Mike Norman Economics

Trump then blamed China, saying that "because of our much tougher Trading stance with China, I do not believe they are helping with the process of denuclearization as they once were (despite the UN Sanctions which are in place)." This is in line with Trump's complaint from early July in which he said that with respect to the denuclearization process, China "may be exerting negative pressure on a deal because of our posture on Chinese Trade." Learning that unlike private deals, deals on the...

The Empire Files is temporarily appealing for donations on a one-time and monthly basis to continue production in the midst of US attacks on the TeleSUR Network. As a result of US sanctions against Venezuela, The Empire Files has been forced to completely shut down operations. The Empire Files, which airs on TeleSUR throughout Latin America and on Free Speech TV and The Real News Network in the United States, has been funded through a contract with the TeleSUR network. As Abby Martin’s...

In effect, a tariff. ReutersU.S. calls foreign mail system unfair in surprise win for Amazon

Everyone said contraction, but I said faster growth and inflation. I was right.

The first is a should-read. The second is a backgrounder.Asia TimesSun Tzu and the Art of Fighting a Trade War From Baltic Sea to Black Sea, Russia aims for a win-win Pepe Escobar

[embedded content] In this video Hilary Clinton admits that the US government created and funded Al-Qaeda in order to fight the soviet union, and she even considers that as a good thing. But she claims that the Americans are fighting Al-Qaeda nowadays. If you really fighting Al-Qaeda, then who are the scums and terrorists you used in order to topple the government of Qaddafi in Libya.

The journalist Katie Hopkins from the Sun newspaper interviews Oksana Boyk from RT and makes the Russians look like liberals as she is so extreme. Okay, she admires Putin and may not be a Putin critic, but she lays into the Muslims asking why do they come here to the free west? She says, "Isn't it because Christian lands are free and tolerant and open?", Oksana Boyk replies saying its because Western countries bombed their countries, but Katie Hopkins takes no notice of that and neither do...

Always wanted a Kalashnikov? Here's your chance. The just-unveiled Russian electric supercar concept by AK-47 creator Kalashnikov has caused heated debate online. Many mocked its old-school design, while others said they’d gladly drive such a vehicle for that very same reason. Forestalling the obvious parallels with Elon Musk’s creations, Kalashnikov Concern said that its CV-1 “electric supercar concept… will allow us to stand in line with the world's electric car manufacturers, like Tesla,...

The state of the nation is parlous.  "Every kingdom divided against itself is brought to desolation; and every city or house divided against itself shall not stand." Mt 12:25 (KJV), Abraham Lincoln  Links:The NationStephen F. Cohen: What the Brennan Affair Really Reveals Stephen F. Cohen | Professor Emeritus of Russian Studies, History, and Politics at New York University and Princeton University Armstrong EconomicsThe Press Conspire to Influence the Elections Come November 2018 to...

Econ 101. The standard model is misleading. Having gone through a handful of the most frequently used textbooks of economics at the undergraduate level today, I can only conclude that the models that are presented in these modern mainstream textbooks try to describe and analyze complex and heterogeneous real economies with a single rational-expectations-robot-imitation-representative-agent. That is, with something that has absolutely nothing to do with reality.….For almost forty years...