Mike Norman Economics

“At the moment, it’s a game of chicken with no off-ramp,” Tom Pickering, another former US Ambassador to Russia, has said. “And we need to be looking at the off-ramp.” While this piece is mostly about Russia and Putin, this observation about about China is also noteworthy: Regime change may not be being spoken of in terms of China, but the latter fully understands that it is at the top of the Bolton-Pompeo-Trump ‘hit list’, and that its standing as ‘revisionist threat, number one’ enjoys...

“Russiagate” and the Skirpal affair have escalated dangers inherent in the new Cold War beyond those of the preceding one. Playing with fire while playing politics. The irresponsibility of this is great enough to disqualify for leadership or official capacity.The NationUnproven Allegations Against Trump and Putin Are Risking Nuclear War Stephen F. Cohen | Professor Emeritus of Russian Studies, History, and Politics at New York University and Princeton UniversitySee alsoLet’s Not Fall Into...

When it comes to inequality, a growing body of evidence shows that people across countries underestimate the size of the gap between the rich and poor, including their wages. This can undermine support for policies to tackle inequality and even lead to apathy that consolidates the gap. But how exactly are existing perceptions of inequality measured by social scientists?... Irene Bucelli, of the LSE and Franziska Mager, of Oxfam GB, summarize the results from an Oxfam volunteer research...

This may go down in history as the week the mobile web became the web.On Monday, Google began indexing and ranking pages on its search engine based on the mobile versions of websites rather than the desktop ones, the company announced. The change may seem minor, but it underscores how Google views and presents the web to the world—as mobile first. "The medium is the message" — Marshall McLuhan Quartz Google has made it official: The internet is now mobile-firstAshley Rodriguez

This is the second part of my response to an article published by the German-language service Makroskop (March 20, 2018) – Modern Monetary Theory: Einwände eines wohlwollenden Zweiflers (Modern Monetary Theory – Questions from a Friendly Critic) – and written by Martin Höpner, who is a political scientist associated with the Max-Planck-Institut für Gesellschaftsforschung (Max Planck Institute for Social Research – MPIfG) in Cologne. In this part we discuss bond yields and bond issuance. I...

The purpose of this article is to show how the proposed $60B trade tariffs on China will impact macro fiscal flows and investment markets. To assess this regulatory change, a balance of sectoral flow analysis has been used (following British economist Professor Wynne Godley's work)…. Seeking AlphaImpact Assessment Of $60B China Trade Tariffs Alan Longbon

The take-away: "Negotiations must be equal, and China will not accept any consultation under unilateral coercion,” Gao said." China (and Russia) demand to be treated as equals, which would mean the US accepting multipolarity.  Is the US willing to go to the mat to maintain unipolarity? Stay tuned.ReutersChina warns U.S. not to open Pandora's Box, unleash trade ills on world Se Young Lee and Yawen Chen

Dissertation summary. Progress in Political Economy When Minsky Meets Complexity Kimberley Yoo is a PhD candidate at the University of Sydney researching computational modeling and complexity theory.

The major trends are still in effect.

Another flash in the pan.Zero HedgeKyle Bass's Bet Against The Yuan Led To 19% Loss Last YearTyler Durden