Mike Norman Economics

This is interesting, do you think in images or words? I thought everyone thought in words. I think in words and probably do too much thinking, but I'm also good at visualizing. When I studied electronics, maths, and physics I used a lot of visualization to understand the topics.When I think about MMT I think in words, but I can also see the banks, the off-shore tax havens, and people working and spending their money.I knew some people weren't good at visualising things, but I never knew that...

This video is hilarious, but has a serious note. Jimmy Dore says they are censoring Facebook and Twitter to get ready for the coming war with Iran.If you haven't seen the neocon clip where some guy calls for a false flag attack on a Iranian submarine, you might not get Graham Elwood's joke, so I have posted the neocon clip below. It's shocking! [embedded content] [embedded content]

One thing that interests me in the reports is a particular (very wonkish) detail. For the US and most other countries, the quarter’s GDP is routinely reported relative to the preceding quarter, not relative to four quarters ago. Why do the media and markets routinely focus on the 1-quarter growth rate for the US but focus on the 4-quarter growth rate for China? It is not because China’s National Bureau of Statistics fails to make the 1-quarter change available. It’s there in footnote 2 of...

There's quite a lot here, but if you like Chris Hedges, it's quite good. Here he is talking about his new book, America: The Farewell Tour.Chris Hedges won a scholarship to a top school and he says that the elite are even stranger in person. They are pompous, full of their own importance, selfish, narcissistic, psychopathic, and perverted ( probably due to their inbreeding, I might add - lizard people!).Book review:Chris Hedges’s profound and provocative examination of America in crisis is...

How to handle bad periods in the market.

Experts versus populists, bureaucracy versus democracy: Paul Tucker, former deputy governor of the Bank of England and a fellow at Harvard's John F Kennedy School of Government, chooses books that wrestle with the central dilemmas of today's liberal political order…. Important with respect to the paradoxes of liberalism that are are now coming to a head in the conflict between politics as usual and populism. Steven Bannon's chief target was the administrative state, which is bound up in the...

The new big fear is that this month, either or both, Moody’s and S&P, will downgrade Italian debt two notches into junk territory. The potential implications of such a move, not only for Italy but for the European project as a whole, are so huge that many market players are discounting it as a possibility altogether. “A downgrade to junk could trigger a full-blown (euro zone) crisis,” said Nicola Mai, a portfolio manager at PIMCO, the world’s largest bond investor. “…Which is why I...

Warren Mosler tweeted this saying he liked it. Who was it that said that he doesn't like the left wing economists who have taken over MMT? [embedded content] Our nation’s finances are a blistering topic. Democrats blame Republicans for "blowing up the deficit" with tax cuts, while Republicans insist that programs such as Social Security and Medicare are the real drivers of our fiscal mess. As politicians fight over who’s at fault, an important debate is getting lost in the fog. Professor...

In the comments section of my last post, I was asked what other Russian ideologies might be, and how they contrast with conservatism. So here’s a brief stab at an answer: IrrussianalitySOME OTHER RUSSIAN ISMSPaul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa

Chilling stuff, and Abigail Disney says that after they have taken everything else, 'they're coming after your social security '. Where have we heard that before? [embedded content]