Mike Norman Economics

Ha!  President or wtf of Canada: U.S. government borrowing is not sustainable and divisive social policies will ultimately exacerbate tensions that will disrupt American business profitability, Canadian Prime Minister Justin Trudeau said.  Asked in an interview how his government will respond to competitiveness concerns spurred by U.S. tax cuts, Trudeau said Canada is focused on generating long-term economic growth and wouldn’t engage in a “race to the bottom.” “I certainly know that I...

A special commission report on foreign meddling in the 2018 presidential election has been unveiled in Russia’s Upper House. The document highlighted the main methods of the elaborate campaign, spearheaded by the US.The report, presented on Wednesday in Russia’s Upper House (the Senate), was prepared by the Commission for State Sovereignty Protection in cooperation with leading experts and analysts. The publicly available document was presented by the head of the commission, Senator Andrey...

I decided to write an extended blog post today (Wednesday) because events in Italy are so interesting. My usual short post on a Wednesday will resume next week. George Soros is now saying that “everything that could go wrong has gone wrong” in Europe and a financial collapse is in the wind (Source). I doubt the latter but agree with the former assessment. All the flaws in the original neoliberal design of the Eurozone have been revealed and all the reasons why those flaws were created in...

Although highly unstable there are 2 extremely powerful things holding it together.

Yesterday brought the launch of a new and revised edition of Doing Capitalism in the Innovation Economy by William Janeway. Anybody who read the first (2012) edition will recall the theme of the ‘three player game’ – market innovators, speculators and the state – informed by Keynes and Minsky as well as Janeway’s own experience combining an economics PhD with his experience shaping the world of venture capital investment. The term refers to how the complicated interactions between...

Professor Roger E. A. Farmer has written Prosperity For All: How to Prevent Financial Crises, in which he lays out the case for creating a sovereign wealth fund whose objective is to stabilise financial markets. If we can eliminate financial crises, we can avoid the rise in unemployment that results. Although that is an interesting concept, I was highly skeptical about the idea before I read the book -- and my skepticism remains after reading it. Instead, the discussion of macro theory...

Despite the harmful effects of the ECB asset purchases to their biggest bank.... still down to 5.2%. #Germany marches on: German unemployment rate falls to record low of 5.2%. pic.twitter.com/PrF9Llejpd— Holger Zschaepitz (@Schuldensuehner) May 30, 2018

In his final report in a three-part series, Guccifer 2’s West Coast Fingerprint, the Forensicator discovers evidence that at least one operator behind the Guccifer 2.0 persona worked from the West Coast of the United States. The Forensicator’s earlier findings stated that Guccifer 2.0’s NGP-VAN files were accessed locally on the East Coast, and in another analysis they suggested that a file published by Guccifer 2.0 was created in the Central time zone of the United States. False flag...

The rising scholar of taxation and inequality talks to ProMarket about the problems excessive economic power poses for open political systems, how states can tackle profit-shifting, and critics who have dismissed his work on distributional issues as “a French economics.” ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessGabriel Zucman: “Some People in Economics Feel That Talking About Inequality Is Not What Economists Should Be Doing”Samantha...

"Them's fighting' words."China responds to President Trump's gonzo policy making.Trade war in the cards? Or is this just part of the negotiating process?Whatever, it's further evidence that America cannot be trusted to keep its word.ReutersChinese state media slam U.S. trade announcement, say Beijing ready to fightSee also China will double down to make breakthroughs in core technologies, Chinese President Xi Jinping said on Monday as he urged the country’s top scientists and engineers to...