Mike Norman Economics

I ran into a discussion on Twitter about the use of the terms positive feedback and negative feedback. These phrases really should not be applied to discussions of things like economic dynamics. I have discussed this before, but I decided to give the full explanation....Bond EconomicsWhy You Should Avoid Using "Positive/Negative Feedback"Brian Romanchuk

15 yard personal foul to GOP for piling on…Unmitigated Disasters: Biden's First Months Have Been Some of America's Worst. https://t.co/8vwnbmVu97— Raheem J. Kassam (@RaheemKassam) August 15, 2021 He’s scrambled eggs he looks like Captain Pike in the original Star Trek pilot pre Shatner:Scary!!!

This is just going to be incessant… hey what about “the debt!” they forgot that one… highest probability of default ever compared to any past debt ceiling episodes… The Biden Administration. pic.twitter.com/ulB7Q8AvU1— House Judiciary GOP (@JudiciaryGOP) August 15, 2021

"Who lost Afghanistan?" Fingers point in many directions.RT‘Manifestly not Saigon’? WATCH US helicopters evacuate Kabul embassy as Blinken defiantly rejects Vietnam pullout comparisonsYahoo NewsAfghan President Ghani Flees Country as Taliban Enter Kabul: ‘It’s Over’Sputnik International'This is Not Saigon': Blinken Insists US' Afghanistan Mission Was a 'Success'RTTaliban vows to respect rights of Afghan women, will allow access to work & education provided hijabs are worn –...

 Backgrounder.India PunchlineRussia, China circle the wagons. Iran is in it.M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service

Apparently we have enough power to drive ourselves to extinction, or at least a severe culling. Is that "too much"?Do some people have too much power over others? Do we humans have too much power over the natural world? These questions get to the heart of our biggest global problems. They also force us to think critically about the way society is organized, and about our own behavior. We often tend to give knee-jerk answers, but too much is at stake for that. We need to think critically and...

 Yes, I know, John Mauldin. for those who may not know, John Mauldin is a permabear and debt phobe, but this article is worth a read. There is a certain logic to it that is grounded in reality (complexity), and he doesn't focus on sovereign debt. Interestingly, he mentions Hyman Minsky and Paul McCulley. Mauldin's analysis in the article is based on Mark Buchanan's Ubiquity, Why Catastrophes Happen, which makes it quite interesting, which draws on complexity theory and chaos theory.One area...

Biden admin hemorrhaging political capital at unprecedented rate….  Scary!!!  PHOTO 1: US diplomat evacuate US from embassy via helicopter as the #Taliban enter #Kabul from all sides. #Afghanistan (2021)PHOTO 2: US diplomat evacuate US from embassy via helicopter as the PAVN & Viet Cong capture of Saigon, Vietnam (1975) pic.twitter.com/YamWmzjOay— Stefan Simanowitz (@StefSimanowitz) August 15, 2021

Click link to download paper or read online.Systems approach rather than a conventional axiomatic one.Real-World Economics ReviewA future social-ecological economicsClive L. Spash & Adrien O.T. Guisan

David P. Goldman is a conservative but his analysis is usually pretty objective considering that and worth reading.Where I take issue with this article is his assumption that America can do something about its decline relative to the rest of the world. It cannot. The rest of the world is catching up with America, and that is just the way history works as decolonization progresses. The only thing that the US can do is to try to slow down the progress of others. Of course, that will be...