Mike Norman Economics

Contra Krugman.Occasional Links & CommentaryHow to lie with inequality statisticsDavid F. Ruccio | Professor Emeritus of Economics, University of Notre Damehttps://anticap.wordpress.com/2022/02/07/how-to-lie-with-inequality-statistics/

February could good. But I’m not calling it now.

Market down big today, then up after hours, reversing all the losses. This is no way to invest. Stay focused on basic economic conditions.

However, the damage from the rising political tensions to the Russian and Ukrainian economies is not equal, TeleTrade Chief Analyst Pyotr Pushkarev noted. “As for Ukraine, investors are massively abandoning plans related to the real sector of the economy, yet in Russia, it’s the stock market that funds have been withdrawn from. That means that only the share of foreign capital in Russia’s financial instruments has declined,” he explained....Defend Democracy PressOn the economic consequences...

Payrolls dropped by 300k in January. The economy is in a steep slowdown. Trust your "instruments." This is a bear market rally.

 According to Andrew Cockburn, the MIC is just a racket, a profit making machine that can't be controlled. The US is pouring more weapons into Ukraine amid bellicose threats against Russia and the US-backed Saudi war on Yemen continues to massacre civilians. But not everyone sees a downside: “I fully expect we’re going to see some benefit from it,” Raytheon CEO Greg Hayes said this week of these and other flashpoints.Andrew Cockburn, Washington editor of Harper’s Magazine and author of “The...

Gilbert Doctorow — International relations, Russian affairs (talking from a position of strength)Mr. Nyet returns: Russia’s in-your-face behavior at the United Nations this weekGilbert Doctorowhttps://gilbertdoctorow.com/2022/02/02/mr-nyet-returns-russias-in-your-face-behavior-at-the-united-nations-this-week/One World (still taking, not yet shooting)Analyzing President Putin’s Response To The Undeclared US-Provoked Missile CrisisAndrew...

This was well below the consensus forecast of 208,000 for this report.The BLS report will be released Friday, and the consensus is for 155 thousand non-farm payroll jobs added in January. The ADP report has not been very useful in predicting the BLS report, but this suggests weakness in the January BLS report....Calculated RiskADP: Private Employment Decreased 301,000 in JanuaryBill McBride

It’s Wednesday and a ‘blog lite’ day but there was an important speech delivered by the Governor of Australia’s central bank today that reveals the reasons that the RBA is once again refusing to be bullied into increasing interest rates rises by the ‘markets’. It is almost comical to observe the ludicrous self-importance that the ‘markets’ are exhibiting at the moment. Every day there is a new article or segment on the finance reports about how the ‘markets’ are going to win the battle...

UC Berkeley economists have launched a powerful new web tool that allows users to track, almost in real time, how economic growth and public policy affect the distribution of income and wealth among classes in the United States. The website, Realtime Inequality, is an extension of the pioneering work done by Berkeley economists Emmanuel Saez and Gabriel Zucman that explores how law and policy in the U.S. and worldwide result in profound inequality in the distribution of economic...