Mike Norman Economics

Assumes (tacitly) 1) that objective "fact-checking" is possible to achieve and 2) that a majority of consumers of information will deem the so-called fact-checking credible. Both of these implicit assumptions seem questionable evidential  in light of mistakes and anecdotally (based on responses when sending people to purported fact-checking sites).New words addressing this have become internet memes, like "truthiness" and "gaslighting."Liberty Street EconomicsBreaking Down the Market for...

Sunak has proclaimed, according to the BBC, “Where we are now is that the unions are asking for a 17% pay rise – and I think most people watching will recognise that clearly that’s not affordable”.Most people if they do recognise this, have, of course, been brainwashed and I’m beginning to conclude that it is remarkable that the people can be lied to and deceived with such breathtaking confidence by our ruling elite, while remaining unquestioned by the media.In fact, where we are now is that...

America is touched by a peculiar form of collective madness that sees military action as creative rather than destructive, desirable rather than deplorable, and constitutive to democracy rather than corrosive to it….Actually, the US is an empire (successor to the British empire) rather than the liberal democracy it presents itself as.The difference between America and fascist states is that in fascist states corporations are at the service of the state and in the US the state is at the...

Yves here. We trust you’ll enjoy this wide-ranging but compact interview with Michael Hudson on Lebanon’s Almayadeen TV. The topics include Europe’s de-industrialization, the Fed fighting the wrong war and hurting innocent bystanders, the rise of new power blocs, and debt....Naked CapitalismMichael Hudson Answers Questions on Europe’s Self-Immolation, Fed’s Malpractice, Changing World OrderQuestions from Almayadeen TV, Lebanon by Mohammad Itmaizeh

This article continues the previous discussion of bank net interest margins. In it, I discussed how changes in the yield curve changed the net interest margin (NIM) for banks. This showed up historically — when bank balance sheets were shattered by the combination of holding long-dated mortgages with low fixed coupons versus having a sky-high short-term rate imposed by deranged Monetarists. In this article, I address a common macroeconomic story: yield curve inversions cause recessions by...

Understand spending chains and you understand a fair chunk of Modern Monetary Theory. When the government spends into the economy it initiates a sequence of financial flows in the non-government sector. The first recipient of the spending is likely to re-spend some or all of it and subsequent recipients will do the same, and so on. That’s a spending chain.At first glance it looks as if the money will bounce around the economy forever and if that were the case the government would have to...

The 2nd African Migration Summit (AMS) has been slated for December 8, with Associate Professor, Fadhel Kaboub from Denison University, Ohio, United States of America, as the guest speaker. He is to deliver a presentation titled: “Are We Prepared For Mass Climate Migration: A Coherent Framework For Resilience And Justice.” Themed “Climatic Change, Migration And Africa’s Future,” the summit would also be chaired by Nigeria’s House of Representatives Committee Chairman on Diaspora Matters,...

In the 1990s, the West used to see its economic influence in countries like Russia as a victory and a show of Western power. This was always the correct view. Now our leaders see the exclusion of Western products from foreign markets as a victory. This is such a muddled view it is almost comical. It is the sort of view that shows how ill-prepared our leadership class are for navigating the new multipolar world....Import substitution domestically and internationally importing from friendly...

An independent system of international payments can be created based on digital currency and blockchain technologies, Russian President Vladimir Putin said on Thursday....TASSPutin calls for creating international payment system independent of interferenceAlso at TASSAbout 200 countries are assessed and Brazil, Saudi Arabia and the Republic of Korea are the three leadersRussia is among top ten countries in digitalization of public services — Putin

Can’t even make it up, dumb commie left all corrupt:https://t.co/RdJkFwkbX2— Deficit Moron (@i_deficit_moron) November 23, 2022 Here is CME guy Duffy explaining it better on Tucker this week:[embedded content]FTR I’ve never taken one dime from the FTX guy Sam Bankman Fried… can all others say this?