Mike Norman Economics

The World Economic Forum’s latest Global Shapers Annual Survey 2017 of 25,000 young people from 186 countries found that nearly half of all young people rank climate change and the destruction of nature as the most serious issue affecting the world today.Wars and inequality also score highly when it comes to global concerns.However, there is a marked shift in attitude when young people are asked to name the three most pressing issues of concern in their own countries.Here “Government...

With each data release it seems more likely to me that the deceleration in the growth of borrowing from the banks is reflecting a drop in aggregate demand:Growth of C and I loans has been near 0 since the election: No tax cuts, no infrastructure spending either. Trumponomics is dead in the water in Congress so far as the GOP engages in a circular firing squad. It's a party great at unifying on obstruction, but a bunch of losers on governing. The mid-term campaign season is nearing, so they...

Over the past year, a total of 43 trains have run on the route, delivering more than 17,000 tonnes of products, worth 236 million U.S. dollars, from Guangzhou to Russia. It takes the train 15 to 18 days to reach Vorsino, about 10 days less than the sea-rail transport service, and 25 days less than a ship. The costs are just one-third of air transportation. "Our train runs once per week and were fully loaded from March this year, one of the highest loading rates among all China-Europe...

In any society, of whatever configuration, production at a given point in time is limited by certain ‘real’ (meaning non-monetary) factors. Notably, a society’s productive activity will always be limited by access to natural resources, the current state of its technology, and the skill, strength, size and imagination of its people. These and similar factors determine the absolute productive potential of a society. At a given point in time, these factors would apply even if, hypothetically,...

Short appreciation of Jason Smith's A Random Physicist Takes on Economics. He likes it. Jason Smith, a random physicist, has a new book out where he takes aim at some of the core foundations of microeconomics. I encourage every economist out there to open their mind, read it, and genuinely consider the implications of this new approach. Go get it now. It only costs a few bucks. Fresh Economic Thinking A random physicist takes on economicsCameron K. Murray

Brings out some facts that are generally overlooked or suppressed in the neoliberal media. The Vineyard of the Saker Venezuela – Open Letter to President Nicolas MaduroPeter Koenig, former World Bank economist

Good news, or Russian propaganda?Sputnik InternationalDebunking Myths: Tea is Not Really Healthier Than Coffee

Part one of backgrounder on Korea. It's a must-read for understanding the situation today.Sic Semper TyrannisMAYDAY KOREA! William R. Polk

What is left of ISIS, probably some 10,000 fighters in total, is now confined to east Syria and west Iraq. No more replenishment is coming forward. No new fighters are willing to join the losing project. Its resources are dwindling by the day. The U.S. is extracting its assets within the organization. The Euphrates valley west and east of Deir Ezzor will become the last defensible territory it holds. Six month from now it will be defeated. Its Caliphate will be gone. The other Jihadi...

Delusional article of the day.As China becomes a hegemon and the US pursues a short-sighted and largely undefined 'America First' policy, Europe must tend the flame of values-based policy and the rule of law. This person is complete out of touch with what is happening in Europe.Asia TimesWho will stand up, against China, for rules-based order?Ana Palacio, a former Spanish foreign minister and former Senior Vice President of the World Bank, member of the Spanish Council of State, and a...