Mike Norman Economics

Taleb can see the idiocy of the results yes; but as of yet hasn't expressed a view or interest in the methodologies that lead to these distinctions... might make sense for a stochastic person like himself (vice a deterministic person)...Seemingly these "idiots who think in labels" don't understand the aphorism, that is, don't get the difference between *expressing* with the use of labels and *thinking* in labels. https://t.co/lEbj0WmUGR— Nassim Nicholas Taleb (@nntaleb) October 27, 2018

You can see in this graph the spike early in the year due to the Trump tax increase (you know, the Trump action morons label "tax cuts for the rich!"); and then this month's spike due to China's monetary policy which is going to probably cost another 3 months of our time...Volatility spikes, but its all relative pic.twitter.com/q9Rr4nhvvn— Howard Silverblatt (@hsilverb) October 28, 2018

Here's a translation of the statement from the PBoC announcing the start of the monetarist policy that created the current round of global asset price instability: 2. What are the main considerations for the central bank to replace the medium-term lending facilities through RRR cuts?  A: The main purpose of this RRR reduction is to optimize the liquidity structure and enhance the financial ability of financial services. Currently, with the increase in credit supply, the medium...

The Trump White House research team have issued a very strange report. It’s called “The Opportunity Costs of Socialism,”. It purports to prove that ‘socialism’ and ‘socialist’ policies would be damaging to Americans because the ‘opportunity costs’ of socialism compared to capitalism are so much higher. What is strange and rather amusing is that the White House advisers to Trump deem it necessary to explain to Americans the failures of ‘socialism’ in 2018. But when you delve into the...

I said here a couple of times that I quite like Putin, but I bind of had the hunch be might let me down one day. I didn't want to believe this so I remained hopeful, but now he might have finally let me down if the RT report that PCR mentions is true, which states that he has agreed to sell the Saudis the S-400 air defense system, which will no doubt be used to pound the starving Yemeni even more. The U.S. and the Russians are all in on the make. The people of the world have no friends....

UPDATE False alarm! Dear Readers: It is all over the internet and international media that Twitter has suspended my account.This is not the case. I do not use social media.I discovered that a Twitter account was operating in my name.I requested that the account be taken down. Paul Craig Roberts“My” Suspended Twitter Account I just checked — Account suspended (10:30 AM CST, 26 Oct)."It can't happen here.""Back in the USSR."Zero HedgeTwitter Bans Former Asst. Treasury Secretary Paul Craig...

IntroductionBankers, agro-business elites, commercial mega owners, manufacturing, real estate and insurance bosses and their financial advisers, elite members of the ‘ruling class’, have launched a full-scale attack on private and public wage and salary workers,and small and medium size entrepreneurs (the members of the ‘popular classes’). The attack has targeted income ,pensions, medical plans, workplace conditions, job security, rents, mortgages, educational costs, taxation,undermining...

On Alexander Hamilton's argument for dictatorship in a republic.Digressions&ImpressionsOn PresidentsEric Schliesser | Professor of Political Science, University of Amsterdam’s (UvA) Faculty of Social and Behavioural Sciences

Michael Calderbank speaks to Marxist economist Costas Lapavitsas ahead of the publication of his provocative new book The Left Case Against the EUCostas Lapavitsas  The book is obviously a critique of the EU as it stands. It’s an assessment of where the union is, what it has become, and its likely direction. It is an attempt to say that the left should have nothing to do with defending this set of institutions. It should assume a critical, rejectionist position. I am asserting that this is...

"Weimar," "Zimbabwe" get replaced by "Venezuela in this puerile pseudo-criticism of MMT. What Jon Hall does get, is that a nation's currency is "the people's money." Unfortunately, he doesn't understand the implications of that for accomplishing public purpose through the political process in a democratic republic. Worse, he doesn't seem to care about understanding it other than superficially in terms of his cognitive-affective bias.The American ThinkerThe 'Limitless' Capacity of...