Mike Norman Economics

Given his erratic behavior, from daily Twitter eruptions to upping his tally of lies by the hour, it’s hard to think of Donald Trump as a man with a plan. But in at least one area — reshaping the economy to serve the needs of the military-industrial complex — he’s (gasp!) a socialist in the making.… William Hartung apparently misses that the first step in the plan is reality distortion, also known as "gaslighting." With such field distortion, establishing truth becomes impossible on...

These are some contributions the United States government has made to China's reform and opening up – one failed attempt at sabotage after another. And it won’t stop until the "America first" policy has become worn out, and China's reform and opening up policy has become unbreakable.... The message to the people of China. Western powers are still trying to humiliate China, now chiefly the US. This is the most powerful adversarial message short of accusing the US of threatening war.The...

Not that affordability is relevant from the MMT POV, but it's worth looking at anyway. "They" view it conventionally in terms of the interest rate "r," that is, the policy rate, and the growth rate "g" measured as change in GDP.This is the ratio of r to g, or "r : g". As long as r is greater than g, "they" consider the increasing interest affordable. In fact, "r > g" has become a meme and entered the jargon since the publication of Thomas Piketty's Capital in the Twenty–First...

This is a good sign if accurate; they just have to lay off the monetary too...China Likely to Rely on Fiscal Stimulus Measures for Economy - Bloomberg https://t.co/UeAB9gte3Z— ShanghaiMarketTiming (@ShanghaiMT) November 1, 2018

Wages finally increasing faster at the bottom... US ??Finally, wage growth in the bottom of income distribution pic.twitter.com/9nVSMGwKDJ — Daniel Lacalle (@dlacalle_IA) November 1, 2018 Double triggers!!!!

Happy Halloween to all the zombies out there!!!!  Enjoy your day!!!!

The British intelligence knew the Saudis were going to murder Khahiggi and did not warn him. The Saudis thought they would get away with it and probably knew it was being recorded but Erdogan surprised them.Both Col. Wilson Pilkington and Paul Jay mention how the Saudis may have been behind 9/11 and that Bush and Cheney probably knew of the attacks in advance.So, why is Lindsey Graham, a war hawk and a spokesmen for the military-Industrial-Congress, speaking out about this, well, probably...

In the face of all the supposed bullishness the dollar’s rally has been remarkably unimpressive.

The vast majority of economists believe that the Fed's asset holdings keep down U.S. interest rates. It is inconsistent to believe that the Fed's holdings of U.S. assets keep down interest rates here, but China's holding of foreign assets does not keep down the value of its currency. Beat the PressDoes China's 2.5 Percent Inflation Rate Really Explain the Decline in the Value of Its Currency Against the Dollar?Dean Baker | Co-director of the Center for Economic and Policy Research in...

I have read that the reason there will never be a libertarian society is that libertarian are so individualistic that they can't agree on anything - it's like herding cats.  Libertarians are a querrelsome lot, but hey, come to think of it, that might apply to us here too?Jerry Taylor is a left leaning libertarian who was once a member of the Cato Institute and in his interesting article he points out some of the faults, in his opinion, in libertarianism thinking. He believes that a strong,...