Mike Norman Economics

The Khashoggi murder and Trump’s reaction to it will have an effect on the markets.

According to a recent survey, 46% of participants do not doubt that the military confrontation will occur next year. As a comparison, in 2017, only 5% of the US military expected an armed conflict, while 50% discarded a war scenario and 4% did not respond. As for the most likely enemies, US soldiers mostly mentioned Russia and China. Respectively, 72% and 69% of those interviewed chose these two countries.... Fort Russ News NEARLY HALF OF THE U.S MILITARY PERSONNEL BELIEVES WAR WITH...

I don't know if this has been posted before, but you can get a free PDF copy of the book in the link below. “Rigged: How Globalization and the Rules of the Modern Economy Were Structured to Make the Rich Richer” very skillfully proves that textbook economics is far removed from the world we actually live in. Baker shows how the distribution of income in our society has little to do with merit and how postulates of neoclassical economics are selectively invoked to prevent any actions that...

I’ve been waiting for this paper to drop, ever since Suresh told me about it last year. It’s groundbreaking. What it does is to take Steve Teles’ qualitative work on the conservative legal movement, and then ask a simple question: if we start with the qualitative evidence about the program’s intentions, then FOIA the hell out of George Mason University to find out which judges attended the Manne seminars, and then apply cutting edge econometrics and natural language processing to their...

In a Jacobin article earlier this year, Thomas Fazi and Bill Mitchell argued in favour of a hard Brexit. We published a reply, also in Jacobin. Fazi and Mitchell (FM) responded with accusations of strawman arguments, false claims, bias and muddled thinking. We intended to write a reply at the time, but other commitments got in the way. However we believe that FM’s reply was sufficiently inaccurate – and in places, dishonest – that a reply is required, even if belatedly.... Critical Macro...

It looks good, but I've only watched the trailer.Example : Should airlines be allowed to have scantily dressed female flight attendants if it creates more revenue?I walked past a pub the other day which had a sign saying, 'Topless Barmaid', and I was appalled, but then I came to the conclusion it was the name of a band. The pub has live bands. Phew! (At least, I hope it was the name of a band).Conservatives embrace capitalism because of its work ethic, but it often goes against much of what...

The fund reports that Britain’s finances are weaker than all other nations except Portugal, and says privatisation is to blame Columnists usually proffer answers, but today I want to ask a question, a big one. What price is paid when a promise is broken? Because for much of my life, and probably yours, the political class has made this pledge: that the best way to run an economy is to hack back the public realm as far as possible and let the private sector run free. That way, services...

I think this takes them now 30% below old highs... They are going to have to add capital to their banks eventually (US in 2008/09 happened at -40%) to stop this price reduction in risk assets due to their current massive non-risk reserve addition... sorry libertarians...In the meantime you got a billion people over there who are getting more pissed off day after day... scary!!! They are losing control of the exchange rate too as they have to increase their bid in CNY per USD in order to...

With great flourish, Theresa May last week announced that she was lifting the borrowing cap which constrains local councils’ ability to finance new housebuilding. “We will only fix this broken market by building more homes,” the prime minister said. “Solving the housing crisis is the biggest domestic policy challenge of our generation. It doesn’t make sense to stop councils from playing their part in solving it. So today I can announce that we are scrapping that cap.” Nope. In reality,...

More bad news....America Is Drowning in Milk Nobody Wants https://t.co/4U0rBfIXo3 pic.twitter.com/b4Pe5LtLtZ— Blimling&Associates (@Blimling) October 17, 2018