Mike Norman Economics

Correlation is not causation, inverse or otherwise:Just a reminder of how bank liquidity and the size of central banks' balance sheets have been unrelated (or maybe inversely correlated!) to the rate of inflation. pic.twitter.com/a8GPHrYFDD— Andrea Terzi (@ndrea_terzi) May 23, 2018

Giggling like teenage girls over the dollar.

The Syrian Foreign Ministry has accused the US-led international coalition of deliberately bombing Syrian oil wells so that the government loses crucial energy infrastructure. “They did it so that we have to pay tens of millions of dollars to restart work in these fields,” the Syrian Deputy Foreign Minister Faisal Mekdad stated.... Meanwhile, representatives of the Russian Center for Reconciliation and the Syrian military have found in the eastern part of Homs province warehouses with...

Interesting quote from Joan Robinson.The Case for Concerted ActionContrasting Joan Robinson And Paul Krugman’s Views On The Global Rules Of TradeV. Ramanan

Kudrin’s reversal reveals the degree to which the balance of power in Russian politics has changed decisively against the party of capitulation, and in favour of the Stavka, the combined forces of the Defence Ministry, General Staff, the intelligence services, and the military-industrial complex.… The Atlantic integrationists are out and Eurasian nationalists in. (While JH doesn't mention it, China is the big beneficiary.) Dances with BearsALEXEI KUDRIN MAKES PROSTRATION SPEECH FOR...

Chris Dillow is writing bout the dialectical approach in contrast to the categorical approach and apparently doesn't realize it even though he is a Marxian economist. What is is saying is to adopt the principle of rational inquiry in one's own thinking by critiquing oneself and becoming one's own interlocutor and devil's advocate. This is fundamental to critical thinking, in contrast to dogmatic thinking, for example.Stumbling and MumblingRationalism, rationality & reasonablenessChris...

Bill clarifies the MMT position on trade for those who haven't gotten it yet. It is very clear and concise. Anyone that still doesn't get it after reading this doesn't want to get it.Must-read — and study. It's the MMT elevator speech on trade.Bill Mitchell – billy blogA surplus of trade discussions Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, AustraliaSee alsoBond EconomicsOn The "Everyone Cannot...

Well yeah but look at LAST quarter... revealing chart.  That Trump tax INCREASE of Janurary 1 was not well thought out.  Might have well screwed up this entire year...Banks convince lawmakers to pass massive bank deregulation, despite record earnings https://t.co/ymXk2tfG4T— Rita Robison (@BoomerGuide) May 23, 2018

If Dr. Cohen has any objections to the factuality of any of the allegations that I have made here, or to any of the documentation that I have linked to as the sources for these allegations, then I publicly welcome him to state what those objections are. Otherwise, I shall continue to take strong exception to Dr. Cohen’s account of these matters. Fair enough.Washington's BlogStephen Cohen’s Misrepresentations About the 2014 Coup in Ukraine Eric Zuesse

There will be a big impact from this and you need to know.