Mike Norman Economics

[embedded content] Ukraine’s Naftogaz and the Kiev administration have been praising themselves as victors after nearly four years of litigation against Russia’s Gazprom and the long-term gas contract signed in 2009. This legal adventure finally ended through arbitration in Stockholm this past Friday. Ukraine proudly declared themselves the winners as they narrowly escaped what could have been a national default. In truth, the Stockholm judgment does not look like a win for Naftogaz,...

An interesting  documentary about greed, happiness, Buddhism, and eternal life. Is our capitalist way of life making us happy, it seems for many, maybe not? Even with lots of possessions many people are still not fulfilled and keep on buying more things to get that short lasting thrill.But are we trying to bury the thought of our deaths when we buy more and more stuff we don't need, or when we are always desperately trying to have more fun? The documentary says how we feel spiritual but it...

Given its own policies, and those of the US, China is on track to become the world’s innovation leader. By the end of 2018, it will likely be apparent to all just how quickly and easily this latest chapter in the Chinese success story will be written. China poised to leapfrog the West? Project SyndicateChina, the Innovation Dragon Simon Johnson, former chief economist of the IMF, is a professor at MIT Sloan, a senior fellow at the Peterson Institute for International Economics, and...

The Saker is pessimistic. Delusional imbeciles giving orders and dishonorable cowards mindlessly executing them. That is the setup we are dealing with.... All my education has always been based on a crucial central assumption: the other guy is rational. That is a huge assumption to make, but one which was fundamentally true during the Cold War. Today I find myself inclined to think that psychologists are probably better suited to make predictions about the actions of the rulers of...

The plot thickens.Sic Semper Tyrannis Looks Like FBI or McCain May Have Paid for the 16th Report of the Steele Dossier Publius Tacitus

Who is the smartest economist in America? None other than — Stephanie Kelton. DownWithTyranny!The Smartest Economist In America Explains What Deficits Really Mean

Why is this important to know about? Liberalization is changing the conditions for sexual selection, a primary evolutionary input.  This is taking place not only in China but also in some other traditional societies, although it is resisted in others.  From the standpoint of evolutionary theory and group selection, it is a big deal.  Arguably, one factor in America's success has been "the melting pot," and the looser ground rules for sexual selection are key. This is just one of...

An amicus brief to a lawsuit filed against Roger Stone and the Trump campaign raises troubling questions over the right to political speech. Intimidation. ...as of this writing, the Russia-Trump collusion narrative is fast devolving into an effort to stigmatize and marginalize expressions of dissent, with the overarching aim of short-circuiting and stifling debate over US-Russia policy. The NationRussiagate Is Devolving Into an Effort to Stigmatize Dissent James Carden | executive editor...

aka 'How dumb is the left?' ...the new law requires charges in the near-term as foreign earnings face taxation and the value of deferred tax assets declines. Citigroup Inc. said it expects a hit of as much as $20 billion, while Bank of America Corp. will take a $3 billion charge and Credit Suisse Group AG is at risk of posting a third consecutive annual loss.  The old tax regime allowed companies to defer U.S. taxes until they brought back earnings held abroad. Under the new law, U.S....

From an MMT perspective.Clint BallingerOf Bitcoins and Balance Sheets: The Real Lesson From Bitcoin