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Mike Norman Economics

daniel mcadams – Congress Members Urge Trump to Meddle in Hungary’s Elections

One of the loudest voices screaming "Russia is meddling in our democracy!" has been Rep. Marcy Kaptur (D-OH). Last year she signed a letter to the Speaker of the House demanding that Homeland Security and the FBI brief Congress on "the Russian attack on 21 states' voting systems" (a charge since disproven). The letter complained that "when a sovereign nation attempts to meddle in our elections, it is an attack on our country."This week Rep. Kaptur (and 22 Democrat colleagues) sent a...

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The Spider’s Web – Britain’s Second Empire

[embedded content] 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...

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Connecting the Income Statement and the Balance Sheet

For any firm: "Earning net income increases retained earnings." Ofc conversely, negative income decreases retained earnings... diagram: And then more specifically for Bank accounting: The bank capital can be thought of as the book value of shareholders' equity on a bank's balance sheet. Because many banks revalue their financial assets more often than companies in other industries that hold fixed assets at a historical cost, shareholders' equity can serve as a reasonable proxy for the bank...

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John Hanley – Is Trump for Real

I don't know much about John Hankey except that he is a liberal. He seems to be a conspiracy theorist but I'm keeping an open mind on him. He comes across as fairly reasonable to me.In this short video clip John Hankey says Trump was really a front man for a section of the ruling elite and everything he said was written for him. LIke millions of Americans, he says, that he too fell for the con. I fell for it too, although I'm English and so couldn't vote. Jill Stein was my preferred...

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Nick Hanauer — How to Destroy Neoliberalism: Kill ‘Homo Economicus’

I believe that these corrosive moral claims derive from a fundamentally flawed understanding of how market capitalism works, grounded in the dubious assumption that human beings are “homo economicus”: perfectly selfish, perfectly rational, and relentlessly self-maximizing. It is this behavioral model upon which all the other models of orthodox economics are built. And it is nonsense. The last 40 years of research across multiple scientific disciplines has proven, with certainty, that homo...

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Spitting Image – Every Bomb You Make

[embedded content] Every bomb you make, Every job you take, Every heart you break, Every Irish wake, I'll be watching you. Every wall you build, And everyone you've killed, Every grave you've filled, All the blood you've spilled, I'll be watching you. Oh can't you see You belong to me. They'll be a bill to pay On that judgement day. For every empty plate, Every word of hate, Those who subjugate, Those who violate, I'll be watching you.

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China Links 13 Oct 2018

Translation: The US needs to quit playing the victim when it is actually the perp.EcnsThe five fallacies in Pence's China speech Xinhua See also Reuters U.S. draws China FX into trade dispute as IMF calls for resolution Also Zero Hedge The Perfect Storm Bringing China And Russia Together Vanand Meliksetian via Oilprice.com Also Reuters U.S. security adviser Bolton vows tougher approach to China Also Valdai Club Eurasia’s Great Projects: Assets and Liabilities...

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RT – ‘Land of censorship & home of the fake’: Alternative voices on Facebook and Twitter’s crackdown

They're scared of us getting the truth out. If the MSM just puts out is propaganda it easy to bunk. Through the internet we can share the truth and enlighten others, but they want to stop this.  Billions of people have no idea what's going on.  Alternative voices online are incensed after Facebook and Twitter closed down hundreds of political media pages ahead of November's crucial midterm elections. Facebook says they broke its spam rules, they say it’s censorship. Some...

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UK Column News – 12th October 2018

Vanessa Beeley gets an award for good journalism which surprises everyone, she then goes on to describe the horrendous massacre of 270 civilians by ISIS in a Syrian town. The Western media hardly reported the massacre, says Vanessa Beeley, but I did a search and found that the Daily Mail has reported it. She says the ISIS terrorists went through US controlled territory so we need to ask why were they allowed through? [embedded content]

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