Mike Norman Economics

Opening remarks by Mr Carlos da Silva Costa, Governor of the Bank of Portugal, at the Bank of Portugal Conference on Financial Stability, Lisbon, 17 October 2017. Bank of International SettlementsCarlos da Silva Costa: Opening remarks - "Conference on Financial Stability"

Remarks by Mr Stephen S Poloz, Governor of the Bank of Canada, to the CFA Montreal and Montreal Council on Foreign Relations, Montreal, Quebec, 7 November 2017. Bank of International SettlementsStephen S Poloz: Understanding inflation - getting back to basics

There are no doubts, and many reasons, for the poor performance of most of the euro-area economies. Yet the austerity policy agenda (from the Stability and Growth Pact, the “fiscal compact,” etc., with the drives for balanced budgets), the pursuit of “structural reforms,” and the failures to address the current account constraints on euro-area member countries have all contributed to the lacklustre economic performance. In short, entrenchment of neoliberal policy coupled with a failed...

Managing brain waves and neural passageways. "The inventors, creators — it's me, it's Mark [Zuckerberg], it's Kevin Systrom on Instagram, it's all of these people — understood this consciously. And we did it anyway." Of course, this process based on new scientific understanding began long before the Internet and social media. It's at least as old as the rise of the PR, marketing and advertising industries, which took off around the time of the publication of Propaganda by Sigmund Freud's...

Investigation referenced by libertarians at Cato so tread carefully (ie not an endorsement). They put the focus on envy (takes only 2) rather than jealousy (takes 3 minimum) as operative in the "rich vs. poor" thing. The more surprising findings involved envy and fairness.  Envy, directed toward those better off than you, predicted support for redistribution.  "When a rival outperforms you in some activity, your relative standing decreases," said Sznycer. "People sometimes act to chip...

One wonders what goes on in the heads of politicians sometimes. Perhaps not much other than a warped sense of their purpose in life – which for some seems to be to advance themselves rather than advance societal well-being. In recent days, fiscal debates have raged on both sides of the Atlantic. In the US, there is the Trump tax cut debate. The correct progressive response would be to focus on why these cuts will not advance anybody but the rich and will do very little if anything to create...

The electronic library of the Central Intelligence Agency published a four-page document dated 1951, stating that the icon of Ukrainian nationalism, Stepan Bandera, was a German spy.… If this document is not enough, you can dig deeper into the CIA archives. You will be met with 293 pages of various documents on the subject of Nazism, and personally Bandera. You will learn that Stepan Bandera cooperated not only with the Third Reich, but also with the CIA itself.... Fort Russ CIA reveals...

Neil Howe looks at the economic aspect of demographics. Zero HedgeFourth Turning's Neil Howe: Why Millennials Aren't So Unique Tyler Durden

Designing a tax plan that will actually increase spending and therefore employment is really not all that difficult. All you have to do is meet two criteria: 1. The tax cuts must not be offset by spending cuts (or tax increases elsewhere). 2. The tax cuts must increase the incomes of those who will actually spend the money.... Forbes — Pragmatic EconomicsThe Disastrous Trump Tax PlanJohn T. Harvey | Professor of Economics, Texas Christian University Also The tax plan released by...

How can anyone with any sense believe the Russians Annexed Crimea. Even if they did the majority of the Crimeans approved re-joining Russia, and that includes the Ukranian speaking Crimeans.  In the document entitled “Progress report on the Alliance’s Enhanced Deterrence and Defence Disposition,” leading military figures call for a major boost to military capabilities in order to conduct a so-called “Major Joint Operation Plus.” The abstruse terminology in fact stands for a war involving...