Mike Norman Economics

Western airstrikes against President Assad were 'unjustified aggression' and a 'clear violation of the international laws', Syrian Church leaders have said. In a joint statement the heads of three major churches said they 'condemn and denounce the brutal aggression' and denied the Syrian army either owned or had used chemical weapons.... Christian Today (UK) Syrian church leaders blast 'brutal' and 'unjustified' airstrikesHarry Farley

So, I’ve changed the description of this blog’s perspective to socialist. I haven’t however, adopted the formulation “democratic socialist” which was used, in the 20th century, to emphasise a rejection of the Stalinist claim to have produced “actually existing socialism” in the Soviet Union and elsewhere. That’s no longer necessary. As has been true for most of the history of the modern world, the only serious threat to democracy is now coming from the right. So, it’s important to defend...

Now Goldman has killed it.... First-quarter revenue at the Wall Street firm rose 25% from a year ago to $10.04 billion. Profits of $2.83 billion, or $6.95 a share, were up 26%. Both figures beat analyst expectations. The $2.83B gets back already over half of the $5B hit they took due to the Jan 1 tax law changes... in just this one quarter.  They should get it all back and then some by end of June at this rate.That Jan 1 markdown was probably over $30B system wide but we have seen this...

Over the last few years, it is clear that Modern Monetary Theory (MMT) is achieving a higher profile and the attacks are starting to come thick and fast. I see these attacks as being a positive development because it demonstrates that recognition has been achieved and a threat to mainstream ideas is now perceived by those who desire to hang on to the status quo. Hostility and attack is a stage in the process of a new set of ideas becoming accepted, ultimately. Clearly, some new...

I would say the opposite... we need to keep an eye on this...Trump's currency tantrum dooms the dollar https://t.co/WWy1JUUDvo via @bv pic.twitter.com/RGDL1YLsl2— Bloomberg Economics (@economics) April 17, 2018

China has activated new intermediate and long-range missiles capable of precision strikes on medium and large warships. The domestically developed missiles, which were recently used by a missile brigade of the People's Liberation Army's (PLA) rocket force, is capable of nuclear counterattacks, and marks a further development of Chinese artillery's combat capabilities, the China Central Television (CCTV) reported Monday. It is capable of precision strikes on medium and large targets on...

Mass unemployment, wage stagnation and growth of communism could come from technological advances  Karl agrees: The mode of production of material life conditions the general process of social, political and intellectual life. It is not the consciousness of men that determines their existence, but their social existence that determines their consciousness. At a certain stage of development, the material productive forces of society come into conflict with the existing relations of...

If you care to search for Robert Fisk on twitter, the attacks on his reputation and integrity at this very moment from achieve nothing neo-con trolls and media lackeys are astonishing. He is in Douma – they are at their desks.It also says a great deal about our media that one of the greatest living British journalists is employed only by The Independent, a newspaper which has become extremely marginal, while other genuine greats like Jon Pilger, with a fantastic pedigree, do not have access...

Syrian air defense systems have been activated in response to a missile attack apparently targeting Shayrat Airbase in Homs province, state media SANA reports.Up to 10 missiles were destroyed by the Syrian Armed Forces, a military source told Sputnik. The Syrian air defenses managed to intercept some of the projectiles, according to a SANA reporter. Meanwhile, the Al Mayadeen news outlet is claiming that all the projectiles were intercepted and inflicted no physical damage or casualties at...

Look at how disgusted the news anchor is when the congressman being interviewed says he doesn't understand why Assad would launch a chemical weapons attack when he was winning the war and it would draw the US in even further.  She says, 'So you believe the Russian?', with anger, as if you can't question the script, even if it is full of holes. [embedded content] A congressman actually dares to question the officially sanctioned fake news narrative about the Syrian chemical weapons attack...