Mike Norman Economics

Jesse Ventura disturbed me once when he said he was now a libertarian, then he added he was a socialist libertarian which calmed me down a bit but he seemed to be talking to libertarians quite a lot. Anyway, everything is okay now because he says he will run for president in 2020 as a Green Party candidate. Sounds great. By the way, Ray McGovern voted for the Green party too, what a great guy!Jesse Ventura says Trump lied and then filled his party with even more creatures from the swamp. He...

The low down on John Bolton, and it is really low down – as in bottom feeder. Here we go again. Moon of AlabamaCountdown To War On Iran bSee alsoExposé. Bolton again.TruthdigTrump Team May Be Focusing on Odd, Obscure Iran Plan Max Blumenthal

Effect of the Jan. 1 tax changes... The tax regime signed into law in December by President Donald Trump requires American-based companies to pay tax on money they’ve stashed outside the U.S. The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years. Previously, companies had to pay 35 percent, but only if they brought the money back to the U.S. Apple leaves overseas cash out of its latest quarterly...

RT‘Goodbye Europe!’ Der Spiegel Depicts Trump as Middle Finger Flipping Off EU Amid Iran Deal Tensions

The point of the material cited in the post is the ripeness of the precariat politically for the left.  My sense is that the precariat is also ripe for the right and that is the probable direction given the rise of nationalist populism globally in reaction to the consequences of neoliberal globalization for most people other than the top quintile, with the bulk of the gains going to the top 0.01%.  So far the so-called left seems splintered, fractured and in disarray in comparison...

With all the tired and plain wrong critiques of economics out there that are easily shot down by even the most critical student of economics, I thought I'd try my hand at writing at one that might pass muster. I did write a book, but it was more aimed at taking a new direction; this will be a more specific critique. First, let me avoid the common mistake of using the word "economics" but then exclusively talking about macroeconomics: my critique is being leveled at macroeconomics (macro)....

[embedded content] I always thought Peter Joseph was very Utopian, but I admired him because he will go on any show with any host and defend his system wholeheartedly, he even was interviewed by Alex Jones who did his best to find common  ground. Cenk Uygur interviewed him and did his best to agree with him but couldn't really understand how his system would work. Well, I can't help it, every time I listen to Peter Joseph my heart lifts.Peter Joseph says how the work place is very...

Some steps have already been taken. We see new financial structures outside US control beginning to emerge, such as the Asian Infrastructure Investment Bank and the petro-yuan. Already financial journalists are speculating that the US decision to renege on the Iranian nuclear deal will strengthen the latter. I tend to the view that such developments are an inevitable part of the global shift in economic power. As the US declines in relative economic terms, its grip on international...

But there is irony in this [false flag] action. Israel used a ploy that Hitler's Nazi Germany wielded. Hitler and the Wehrmacht were keen on coming up with a casus belli for war against Poland. I grant you that the Nazi invasion of Poland is in another league from what Israel did in Syria against Iranians. But we should not ignore the possibility that Israel's unprovoked attacks are likely to spawn future retaliation by the Iranians. When that happens Israeli leaders will be under pressure...

This paper discusses the Marxist and Marxisant versions of the FH and argues that they misconceive the actual workings of modern capitalism leading to an explanatory blind alley. The spectacular ballooning of the financial system during the recent decades of weak profitability and accumulation does not constitute a new epoch, let alone a new capitalism. Instead it constitutes a well-known capitalist reaction in periods of weak profitability. This does not preclude the proliferation of new...