Mike Norman Economics

Trump tells the Saudi King he wouldn't last 2 weeks without US protection. Then he rants about oil prices being too high.Expect lower oil prices.Remember when Obama bowed?

An excellent video on how Labour will redistribute wealth in the UK. Workers will get a share of company profits up to £500 and then after that the government well take the rest to reinvest into the UK economy. Paul Mason says it will make entrepreneurs invest in high tech industries instead of low track ones like cleaning services because it's easy money. Everyone benefits, workers get a cut of the profits, society benefits from higher skilled jobs, and entrepreneurs get to do more...

Germany still in the driver's seat? This is an unconfirmed report.Zero HedgeItaly Folds To Europe, Pledges To Shrink Budget Deficit To 2.0%; Euro Surges Tyler Durden

China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday... Derek Scissors, a China scholar at the American Enterprise Institute in Washington, said the provision gave the Trump administration an effective veto over any China trade deal by Canada or Mexico. If repeated in other U.S. negotiations...

You heard this already but Caitlin Johnstone reminds us that this is only a token rather than a change of heart. Don't let down the guard or put the pitchforks away just yet. It ain't over by long shot. Don’t turn our fate over to depraved oligarchs for the price of a few dimes. Keep pushing these sociopathic bastards. Keep pushing them right off the stage. Caitlin Johnstone — Rogue JournalistBezos Bows To Pressure On $15/hr. Keep Pressuring Him. Keep Pressuring Them All.Caitlin...

He doesn't understand MMT, but it throwing in the towel anyway.Bloomberg OpinionBond Vigilantes Won’t Corral Stampeding Budget Deficits Brian Chappatta

Long and detailed.The InterceptI Just Visited Lula, the World’s Most Prominent Political Prisoner. A “Soft Coup” in Brazil’s Election Will Have Global Consequences. Noam Chomsky

Another positive post. Momentum is building.The InterceptModern Monetary Theory Grapples With People Actually Paying Attention To It Rachel M. Cohen

This is what’s keeping the economic expansion going and why stocks keep making new highs.

BIS says that 12% of companies in the world are zombies and in the US 15% are zombies where their profits can't service the debts.Amazon is a trillion dollar company that makes no profits.To keep the whole thing going people are working harder and harder because they are so loaded up with debt.Manual workers are taking opiates to kill the pain of doing too much work as they can't stop because of their debts. There's an opiate epidemic in the US as people try to kill the pain. Everyone is in...