Mike Norman Economics

Having run through the Kalecki profit Equation (link to the first part of a two-part primer), I just want to make some brief remarks about how it ties into the notion of forecastability (description). Should we be able to expect to forecast the business cycle? Bond Economics The Kalecki Profit Equation And ForecastingBrian Romanchuk

If only the public knew how they were being duped by the financial sector and austerity governments. KV. [embedded content]

Banks still not pushing HELOCs... Homeowners are sitting on a record amount of cash — and not tapping it - CNBC https://t.co/f4MyCF5TwL— 美国及全球房地产投资趋势观察 (@usaregnews) July 10, 2018

The US has a similar play book for Iran. Who knew that DJT would turn out to be HRC? Well, it turns out that regime change has been US standard operating procedure at least from the G. W. Bush administration, and "color revolution" preceded that. Venezuelanalysis US Set on Regime Change in Venezuela Shannon Ebrahim See also Politico (5 May 2018)Giuliani: Trump is 'committed to' regime change in Iran Brent D. Griffiths This would have been under Bush/Cheney and carried...

Thought it was over? Cooperation with the communists has sparked outrage from many Czechs and prompted thousands of people to come out and protest against the move in June. The Czech Communist Party has maintained hardline views, unlike many other European communist parties, who have moved into the mainstream left-wing in recent years. The party is anti-NATO and totally opposed to any deployment of Czech troops abroad, including to the Baltic countries and Poland as part of NATO...

How Capitalism Really Works If you are 85 and older you still have to work. The greedy pigs haven’t bled you dry yet. https://www.sott.net/article/390315-Work-til-you-die-Record-number-of-folks-age-85-and-older-are-working-in-the-US

We will be hearing a lot of women's right and suppression of women in Iran, but women are much free there under the combination of liberal democracy and Shi'ite theocracy and the society is also more open then in Sunni-dominated countries like Saudi Arabia that follow the tenets of Wahhabism. This posts examines how Crown Prince Mohammad Bin Salman al-Saud may change that. The conclusion is probably not all that much, although any change in a rigid culture like that stands out owing to...

Ignore the establishment: Trump has a huge opportunity at his upcoming summit. Another excellent article from the American Conservative, this is about half of it. KV. The upcoming summit between Donald Trump and Vladimir Putin is an overdue opportunity for the American president’s next bold peace initiative. It is time for the U.S. to stop its wasteful wars, and Russia can be a constructive partner to this end. The mainstream press on both sides of the Atlantic will howl against...

There are obvious technological applications for GQN, but it has also caught the eye of neuroscientists, who are particularly interested in the training algorithm it uses to learn how to perform its tasks. From the presented image, GQN generates predictions about what a scene should look like — where objects should be located, how shadows should fall against surfaces, which areas should be visible or hidden based on certain perspectives — and uses the differences between those predictions...

In summary, Putin advocates national sovereignty and opposes liberal internationalism and liberal interventionism based on as another form of imperialism. The West, the reverse. More broadly, Russia is traditional while the West is liberal. This basis of the broader conflict between the East and West, Global North and Global South.  This conflict is dialectical. The economic basis is capitalism versus socialism. Both capitalism and socialism are internationalist. This...