Mike Norman Economics

There was an article in the Financial Times last week (August 16, 2017) – Central banks hold a fifth of their governments’ debt – which seemed to think there was a “challenge” facing policymakers in “unwinding assets after decade of stimulus”. The article shows how central banks around the world have been buying huge quantities of government (and private) bonds and holding them on their balance sheets. Apparently, these asset holdings are likely to cause the banks headaches. I don’t see it...

At the macro level, equilibrium requires that total demand in product markets equals total supply. This could occur at high or low levels of output and employment. For this reason, equality of supply and demand in product markets does not imply full employment. heteconomistShort & Simple 17 – A Notion of Macroeconomic EquilibriumPeter Cooper

The back story.  Similar in Brazil and other Latin American countries. In Brazil the Carnival queen was deposed for being too black.Defend DemocracyVenezuela’s long history of racism is coming back to haunt it Hazel Marsh

The more one looks at it, President Donald Trump’s real challenge is not about winning the war against the Taliban, but the high risk he’ll be incurring, by taking his generals’ advice, to put his imprimatur on a full-fledged proxy war in Afghanistan against Russia, Iran and China. Russia InsiderRussia Warns the US Over Afghanistan M.K. Bhadrakumar

The difference between Trump and Obama is that under Trump generals are in key civilian positions that are supposed to put a civilian check on the military. Now there is in effect a military junta running military policy with State under the control of a former Exxon CEO and treasury under the control of a Goldman Sachs alumnus. This is even worse that could be expected if HRC had been elected instead, and it is what a lot people that voted for DJT were voting to prevent.Sic Semper...

As summer draws to a close and the Wall Street titans enjoy the last of their lazy long weekends in the Hamptons, summering next door to the army of lawyers that keep them out of jail, it’s a curious time to be reading about a major new lawsuit that has the potential to shake Wall Streeters right down to their Gucci loafers. The charges include conspiracy to restrain trade in violation of the Sherman Act and unjust enrichment in a $1.7 trillion market. Since the Senate hearings of the...

Georg Lukács quote.Thoughts On Economics The Concept Of TotalityRobert Vienneau

Global disorder is on the rise. What can the US do about it? There are two fundamentally different approaches one can take—it all depends on your philosophy of how the world works.The first school thinks primarily in terms of law, order and authority: it accepts the need for a global policeman. The second school is more willing to let regional nations take the initiative to eventually work things out among themselves. Both schools possess advantages and disadvantages. Something called...

In a letter sent to the organizers of the event, Kontonis explained that such an initiative revives the climate of the Cold War, contradicts the values of the EU and equates Communism with Nazism, which is unacceptable. "History can not be faked. Historical data and events declare the Soviet Army as the liberator of Europe and of the Nazi concentration camps, as a savior from the horrors of the Holocaust. In our thoughts and in our minds, the Nazi regime is a political system whose...

Backgrounder on the Middle East.Consortium NewsIsrael’s Alarm over Syrian Debacle David Lazare