Mike Norman Economics

How (logically) could she have been "the Roman goddess of money" when the English language figure of speech word "money" is itself a transliteration of her name in the first place???Impossible for her to be "the Roman goddess of money!".... “Slave Profits”, the recycling of the Roman goddess of money as a mulatto, the Goddess Moneta. The slaves toiled while she got the money. pic.twitter.com/D03S9qHVFk — Onlyindreams (@OnlyindreamsFCO) May 25, 2018

What China is up to.Tom LuongoPetroyuan is Only the Beginning, Pop Goes the Metals Market

Wandering the streets of Shanghai to admire the architecture, the head of one of the largest U.S. consumer banks recently found himself surrounded by a gaggle of teenagers.Entranced by their phones, they hardly made way for the banker. The teens were messaging, shopping and sending money back and forth, all without cash. Instead, they were using Alipay and WeChat. The scary thing for the American: Banks never got a cut. The future of consumer payments may not be designed in New York or...

More philosophy of economics, or foundations, if you prefer. Good read if you are into this. It runes along the lines of what amateur economist and working physicist Jason Smith has been saying about foundations.J. W. Mason's BlogThe Wit and Wisdom of Trygve HaavelmoJW Mason | Assistant Professor of Economics, John Jay College, City University of New York

It appears that Bolton was still pushing the idea within the administration earlier this month. The Washington Free Beacon reported on May 10 that a three-page paper outlining a regime-change strategy from a small far-right organisation called the Security Studies Group, with which Bolton is said to have close ties, was circulated among NSC officials. The quotes from the paper in the story make it clear that the strategy is based largely on seeking to exploit ethnic and religious conflicts...

The partnership between Facebook and the Atlantic Council is an attempt to ensure the grip of dominant imperialist powers – militaries, multinationals, banks, and philanthropists – who feel threatened by the unrestricted flow of information and anti-systemic narratives on social media. It's all about who controls the narrative. The Internet and social media are threatening elite control and they are now attempting to re-consolidate control. If you don't know know who the mark is, you are...

In my latest book, The Value of Everything, I have argued that such critiques are important but will remain powerless – in their ability to bring about real reform of the economic system – until they become firmly grounded in a discussion about the processes by which economic value is created. It is not enough to argue for less value extraction and more value creation. First, ‘value’, a term that once lay at the heart of economic thinking, must be revived and better understood.Value has...

This is Part 3 (and final) of my mini-series analysing some of the challenges that the newly elected majority government in Timor-Leste faces. In Part 2, I discussed the progress of the Strategic Development Plan and the challenges ahead in terms of poverty, unemployment, and other indicators relating to the development process. In Part 2, I focused more on the currency debate – documenting how the IMF and World Bank had infused its ideological stance into the currency arrangements that...

Raising interest rates HURTS your currency. They just don’t get it!!

Fixing their potential (to them) bankruptcy problem due to having to potentially pay an IOR amount that would be higher than their portfolio income amount.  Looks like they are going to actually codify a new Fed policy whereby they must run the IOR at ALWAYS a rate somewhat below their FFR; insuring they will always have enough net portfolio income to both pay the IOR and operate their Federal Reserve System: Separately, Fed policy makers backed potentially making a “small technical...