossetia and Abkhazia.”After almost 12 years of trial, the ECHR ruled that Russia should not be

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Book Review: The Making of US Empire at the Dawning of Its End — Pepe Escobar

3 days ago

As the Exceptional Empire gets ready to brave a destructive – and self-destructive – new cycle, with dire, unforeseen consequences bound to reverberate across the world, now more than ever it is absolutely essential to go back to the imperial roots.The task is fully accomplished by Tomorrow, the World: The Birth of U.S. Global Supremacy , by Stephen Wertheim, Deputy Director of Research and Policy at the Quincy Institute for Responsible Statecraft and a research scholar at the Saltzman Institute of War and Peace Studies at Columbia University.Here, in painstaking detail, we can find when, why and especially who shaped the contours of US “internationalism” in a roomful of mirrors always disguising the real, ultimate aim: Empire.Wertheim’s book was superbly reviewed by Prof. Paul Kennedy.

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A Reminder from Berlin — Peter Radford

3 days ago

I would not lay the issues entirely at the feet of economics, but Peter Radford has a point worth considering.As I have been saying, it is impossible to approach most interesting and important issues in life with without a systems view, which necessitates improving this view with feedback as the natural sciences do. Conventional economics pretends to be a natural science but has no comprehensive systems view of a subject matter that is social and political as well as economic. The result is as Peter Radford asserts. Disaster.BTW, the MMT approach doesn’t fix this either since it is analysis of a narrow subject matter. It lays a foundation but a superstructure needs to be built on that foundation of institutional analysis of monetary production societies (note: not "economies").The

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More violence scheduled

3 days ago

Hey left morons there are new assaults imminent!  Better get on it!!WWE announces fan attendance at upcoming Wrestlemania. Great stuff… https://t.co/PrVoSY6O5j— Steve Cortes (@CortesSteve) January 21, 2021

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