Mike Norman Economics

My reading of the consensus view is that the change in personnel at the Federal Reserve has coincided with a more hawkish outlook, although the tax cut presumably helped push matters. I do not have a strong reason to disagree with such a view; the Fed is probably going to revert back to its historical policy of gradualism -- which was a 25 basis point hike per meeting.... Bond Economics Back To GradualismBrian Romanchuk

I was brought up on a council estate and it was bit rough. I remember being set upon a few times by gangs when all alone. You look around you and you see that you're encircled and that there is no escape. First they start with the verbal abuse, then one of them starts laying into you before all of them do. I was lucky, after a few punches I would be on the floor defeated and then they would give up after that. The next day I would be okay apart from some bruises and a cut or two.Being picked...

Sunday reading. LobeLogUnipolar Strategy in a Multipolar World Paul Pillar Une parole francheMissile-gate Gilbert Doctorow | European Coordinator of The American Committee for East West Accord Ltd.Russian and Eurasian PoliticsPutin’s ‘Missile Speech’: Butter, Guns, and Security Discourse Gordon M. Hahn, Expert Analyst at Corr Analytics, http://www.canalyt.com and a Senior Researcher at the Center for Terrorism and Intelligence Studies (CETIS), Akribis Group, www.cetisresearch.org....

>50% of all steel, cement, nickel, and copper goes there Visual Capitalist China’s Staggering Demand for Commodities Jeff Desjardins See also 18 Cognitive Bias Examples Show Why Mental Mistakes Get Made

Last week, Eurostat released it updated data covering people who are at risk of monetary poverty. In the press release/news page (February 26, 2018) – Almost half the unemployed at risk of monetary poverty in the EU – we learn that 48.7 per cent of unemployed persons in the EU “were at risk of poverty” in 2016, even “after social transfers” were taken into account. The situation has deteriorated significantly since 2005 as a result of the impacts of the GFC and the policy response taken by...

Collapse of center left risks destabilizing Continent’s politics. Neoliberalism takes over. Center left folds. Populism rises. Outcome unclear. Politico.euWho killed European social democracy?Matthew Karnitschnig

Different wrestling styles way a lot about different cultures.Asia TimesChinese vs Western wrestling: same impulse, different execution Dr. Antonio Graceffo, economics researcher and university professor in China

This is a book review, but it is also a short summary of economic geography. For example, David Harvey is geographer that applies Marxian economics to geography, even though many likely think of him as being an economist.Geography is important, but most macroeconomists don't know much about it because it has not been integrated into the curriculum, so economists don't study it. Same with history. But economics is very much influenced by location (space) and period (time). There’s a section...

In a previous essay, I announced a new concept of the invisible hand to replace the old and erroneous idea that the pursuit of self-interest robustly benefits the common good. The new version is based on examples of the invisible hand that exist in nature, such as cells that benefit multi-cellular organisms and social insects that benefit their colonies. These lower-level units don’t have the welfare of the higher-level units in mind. They don’t even have minds in the human sense of the...

He got that right. Monumental strategic blunder, although I would argue that escalating in Vietnam was probably a worse blunder.The HillTrump hits Bush: Invading Iraq 'the single worst decision ever made'Max Greenwood