Mike Norman Economics

They're all crawling out from under their rocks with crazier and crazier critiques of MMT

The Greatest Bank Robbery in history-Coming to a cinema near you. Business as usual! A FILM BY SAMIR MEHANOVIC Spank the Banker is a story about the biggest bank robbery in history of UK - the looting of 100,000 small businesses by their own corporate bankers. Made by BAFTA award-winning director Samir Mehanovic, we follow the intimate stories of six ordinary individuals who fought back against a corrupt financial system. [embedded content]

I hear this question being asked more frequently now and it's very instructive.

Part 3 with Greg Palast. They say Maduro is a dictator, who allows the opposition to go on marches; and the opposition can call the U.S. to start civil war without being arrested; and they can bear arms; and the opposition owns all the media and prints mainly anti-government propaganda.They say that Maduro is stopping the oil money from getting to the people, even through the US. has  frozen Citco's bank Venezuela's bank accounts and all the oil money is flowing into the U.S. financial...

I was on Twitter the other day and it kept warming about tweets that they said contained inappropriate data and I had to click on an view button to see it. When I clicked on I expected to see stuff about Russia-gate, or the Skripal hoax, or Assnge, etc, but it was just criticism of the finance sector, something you might read in the Guardian, or the Financial Times, even. It was just under one guy. Maybe he had tweeted something they didn't like and now they were blanking half his posts, I...

Richard Wolff explains the age old problem of capitalism: To make a profit the capitalists need to sell for more than the products cost to make, which means the wages of the staff won't be quite enough to buy all the products.To some degree they get around this in Europe and Japan, says Richard Wolff, by redistributing wealth through welfare programs and state funded healthcare, which helps people retain purchasing power and this keeps businesses going.Richard Wolff says the U.S. is intent...

Very similar to propaganda which got us into Vietnam and Iraq wars.   Must See NY Times Video (6 minutes) Contradicts U.S. Claim That Maduro Burned Aid Convoy “Each of the trucks burned by Maduro carried 20 tons of food and medicine,” Senator Marco Rubio wrote on Twitter, repeating a claim posted by a Colombian news network that was on the scene. “This is a crime and if international law means anything he must pay a high price for this.”Contacted by The Times about the footage Saturday, a...

The more intransigent Israel becomes in its treatment of the Palestinians, the less international pressure is exerted upon it The United Nations postponed last week for the third time the publication of a blacklist of Israeli and international firms that profit directly from Israel’s illegal settlements in the Repeatedly, Israel has exerted great pressure on the UN to keep its army off a “shame list” of serious violators of children’s rights. Israel even avoided a listing in 2015...

If I could have my way I would turn the City of London into a housing association. That would make some nice apartments for poor Londoners.There's so much in this article, it's hard to choose what to take out. I might have to do it in instalments.  Tax havens are locations around the world where wealthy individuals, criminals and terrorists, as well as governments and government agencies (such as the CIA), banks, corporations, hedge funds, international organizations (such as the Vatican)...

The British Government says we have run out of money so we have to have very harsh austerity now. They say it will put right the economy and then one day we will be all be better off again.Thatcher said we are living beyond our means and that cut backs are necessary. We have to tighten our belts, she would say. Look after the pennies and the pounds look after themselves.Conservatives say they believe in the work ethic, and that no one owes you a living. They support the Conservative Party...