Mike Norman Economics

Problems with pensions.  Two weeks ago, in the aftermath of the February 5 volocaust, we quoted David Hunt, CEO of $1.2 trillion asset manager PGIM, who said ignore the volatility spike, the real financial timebomb was and remains public pensions: "if you were going to look for what’s the possible real crack in the financial architecture for the next crisis, rather than looking in the rearview mirror, pension funds would be on our list."  In a brief discussion wondering what...

Here's Door #1: Here's Door #2: I'll take Door #1 please...

Let's hope Trump gives up the bluff and starts negotiating. This war would be totally pointless and is completely avoidable, says Danial Larison.  Trump made another not-so-veiled threat against North Korea yesterday: Speaking at a news conference with Australian Prime Minister Malcolm Turnbull, Trump made apparent reference to military options his administration has repeatedly said remain on the table. “If the sanctions don’t work, we’ll have to go phase two,” Trump said. “Phase two...

Neil fyi'ed this thing from the coin people... we'll never make any sense of it...The economic theory the Bitcoiners are relying upon: https://t.co/6a9uLYxrjU— Neil Wilson (@neilwilson) February 24, 2018

[embedded content] An absolutely riveting but disturbing documentary about child prostitution in Afghanistan. The English RT team go to Afghanistan and interview a pimp and his team and I couldn't believe how open and honest they were, but child prostitution with boys over the age of 12 years old is not illegal, or a blind eye is turned, in Afghanistan. Women are not allowed out, and if they do get out occasionally in the back streets, they are fully covered head to toe. Men are frustrated...

[embedded content] I was wondering whether to put this out when I saw Tom's post, American Meddling in the Ukraine, so I thought that this fits in. The US has supported fascism all over the world, toppled democratic regimes, and has perpetuated the most extreme violence and brutality to keep their fascist regimes in place. It is now supporting Neo-Nazi fascists in the Ukraine. And yet it portrays itself as the bastion of freedom, liberty, and democracy, while it considers itself the World's...

I'm sure Tom put out Part 1 on this (embedded). Here's Part 2. It's shocking, the Neocons are neo-fascists. [embedded content] However much Russiagate may annoy Trump personally, administration officials like H.R. McMaster are seizing on it to advance a militarist agenda at home and abroad. Max Blumenthal and Aaron Mate discuss

This is the first of three election reports which the author will publish in the coming month culminating in his findings as an officially invited international observer to the 18 March elections. Detailed report on all candidates except Putin, who is well-known and expected to win handily.Putin's only credible challenger seems to be Communist Party candidate, Pavel Grudinin. He is not a Communist Party member himself, but is being put forward as a unifying choice for the Left.However,...

Historians will note the tremendous irony of the United States engaging in subversion and election meddling in Ukraine that surpasses anything attempted by Russia. The ideological fissures that are growing in the United States are beginning to resemble the warring camps that characterize the Ukrainian political world. The divide in Ukraine pits groups who are described as "right wing" and many are ideological descendants of real Nazis and Nazi sympathizers against groups with a strong...

The Cold War displaced the legacies of the New Deal. Time and Trump are now displacing Cold War legacies. Where capitalism was questioned and challenged in the 1930s and into the 1940s, doing that became taboo after 1948. Yet in the wake of the 2008 crash, critical thought about capitalism resumed. In particular one argument is gaining traction: capitalism is not the means to realize economic equality and democracy, it is rather the great obstacle to their realization.... Economic...