Mike Norman Economics

Ed Harrison follows up on yesterday's bullish outlook. Yesterday I promised you to “look at individual economic data points and tell you why I think they bolster the case for optimism about the economic trajectory.” But before I get into that, let me tell you why I still worry about the foundation of this global recovery. And a lot of it has to do with the pace of growth and with inequality. Let’s look at the US here....  Credit Writedowns Let me tell you why I’m still worried before...

Mostly about the NYT. What the New York Times continuously ignores is that the American people are disgusted with Washington’s revolving door and good-ole-boy mentality. When Special Counsels are appointed to investigate matters that are critical to the public interest, Americans don’t want that individual to come buried under either the perception, or the fact, of conflicts. Taking the New York Times word that Mueller’s work is “precise” and “methodical” and that he is “highly respected”...

Russian Prime Minister Dmitry Medvedev told reporters that discussions are being held between Russia and China to integrate their payment systems together."At the moment, issues of somehow linking the Mir card with Chinese payment instruments on the basis of the so-called co-badged cards are being discussed," Medvedev said."It will allow to use cards in transactions in Russia and on the territory of other countries. I view those prospects as very promising and they will allow to avoid the...

It’s getting easier to do business in India. That’s not a boast by the Modi government, but something “confirmed” by the World Bank’s latest global survey on Doing Business. Informal reports over recent weeks had suggested India would score a better grade than the 142nd ranking the country got in the DB report in 2015, the cut-off date for which was June 1, 2014 – just a week after Narendra Modi took over as prime minister. In just three years India has jumped a massive 42 ranks higher,...

Experts are evenly split on whether the coming decade will see a reduction in false and misleading narratives online. Those forecasting improvement place their hopes in technological fixes and in societal solutions. Others think the dark side of human nature is aided more than stifled by technology. It's folly to think that the Internet is responsible for fake news as a new phenomenon as a social influence. It's been around for a long time in various forms. The Platonic dialogue, The...

Must really suck to be a Democrat...? | Trump’s top economist offers solution to unemployment: More government jobs https://t.co/0LLfyD1qDl via @politico— James Pethokoukis (@JimPethokoukis) November 1, 2017

Many of Stigler’s views on monopoly and antitrust were consistent through the decades. Even after his concerns of monopoly began to recede, he continued to believe that monopolies and oligopolies were still prevalent in the American economy and that they “should be a source of serious concern for public policy.”... ProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessStigler on Monopolies: “Competition is a Tough Weed, Not a Delicate Flower”Douglas...

Getting some perspective that the US media is not only not providing but is also constructing a narrative based on inference and insinuation rather than evidence.Consortium NewsSorting Out the Russia Mess Robert Parry See also Making stuff up. Wall Street On ParadeRussia Probe: New York Times Writes Its Own IndictmentPam Martens and Russ Martens Also Russia’s criminal prosecution authorities have expressed their appreciation for the indictments published in Washington on Monday...

Most of the recent economic news from developed economies has been good. European growth, in particular, seems to have accelerated. Nothing I see in the economic data causes me worry. So I am cautiously optimistic that this upturn will last at least through 2018. So let me go through the data, my outlook and my concerns.... Credit Writedowns The global economy is hitting its stride right nowEdward Harrison

At the opening ceremony, Mr Putin said: "An unequivocal and clear assessment of the repression will help to prevent it being repeated." "This terrible past must not be erased from our national memory and cannot be justified by anything." BBC NewsWall of Grief: Putin opens first Soviet victims memorialSee also Yesterday (30 October), Vladimir Putin attended the unveiling of the ‘Wall of Grief’, a monument erected in Moscow to the victims of communist repression. This is the third major such...