Mike Norman Economics

So what are the problems according to Blanchard and Summers? In their view, “the events of the last ten years have put into question the presumption that economies are self stabilizing, have raised again the issue of whether temporary shocks can have permanent effects, and have shown the importance of non linearities.” Only mainstream macroeconomists could possibly have thought that capitalism is self stabilizing. The rest of us—who have read Marx and Keynes as well as the work of Robert...

According to the late Bill Campbell, who established a reputation as the "coach" of Silicon Valley, only one thing determines whether or not you're a leader: the opinions of those you're supposed to be leading.…[Former Apple CEO John] Sculley shared one of the best pieces of advice Campbell ever gave him: "Your title makes you a manager. Your people will decide if you're a leader, and it's up to you to live up to that."... "Basically, how you make that happen is if you believe that...

Hyman Minsky goes to China. China will fend off risks from excessive optimism that could lead to a "Minsky Moment", central bank governor Zhou Xiaochuan said on Thursday, adding that corporate debt levels are relatively high and household debt is rising too quickly. A Minsky Moment is a sudden collapse of asset prices after a long period of growth, sparked by debt or currency pressures. The theory is named after economist Hyman Minsky...."If there are too many pro-cyclical factors in the...

John Brennan doubles down and insinuates that some connected with Trump colluded with "the Russians" in the "fake news" campaign that purportedly cost HRC the election, since "the Russians" would have need direction about targeting vulnerable states.Reaching for straws.Raw StoryFormer CIA director says it’s ‘implausible’ that Russians didn’t meddle in our election without American help Sarah K. Burris

Defending the periphery of the empire while also attempting to extend it.SouthFrontU.S. Says Syrian Government Will Never Have Foothold In Raqqa, Acccuses Damascus & Allies Of Hindering Efforts To Liberate City once_again1 ABCNewsNetanyahu says Israel won't tolerate Iran presence in Syria Associated Press Newsweek U.S. Sanctions On Russia Won’t Be Lifted Until Crimea Is Returned To Ukraine: Rex Tillerson Graham Lanktree Russia InsiderJohn McCain's Plan to Fuel More Bloodshed in...

Even former Clinton political strategist Mark Penn has acknowledged the absurdity of thinking that such piddling amounts could have any impact on a $2.4 billion presidential campaign, plus all the billions of dollars worth of free-media attention to the conventions, debates, etc. Based on what’s known about the Facebook ads, Penn calculated that “the actual electioneering [in battleground states] amounts to about $6,500.” In a Wall Street Journal op-ed on Monday, Penn added, “I have 40...

Finally figuring it out. The net debt of the non-financial components of the Shenzhen 300 Index is heavily concentrated in a dozen or so companies, all of which contribute to basic energy or transport infrastructure. A full 10% of the net debt of non-industrial SHSZ300 companies is owed by Petrochina alone. This suggests that a great deal of Chinese corporate indebtedness should be viewed as “public works” investment by the Chinese sovereign. There certainly are aspects of the increase...

Overall, the prognosis for Xi Jinping and his successors being able to deliver on the monumental promises made in today’s speech, seem surprisingly doable. China has shown the world that it can make the difficult happen with speeds that shock many sceptics and with an exactitude that confounds students or previous rising economic giants. In this sense, it is not at all beyond the scope of reality that a 3.5 hour speech, may shape the next 100 years of Chinese and world history. Marx and...

Back to business as usual. Nothing accomplished other than a lot of hassle. TripleCrisisThe De-Digitisation of India Jayati Ghosh | Professor of Economics at the Centre for Economic Studies and Planning, School of Social Sciences, at the Jawaharlal Nehru University, in New Delhi

Socialism with Chinese characteristics has entered a new era. The CPC has given shape to the Thought on Socialism with Chinese Characteristics for a New Era, a long-term guide to action that the Party must adhere to and develop. The Thought builds on and further enriches Marxism-Leninism, Mao Zedong Thought, Deng Xiaoping Theory, the Theory of Three Represents, and the Scientific Outlook on Development. It represents the latest achievement in adapting Marxism to the Chinese context.......