Mike Norman Economics

Hyman Minsky’s financial theory of investment rests on a bifurcation of an economy’s price systems. On the one hand, there’s the price system for goods and services. And inflation here is what central banks look to hold in check. But at the same time, there is a wholly separate price system for assets. And it’s here where stability leads to asset price inflation, a build up in debt, instability, and, eventually, crisis. Economics professor Randall Wray is a real Minsky scholar. He studied...

PPP rather than GDP. Purchasing power parity calculations of GDP attempt to measure all the goods and services produced by a country with a common set of prices. This means we add up all the cars, tables, haircuts, knee surgeries etc. produced in both the U.S. and China, and assume that each item costs the same in both countries. According to the projections from the I.M.F. China's GDP is already 25 percent larger by this measure and will be almost 50 percent larger by the end of the...

A young Syrian man telling the truth about Syria exposing Western lies. A really nice guy; see how easy going, friendly, and modern he is, just like most young people in the West? But his secular society is surrounded by the some of most evil people on the planet backed by even more of the most evil people on the planet, the criminals that run the US, Europe, and Israel.And what's so strange is that hardly anyone in in the West knows the truth, or that our media is Orwellian spewing out...

Richie Allen, like me, was outraged at the UK Parliament Prime Minister Questions Time where Theresa May and Boris Johnson accused Russia of the Salisbury poisoning. Richie Allen says that the British parliament is full of traitors as 80% of them are Zionists and their allegiance is to Israel, not the British people. This broadcast is only 20 minutes wrong. This is what I wrote in the comments section. To see all these lies makes me feel sick. The British public must be stupid to think...

I thought this is good. I like this guy, it's a shame that more ordinary people don't take an interest because if they did we could stop these wars. Robert Inlakesh says that Assad is not bombing his own people as our leaders and the media are saying, and that the video footage that is being shown is of Israel bombing Gaza. Robert Inlakesh has been receiving death threats.This world is far more wicked than I ever realised. I thought there was at least good guys as well as bad guys, and that...

Lots of volatility this week.

“At the same time, we are concerned about the negative impact as you consider remedial actions under Section 301 of the Trade Act could have on America’s working families,” the letter stated. “Applying any additional broad-based tariff as part of a Section 301 action would worsen this inequity and punish American working families with higher prices on household basics like clothing, shoes, electronics, and home goods.”... ReutersLarge U.S. retailers urge Trump not to hit China with tariffs...

Bad title, which the author corrects in the article. Neoliberalism is a political theory rather than an economic theory. Neoclassical economics is an economic theory. The tile contains a category error. The most important thing to understand is that neoliberalism is a post-war political movement that grew out of the Mont Pelerin Society, a thought collective that formed a consensus not to put the market at the centre of the state, but to take it over completely. Its entire objective is to...

Nothing will say more about who we've become as a nation than if a torturer is allowed to head the CIA. Sums it up. It's bad now, and her nomination makes it worse. But her confirmation and occupying office would be the icing on the cake.Kills US soft power. It's a gift to enemies of America, too.The American ConservativeGina Haspel: As If Nuremberg Never HappenedPeter Van Buren, 24-year State Department veteran

In the crosshairs? Not just Brennan either. None of the leaking, unmasking, surveillance, or other activities directed against the Trump campaign can be properly understood, if one does not bear in mind that it was considered a sure thing that Secretary Clinton would become President, at which point illegal and extralegal activities undertaken to help her win would garner praise, not prison. But she lost. The "perfect crime" that wasn't. Now "the gang that couldn't shoot straight" is...