Mike Norman Economics

She also enjoys the support of top Obama officials.  AlterNetNew CIA Director Gina Haspel Has a Long History of Pushing for Torture Jefferson Morley, AlterNetSee also While the ACLU does not take positions on nominees, we do take a strong stance against torture. Blog of Rights: Official Blog of the American Civil Liberties UnionWhat the Senate Needs to Know About Gina Haspel Christopher Anders, Deputy Director, ACLU Washington Legislative Office alsoAmerican ThinkerJames Clapper: Deep...

A motive emerges.Would difficult to impossible to get buy-in from China. That won't stop the West from trying though.It looks like the world order is crumbling.RTWest launches massive campaign to kick ‘inconvenient’ Russia out of UN Security Council – Senator

Britain is in a media frenzy over the recent poisoning of the former Russian intelligence service colonel turned British spy Sergei Skripal and his daughter in Salisbury, England. British PM Theresa May demanded that Russia explain itself, claiming that they were poisoned using a nerve agent called “Novichok” (Russian for “Newbie”) that was a product of Soviet biological weapons research. It is no longer produced and the destruction of its stockpiles has been verified by international...

Theresa May’s response is a joke. This is a woman who can’t stand up to EU shakedown artists over the mildest of disagreements in Brexit talks but can grandstand to high heaven over an incident with no evidence of Russian action. This situation is straight out of the neoconservative play book, creating a horrific incident and rushing a government into a confrontation and major policy decision. And these are happening all over the world right now. The Atlanticists are losing it over the...

All you need to know about Mike Pompeo, the four-term congressman from Kansas who is actually from California, is that most of his life he has been in business with the Koch brothers. His appointment as Secretary of State puts a seal on Trump’s withdrawal from the Paris climate accords.... Informed CommentPompeo, Big Oil and the attack on Iran Deal Juan ColeAlsoThe Anti-MediaExperts Warn Pick of Mike Pompeo Increases Odds of US Attacking Iran  Jon QueallyAlsoLobeLogPompeo: Springtime for...

The descent into farce.The HillTrump to name Larry Kudlow as top economic adviser: reportAvery Anapol

Take the test. ? (Just kidding unless you are a statistician.)Statistical Modeling, Causal Inference, and Social ScienceClassical hypothesis testing is really really hardAndrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia University

One of the more puzzling aspects of neo-classical economic theory is the assertion that profits are zero in equilibrium under the conditions that are assumed for many models. One should re-interpret this statement as "excess profits" are zero, but there are still some awkward aspects to the treatment of profits in standard macro models. This article works through the theory of profits for an example dynamic stochastic general equilibrium (DSGE) model, and discusses the difficulties with the...

Chris Dillow mentions MMT.Stumbling and MumblingThe persistence of fiscal stupidityChris Dillow | Investors Chronicle

This debunks the idea by the authors (Ben Fine and Alfredo Saad-Filho) that “underlying Keynesianism is the idea that there is a natural or equilibrium full-employment interest rate”. Keynes quotes proving the point.econoblog 101A Post-Keynesian comment on “Marx’s “Capital”‘ (6th ed.)Dirk Ehnts | Lecturer at Bard College Berlin