Mike Norman Economics

The US budget deficit is USD 75 billion in June 2018; this is a net add of income to the private sector and allows it to grow. The good news is that dollars are being added to the economy by the Federal government, and it grows the economy. Further net inflows are expected for the rest of the year from the Federal government and private credit growth. Private credit growth has so far added $36 billion to the net money supply; last year, it was only $23 billion. At this rate, it could total...

Caitlin Johnston summarizes the foundational issue of Eastern and Western philosophy quite nicely. The history of thought begins with reflections on this. Indeed, one view of philosophy is that it is reflection on experience.Well-stated. A+Caitlin Johnstone — Rogue JournalistTruth Caitlin Johnstone

Unfortunately, Shannon's entropy, often referred to as information entropy, and then shortened to just information, is often confused with the colloquial term "information". This brings connotations of data, of knowledge, of specific sets of symbols with specific meaning. But as Shannon and Weaver said in their book from a year later, we must not confuse information theory information with meaning. This collision of terminology is amplified when it encounters economics, where information...

In my last post I set out the official Government account of the events in the Skripal Case. Here I examine the credibility of this story. Next week I shall look at alternative explanations.... Craig Murray BlogThe Holes in the Official Skripal StoryCraig Murray, formerly British ambassador to Uzbekistan and Rector of the University of Dundee

Don't pretend to be smart when you're not. Better to just listen and learn.

Top security and intelligence officials from Pakistan, Iran, Russia, and China held a meeting in Islamabad, where they stressed the need for more active involvement of regional forces in efforts to resolve the conflict in Afghanistan.This is reported by TASS. On Tuesday, a meeting of leaders of the intelligence services of Russia, Iran, China and Pakistan was held in Islamabad, at which measures were discussed to combat the threat of the reunification of ISIS fighters in Afghanistan.......

Finally! Is the economy responding to increased military spending as Trump ramps up. Reagan redux?Calculated RiskKey Measures Show Inflation increased YoY in JuneBill McBride

What Dugin is calling "liberalism" is the modern Western version of the liberalism of the 18th century Enlightenment, which as Marx showed is not liberalism in a universal sense but really bourgeois liberalism.  Enlightenment liberalism aka classical liberalism was devised as a rationale for the transition from feudal age that was dying to the industrial age that was being born as a result of technology and the harnessing of carbon-based energy sources such as coal and oil to drive...

Somewhat wonkish but important for those who want to understand the nuance of labor market stats.Bill Mitchell – billy blogNew Labour Account framework in Australia provides new insightsBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

President Xi Jinping has promised more than $23 billion in loans and aid to Arab states, as Beijing ramps up ties with the Middle East; this includes aid for Palestine; Beijing foresees importing a whopping $8 trillion from Arab states up to 2025. Asia TimesChina’s silky charming of Arabia Pepe Escobar