Mike Norman Economics

The Economist: Humanity teeters on the brink of world war When will the Western electorate wake up the what's going on? KV James Cogan The Economist magazine, the influential London weekly described by Karl Marx over 150 years ago as the “European organ” of the “aristocracy of finance,” has devoted its latest issue to discussing “The Next War” and “The Growing Threat of Great Power Conflict.” Its lead editorial opens with a chilling warning: In the past 25 years war has claimed...

Have you seen this, it's about the Neocons. I don't know if the BBC would make such a documentary today. It's really good. [embedded content]

Mentions Stephanie Kelton. In addition to trying to set up a framework to understand these phenomena for the future book, I also saw a tweet from Stephanie Kelton talking about the downward revisions of potential RGDP and potential NGDP both in level and growth rate [3]. She thinks that 2% growth going forward is too pessimistic -- saying we can get 3% growth. Now the model above says that the dynamic equilibrium is 2.4% (so I'd agree that 2% growth is a shade pessimistic, see [3]).But...

Lawrence Freedman, emeritus professor at King’s College London [said], “the main concern is clearly not wanting to upset Russia more.” Au contraire. I suspect that the biggest reason — and one that no one in the US government will talk about above a whisper in a secure room — is that the US is one the verge of losing Europe and either the president has figured this out for himself or he is being told by his advisers. The US is also losing global leverage based on soft power. The US must...

“The President has committed, as a matter of strategy, that we will not leave Syria. We are not going to declare victory and go. And that is not my opinion; that’s the President’s strategic judgment. We’re going to stay for several reasons: stabilization and assistance in the vital north and northeast, protection of our allies the Syrian Democratic Forces, who have fought so valiantly against ISIS in the northeast, try to work to help transform the political structures in that area to a...

When US meddles in others people's elections, which is all the time, it's for their own good Same with regime change operations, including coups, even if it involves installing brutal dictators and dictatorial regimes like the Shah in Iran and Pinochet in Chile.Russia InsiderAmerica's Democratic Hacking Is Totally Unlike Russia's, China's Undemocratic Hacking - Ex-Pentagon ChiefAlexandre Antonov

The BBC attempts to whitewash a murder. Warning: This story includes Adams' photo of the moment of the shooting, and graphic descriptions of it. It was an execution but war justified it, you see.The article laments that the murder's career was (almost) destroyed by it.Reminiscent of the many years of British colonialism, and why the Brits became hated even by their close neighbors, the Irish, who were also colonized. (Disclosure: I inculcated in the details of this as a child by the Irish...

Corporate media initiates "self-censorship" since government censorship is illegal.  The result is the same and few believe that the move is self-initiated.Disobedient MediaFacebook Cracks Down On Independent Media, Under Guise Of ‘Enhancing Relationships’Elizabeth Vos

Let me conclude that while I agree with Dean that lowering the value of the dollar may will certainly tend to increase the quantity of exports and lower the quantity of imports as well as tend therefore to increase employment somewhat, this does not mean that I necessarily support a "talking down the dollar" policy. One obvious problem, mentioned by Summers, is that a too obvious and aggressive such nationalist policy is likely to call forth retaliation from other nations, just as an...

The Tories say we need to save money. Hmm, but they gave it to all their banker friends who stashed it in the Caiman islands. The public is duped again by a complicit press which is owned by the One percent. Chunky Mark talks about 'bankrupt Britain'. Well, over 40 years of neoliberalism, AKA Thatcherism, or Monetarism,   - this wonderful new economic system dreamt up by the Conservatives - and we are busted as usual. KV A campaign group backed by Professor Stephen Hawking has been granted...