Mike Norman Economics

LK picked this up, pretty good discussion:Three Cheers for Tucker Carlson!: Heroic Economic Populist:https://t.co/oNxhsP7g5Z pic.twitter.com/7JYL5Rh4Ze— Lord Keynes (@Lord_Keynes2) November 21, 2018

Creditors argue, for instance, that if you forgive debts for a class of debtors – say, student loans – that there will be some “free riders.” Students freed from debt will benefit, while students who were able to carry and pay off their debts had to “meet their obligations.” It is further argued that if student debts are forgiven (or “junk mortgage” loans written down to fair real estate valuations), people will expect to have bad loans written off. This is called a “moral hazard,” as if...

US economist Stephanie Kelton, who served as Bernie Sanders' economic adviser during the 2016 presidential campaign, is currently touring Australia to promote the concept she says isn't too good to be true. "There is nothing to prevent the Australian government, if it chose to do so, from funding a large-scale government job program that would offer employment to anybody who wanted work and couldn't find it anywhere else in the Australian economy," she said.  "Let the private sector...

The results showed that people prone to delusional thinking, religious fundamentalists, and dogmatists tended to believe all news, regardless of plausibility. Big ThinkWho believes fake news? Study identifies 3 groups of people Matthew Davis

How political capital will this cost?PoliticoFull text: President Donald Trump's statement on Saudi Arabia, Khashoggi killingSee also POTUS testing, "How low can you go?"The HillKhashoggi editor on Trump Saudi statement: 'This is a new low' Chris Mills Rodrigo See alsoWashington Free BeaconTrump Stands With Saudi Arabia: We Must ‘Ensure the Interests of Our Country, Israel’ Cameron CawthorneSee alsoFortuneTrump Says He Stands With Saudi Arabia Despite Khashoggi Murder Renae ReintsSee...

New data proves you can support capitalism or the environment—but it’s hard to do both. This started out alarming but got better at the end.These problems throw the entire concept of green growth into doubt and necessitate some radical rethinking. Remember that each of the three studies used highly optimistic assumptions. We are nowhere near imposing a global carbon tax today, much less one of nearly $600 per metric ton, and resource efficiency is currently getting worse, not better. Yet...

Just think of all the North Sea oil profits Britain squandered on tax cuts and dole queues and so today we are fiat broke agsin  after bailing out the banks. And banks like RBS deliberately made thousands of small and medium sized businesses bankrupt to boost their profits which further increased poverty. The One Percent are laughing all the way to the bank while it's austerity for the rest of us. The whipping boy has to pay! The UK government has inflicted “great misery” on its people with...

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Non-random sampling. … a nonrandom sample tells us about a population, but we don’t know how precisely: we can’t determine a margin of error or a confidence level. A lot of mistakes occur from generalizing special cases. This tendency to overgeneralize, along with the tendency to absolutize, often infects formulation of assumptions in "scientific" modeling.econintersectYou Can't Characterize Human Nature If Studies Overlook 85 Percent Of People On Earth Daniel Hruschka | Professor and...

At the demise of empire, City of London financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures in a web of offshore islands. Today, up to half of global offshore wealth may be hidden in British offshore jurisdictions and Britain and its offshore jurisdictions are the largest global players in the world of international finance.  How did this come about, and what impact does it have on the...