Mike Norman Economics

My job forecasts are always much more accurate than what other economists offer.

The two countries have set up a joint working group that would identify subjects of cooperation in the energy sector, including ways to rein in global oil prices. The group, set up a month ago, will be co-chaired by a joint secretary in the oil ministry and his Chinese counterpart.China and India, second- and third-largest oil consumers, respectively, have been meaning to form a joint front for more than a decade to assert their weight in the oil market, dominated by a producers’ cartel,...

With self-proclaimed Venezuelan Interim President Juan Guaido’s third coup having failed, it’s important to take measure of the global goals Washington has in trying to overthrow President Nicolas Maduro and the Bolivarian movement. One historian told Sputnik the US would gain much-needed leverage over rivals like China.... "If US imperialism can then get under its belt Venezuelan oil, and Iranian oil, and have the Permian Basin in Texas, it's controlling the lifeblood of the Chinese...

In – The austerity attack on British local government – Part 1 (April 30, 2019) – I examined the way in which the central government austerity had impacted on the major service areas in Britain and considered some of the motivations that have been driving this agenda. In this Part, I am examining the way in which these cuts have been distributed at the local government level. How their grants have been cut and how they have been forced to rely on their own income bases to maintain a...

More than 40,000 people have died in Venezuela since 2017 as a result of U.S. sanctions, according to a new report by the Center for Economic and Policy Research co-authored by economists Jeffrey Sachs and Mark Weisbrot. The report examines how U.S. sanctions have reduced the availability of food and medicine in Venezuela and increased disease and mortality. We speak with Jeffrey Sachs in our New York studio. In the report, he writes, “American sanctions are deliberately aiming to wreck...

So, you have to tune out all of this MMT hippie-punching. That’s politics. Now, you don’t have to agree 100% with the MMT framework. The real question is, first and foremost, what parts of MMT make sense as a descriptive framework. That means understanding the framework and ignoring the policy prescriptions, where all of the vitriol is focused. One basic thing that works for me: Chartalism In March, I tried to show you where MMT dovetails with the economics of six economists of repute. I...

Fed cites strong growth and labor market. Curiously cuts one rate.

The French poet Charles Baudelaire wrote in 1864 that “the cleverest ruse of the Devil is to persuade you he does not exist!” I will argue here that this is directly applicable to today’s neoliberals, whose devil’s ruse is to pretend they do not exist. Although neoliberalism is widely recognized as the central political-ideological project of twenty-first-century capitalism, it is a term that is seldom uttered by those in power. In 2005, the New York Times went so far as to make...

World Economic ForumThe world is getting angrier, according to a new poll Kate Whiting

Nicholas Kaldor on how neoliberalism weakened labour power. Happy Labor Day to all those that don't have a passive income from portfolio investment. You are the people that get it done. The Case for Concerted ActionLabour Day!V. Ramanan