Mike Norman Economics
Chris Hedgers talks to Stephen Kinzer about the American Empire. The US ruling elite always had debates about whether to expand the US beyond its borders or invest in building up their country at home instead, but by a few narrow votes they always voted to expand.Stephen Kinzer says how after WW2 the US had a surplus of products coming out its factories and the farmers were producing a surplus too and so big business pushed Congress to expand the country's borders to find new markets. The...
Read More »Edward Harrison — We are in the most dangerous period in the business cycle
The big picture then is this: a global economy into its ninth year of the business cycle that is starting to gain momentum with the US flirting with 3% growth and 4% unemployment with richly priced asset markets but a flattening yield curve. We’ve seen this picture before.… In retrospect, one could argue that the Fed’s late interest rate hike campaign was a policy error – that the Fed should have seen the flattening yield curve as a canary in the coal mine and resisted raising its policy...
Read More »Pam Martens and Russ Martens — Trump Now Says Wall Street Is the Victim, Not the Villain
“Populist” candidate for President, Donald Trump, railed against the “political establishment” and Wall Street elites who were “getting away with murder.” On October 26, 2016, just days before the Presidential election, Trump spoke at a rally in Charlotte, North Carolina and promised to uphold the plank in the Republican Party platform to break up the big banks by restoring the Glass-Steagall Act.…Now, as the sitting President, the former populist candidate has become the embodiment of the...
Read More »More bad news…
This really is terrible: Cyber Monday becomes largest online shopping day in US history, ringing up $6.59 billion in sales https://t.co/ihLA1upXag pic.twitter.com/cxoAivamt8— Blimling&Associates (@Blimling) November 29, 2017 Oops this is going the wrong way now too:U.S. third-quarter GDP revised up to 3.3%, a three-year high https://t.co/jwCP8xWstJ pic.twitter.com/hdemaEQadL— Bloomberg Markets (@markets) November 29, 2017
Read More »Spotted in India…
20 Ft. tall Ivanka!Oh God, Ivanka Trump is being promoted as a role model. ??♂️Need a banging head against a brick wall emoji. ? pic.twitter.com/i1eC2UaPEJ— Ramanan (@Ramanan_V) November 28, 2017 LOL!!!
Read More »Fed’s Powell on Congress’ Role
Lane departure from previous two Fed morons:Fed chair nominee Jerome Powell tells Congress: Measures to boost U.S. growth 'in your lane, not so much ours' https://t.co/PolpKRR0mQ pic.twitter.com/k9EEP5mGDq— Real Time Economics (@WSJecon) November 28, 2017
Read More »Bill Mitchell — The EMU reform ruse – Part 2
This blog continues the discussion from yesterday’s blog – The EMU reform ruse – Part 1 – where I consider the reform proposals put forward by German academic Fritz Sharpf, which have been held out by Europhile Leftists as the progressive way out of the disaster that the Eurozone has become. Yesterday, I considered his first proposal – to continue with the enforced structural convergence to the Northern model – the current orthodoxy in Brussels. Like Sharpf I agree that the agenda outlined...
Read More »Frances Langum — The GOP Tax Bill: A Stealth Attack On Medicare And Social Security
Last night Chris Hayes ended "All In" with a discussion of the GOP Tax Plan. Economists David Cay Johnston and Stephanie Kelton agreed that if Republicans get their long-awaited wich and this budget-busting tax plan is enacted, the huge deficits it will create might not lead to the promised "growth" Steve Mnuchin insists will result.What happens if Steve Mnuchin is wrong? Austerity budgets that cut into the heart of the biggest programs paid for out of the federal budget: Social Security...
Read More »Ed Pilkington – Hookworm, a disease of extreme poverty, is thriving in the US south. Why?
Children playing feet away from open pools of raw sewage; drinking water pumped beside cracked pipes of untreated waste; human faeces flushed back into kitchen sinks and bathtubs whenever the rains come; people testing positive for hookworm, an intestinal parasite that thrives on extreme poverty. These are the findings of a new study into endemic tropical diseases, not in places usually associated with them in the developing world of sub-Saharan Africa and Asia, but in a corner of the...
Read More »The Intercept — As John Conyers Departs From Judiciary Committee Spot, The First Battle of the Anti-Monopoly Era Begins — The Intercept As John Conyers Departs From Judiciary Committee Spot, The First Battle of the Anti-Monopoly Era Begins
Conyers on Sunday announced he is stepping down as the top-ranking Democrat on the Judiciary Committee, launching a battle for his successor that has pitted two Democratic rivals — Lofgren and Rep. Jerrold Nadler, D-N.Y. — against each other. On the one hand, his resignation comes in a politically fortuitous way for Lofgren, with Conyers felled not by age but by allegations of sexual harassment. The political logic of replacing him with a woman is obvious. But then there’s Google. The race...
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