Mike Norman Economics

Speaking with EuroNews, Russia's ambassador to the EU, Vladimir Chizov, said "Russian military specialists have visited this region, walked on those streets, entered those houses, talked to local doctors and visited the only functioning hospital in Douma, including its basement where reportedly the mountains of corpses pile up. There was not a single corpse and even not a single person who came in for treatment after the attack." "But we've seen them on the video!" responds EuroNews...

So the president will be advised by television, social media, and John Bolton. Hmm. Hardly seems like HRC could do any worse. Deputy national security adviser Nadia Schadlow has resigned, as new national security adviser John Bolton seeks to reshape his team. Schadlow is the third high-ranking national security official to exit or be pushed out of the White House since Bolton took over on Monday.... National Security Council spokesman Michael Anton and homeland security adviser Tom...

The retired conservative leader is taking a potentially lucrative board seat at Acreage Holdings, a company that exemplifies the shockingly rapid speed with which old-school c-suite capitalism has come to dominate a legalization movement once framed in utopian little-guy bootstrapper terms.… It’s fitting on several levels that Boehner, who publicly insisted he’d never come around on legalization for years, chose to flip the table over at this time and in this way. The weed business has...

Public transport, child care and hospitals were all hit by strikes in several major cities on Wednesday, as workers’ union Ver.di upped its campaign for a pay hike for public workers. The Local/GermanyMillions affected as massive nationwide strikes continue into second day

There are some people who like to suggest that modern monetary theory (MMT) suggests that a government can create money without limit. They go on to say that this has always resulted in economic disaster. The words Zimbabwe and Weimar Republic are never far from their lips. The reality is, however, that MMT does not say that governments can create any amount of money they like without limit. What it does say are two things. The first is that as a matter of fact all government spending is...

Cui bono? Following the money. As that Reuters list makes even clearer than before, US economic sanctions against Russia are focused against mainly the following four categories of targets in Russia: Russian competitors to America’s largest international oil companies.… Russian competitors of Lockheed Martin and other international US weapons-firms... Russian banks that lend to those firms... Russian Government officials, and billionaires, who cooperate with Russia’s elected President,...

There is no purpose in a military attack on Syria other than to attempt to help the jihadists overthrow Assad. Recall that all this began when Zbigniew Brzezinski convinced Jimmy Carter to arm and support jihadis in Afghanistan to draw Russia into a quagmire. Since then, the US has been caught in the quagmire itself. Here go for more. The crazies still have not learn their lesson. Craig Murray BlogThe Four Horsemen Gallop By Craig Murray, formerly British ambassador to Uzbekistan and...

The House is set to take up a balanced budget amendment this week, which would limit federal spending in each fiscal year to federal receipts in that year.Like the push toward war isn't crazy enough for the crazies. This is like playing Russian roulette with all the chambers loaded. Republicans currently control both houses of Congress and the presidency. They could balance the budget if they wanted to. Instead, they have shown themselves more interested in cutting taxes for the rich....

Knowledge flow.It is important to note that knowledge is a free good. The arrangement of words in books can be copyrighted, but not the knowledge they convey.However, the application of knowledge can be limited by making it "proprietary." In the past, many processes have been kept secret. e.g., transmitted in families. In contemporary times, processes for applying knowledge may be fenced in, at least for a time, with intellectual rights to processes such as patents.The IMF looks at the...

The US Democratic Party has lost its right, in my view, to attract the progressive vote.The CBO Report, which I will discuss in technical terms tomorrow, really just estimated that the latest policy shift under Trump will increase the US fiscal deficit and public debt ratio. The main game should have been on debating whether the the composition of the US fiscal deficit was beneficial to all Americans or not, rather than running a hysterical political response about the need to cut deficits...