Mike Norman Economics

 Inequality resulting in lack of effective demand without supplementing income with debt, which leads to systemic instability. Pretty much like MMT says, following Minsky.Eurasia ReviewThe Real Reason The Economy Might Collapse – OpEdRobert Reich | Chancellor's Professor of Public Policy at the Goldman School of Public Policy at UC Berkeley, Secretary of Labor in the Clinton Adminstration, and formerly a professor at Harvard University's John F. Kennedy School of Governmen and professor of...

Mikes comments on QE from 10 years ago when they were doing 600b per month … In light of possible “QT” starting next month:The Fed is buying "scale down" and in effect, causing the selloff. They're doing this because they're fixated on quantity ($600 bln) as opposed to price (interest rate). I remember when I was a floor trader. I had clients in the oil business--big firms--who would sometimes want to protect a certain price. They'd give me an order that would be, "Buy 100 (crude), 'worst.'"...

No one should be allowed to get bigger than the government, including Elon Musk, who I've gone off a bit recently. Of course governments can be bad, and many are, but the good of society should come before the desires of individuals. I was brought up with the British welfare state, where seeing its benefits first hand, it has made me a Big Government kind of guy. It's probably why I like MMT too. And trains! The Tories ripped up loads of train lines in Britain during the 1960's, which was...

 Just got this.Some people say that this is authoritarian, as if authoritarian is always automatically wrong. But the local councils where I live won't let you drive faster than 20mph in the backstreets where I live as the roads are very narrow and too many children were getting injured or killed. And the government is authitarian on seat belts and crash Helmets for bike riders. The Australian government knows that people will die in their homes in agony unless something is done to halt the...

The Australian Bureau of Statistics released the latest labour force data today (October 14, 2021) – Labour Force, Australia – for September 2021. The background is that the entire East Coast is in or has been in lockdown over the last few months and for the two largest labour markets (NSW and Victoria) that lockdown has been very tight. Both states are in the process of easing restrictions as vaccination rates rise. The September 2021 data reveals that the longer NSW lockdown is now...

TK [Another nothingburger. Why is Russiagate still a thing? The media keeps it alive as a club.]Konstantin Kilimnik, Russiagate's Last Fall Guy, Speaks OutMatt TaibbiZero HedgeTaiwan Is Part Of China, Russia Declares, As Two Powers Coordinate To Resist US PressureTyler DurdenIndependent Media InstituteWhat Kind of a Threat Is Russia?Brittani Banks Open Democracy [On the other hand, this is not a simple issue. It needs careful analysis.]Regulating Big Tech is not enough. We need platform...

Xingjian is open to tourism now because the terrorist problem is under control, and Westerners travelling there and finding no evidence of cultural genocide, and that everything seems fine with the Uyghurs. So the West has started backtracking on the propaganda a little bit. AP’s recent trip to Xinjiang, China has revealed not only zero evidence of “cultural genocide” but has exposed the lies the Western media (including AP) have told international audiences for years about the conditions in...

I failed to summit my first 14er because I was mentally weak.

Perhaps the biggest reason is that China is leapfrogging retail storefronts and going directly to ecommerce. But there are other factors to consider as well. For example, China is highly digitized in many respects that affect retail. The result is that the Chinese are turning from savers into consumers, which is an essential in the transformation from an investment-export led economy into a consumer-dominant economy, that is, producing chiefly for the domestic population rather than chiefly...

Light at the end of the tunnel.Hellenic Shipping NewsFreight rates drop on popular shipping routes in sign that supply chains normalise soonInternational Shipping News