Mike Norman Economics

Peter Turchin equates fascism with tyranny, but I don't think that is correct. Fascism is a modern political theory, while tyranny is a political category proposed by Plato, as Professor Turchin notes. The "tyrants" of history were what now call "dictators," although the Latin term "dictator" had a somewhat different meaning classically from the Greek "tyrannos." Thus, equating fascism with tyranny as usurpation of absolute power as sole ruler involves a category error, on one hand, and it...

I can’t believe what some analysts are saying.

President Trump signed a far-ranging executive order late Monday that blocked the $117-billion hostile takeover of Qualcomm by Broadcom, a Singapore-based company, on concerns over national security. This crushed any hopes that remained in some corners of seeing what would have been the largest tech deal ever. But the order was far broader: It blocked all such deals.... Wolf StreetTrump’s Order Stops ALL Foreign Takeovers of Large US Tech CompaniesWolf Richter

China is planning to merge its banking and insurance regulators, and create a national markets supervision management bureau, in parliament documents released on Tuesday. It will also transfer some of the banking and insurance regulators' roles to the central bank, documents showed. Plans also include forming a powerful new competition regulator in a bid to ramp up oversight of mergers and acquisitions and price-fixing. CNBCChina plans new ministries and merger of regulators in massive...

In a surprise announcement, Republican Rep. Mike Conaway - who has been overseeing the committee's probe into whether or not Trump and his associates colluded with Russia - said that the committee is closing its probe with the conclusion that there was no collusion, as President Trump has insisted all along: Zero Hedge - House Intel Committee Ending Russia Probe, Says No Collusion Found; Trump Responds

Contractors. Contractors are proliferating in military and para-military roles. William Craddick explores the question, who is contracting them. Disobedient MediaAre Syria’s Russian Mercenaries Really Working For Putin Alone? William CraddickAlsoSputnik InternationalMoD: Russia's Newest Hypersonic Missile Capable of Destroying Aircraft CarriersalsoThe National InterestRussia Just Fired a Hypersonic Missile from a MiG-31 Fighter. Should America be Worried?Russia's Most Lethal Nuclear...

Offered without comment.Zero HedgeMan Cited As Trump's "Russian Link" Actually Works For The FBITyler Durden

"Liberalization," Saudi style.Zero Hedge"His Body Was Badly Swollen" - Chilling Account Of Death, "Coercion And Abuse" At The "Riyadh Ritz-Carlton" Tyler Durden

As promised not long ago, here a short paper on the history of central banks presented at ASSA meeting in Philadelphia. The paper is short, given the submission policy. It discusses the growing literature on the origins of central banks, and essentially disagrees with Charles Goodhart, who is the authority on the topic.…  The point of the paper is that early public banks (essentially Italian and Dutch banks that preceded the the Swedish and English central banks) were central banks because...

Looking for a breakthrough in developing and scaling disruptive technology. Which would/will be more disruptive for the status quo, fusion or AI? We are already seeing how disruptive the Internet and social media have become to elite control of the political narrative.MIT NewsA new era in fusion research at MIT Francesca McCaffrey | MIT Energy Initiative AlsoJust a matter of time?OilPriceThe New Atomic Age: Nuclear Fusion And BeyondGary Norman | South-East Asia & Pacific...