Mike Norman Economics

Just four days after president Trump signed an executive order last Thursday enabling new sanctions on Venezuela’s gold sector, in a bid to disrupt trade with Turkey which U.S. officials believe is undermining efforts to cripple Venezuela's economy and force Maduro and members of his government out of office, Maduro is now seeking to repatriate about $550 million in gold bars from the Bank of England over fears it could be caught up in international sanctions on the country. US economic...

It's not perfect, it's mainstream economics, but it's interesting and raises some good points.'Trump said he was going to drain the swamp, but he just a president for rent seekers'.It doesn't mention it here, but was the rising stock market just salivation over the $110 billion arms deal. [embedded content] With unemployment at a 50-year low, wages starting to pick up, and the stock market booming, the US economy has defied expectations since the 2016 election. Nobel laureates Angus Deaton...

It's very good if you have time? A lovely guy, he voted for Jill Stein. [embedded content]

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Probably an accurate view of how the current US ruling class views the recent past and present global situation... from the libertarian Hanson...[embedded content]

John Maynard Keynes was a genius on par with Darwin, says, Ann Pettifor, for his revolutionary new way of looking at economics. And some of his theories are still too revolutionary today. Resistance to the book’s content came immediately drafts began to circulate. Keynes, after all, was trying to effect “a revolution . . . in the way the world thinks about economic problems” and it is natural for the mind to mount a defence of its established contents and processes. Keynes’s most...

Well, he seems a nice guy to me. I hope you win, Warren! [embedded content]

Russia, you see, has a serious problem with population decline. They’re expecting a 28 percent plunge in women of childbearing age by 2032. Their population peaked at about 148 million, in 1991. You might notice that as the year of the collapse of communism. After the revolution, a series of factors — including introduction to the joys of international capitalism, with the accompanying loss of free health care, spiking economic inequality, accelerated substance abuse, etc. — caused Russia...

The starting point of MMT is that our thinking about money is conditioned by the view that money is based on gold, which leads us to ignore the radical differences between gold-backed money and “fiat” money, which comes into existence by government decree, and does not require any backing. With a gold-backed currency, the concept of a government deficit makes sense – the government must have gold, in order to spend it. However, with a fiat currency, a deficit must always be self-imposed;...

Well, I agreed with everything John Wright said here. But I became fascinated by the embedded clip of Putin. For the first time I noticed how the interpreter also copied Putin's tone and mannerisms so you get to hear how he is expressing himself. I have noticed this before but hadn't really thought about it, but I guess interpreters don't just translate, they also try to give an indication of how things are being said. Well, Putin has always sounded modest, genuine, concerned, and sincere to...