Mike Norman Economics

A gentle call to action — before it is too late.Caitlin Johnstone — Rogue JournalistTake Chances Caitlin Johnstone

Devastating smackdown. Implies the reporters should be fired. I would add, probably the editor responsible as well.Want better news? Demand accountability for fake news, lies, and reputational smears.The National InterestWhy Bloomberg Got It Wrong Paul J. Saunders | Executive Director of the Center for the National Interest and associate publisher of the National Interest, and a State Department Senior Adviser during the George W. Bush administration

One of the problems with many theoretical approaches to the business cycle is that there is an implicit bias towards a manufacturing economy. The modelling of business sector decision making for manufacturing is quite different than for the service sector. This matters, as the developed economies are increasingly services-driven (figure above). For consumer-facing service industries, output is largely demand-driven. This fits much better with the post-Keynesian approach. This article is...

This is my short Wednesday offering, which will be quite short considering the last two days have been (necessary) epics. My three-part series created somewhat of a social media storm, which means people are interested in the topic and I think that is healthy. Democracy is strengthened if people educate themselves and contest propositions that are abroad in the debate. But, as I noted yesterday, social media storms have a way of getting out of control and out of the realm of being...

This is the third and final part of this series…. Bill Mitchell – billy blogMMT is just plain old bad economics – Part 3Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

This is a very tough interview of Jeremy Corbyn but I think he stands his ground well. If he gets through this he is unstoppable. The Zionists are pullinmg out every dirty trick they can think of to stop Jeremy Corbyn becoming Prime Minister. [embedded content] Labour leader Jeremy Corbyn talks to Channel 4 News about the wreath-laying controversy - and Benjamin Netanyahu's criticism of him.

Bill Binney makes me laugh in this one. He says the intelligence community have no charge for the Russians trying to alter the presidential election results, what they do have are charges against the Russians for being spies and hacking. Well, this is exactly what American spies do and they are the best at it, says Binney with a chuckle, and then he adds that they would have to charge all the American spies too.Bill Binney says that mainstream journalists are afraid of the Deep State and he...

Comparison between Asian currency crisis and what’s happening now

Most of the "analysis" of Turkey being offered is nonsense. Speculators following it will be taking the losing side of the trade. Alan Longbon nails it. This post is the best available that I am aware of.   The title is too limited. The article comprehensive.  Does President Erdogan understand MMT? And maybe President Putin, too? Is the world waking up? To early to tell but the signs are encouraging. President Erdogan realizes that that the international institutions like...

Here, Paul Jay gives an excellent explanation of Russiagate. Yes, people in the military-industrial complex are keeping the 'Russia did it' scare going to make billions, but also, the American ruling elite hate it that when the Soviet Union folded they didn't get in on the mass privatisations they thought they would get because Russian oligarchs took over the state run industries instead pushing their guys out. Also, Russia  has massive oil reserves which they covet over.So, Russia has the...