Mike Norman Economics

Backgrounder.The Vineyard of the SakerA Saigon moment looms in KabulPepe Escobar

Vietnam redux. Same policy and strategy. Same result. Although b does not make the connection.Moon of AlabamaAfghanistan - This Is The End ...

In other words, current estimates of per workers productivity across countries are poor indicators of the reality, because the conceptualisation and empirical estimation of both numerator and denominator are riddled with problems. How do we solve this? It’s not clear what can be done within existing national accounts and statistical systems to make these problems go away: maybe the point is to search for a more reliable and valid indicator of human progress.... Real-World Economics Review...

Down to 300 handle in the TGA under debt ceiling… that was the previous low on March 23, 2020 before Mnooch proceeded to run TGA up by 1.5T over next few months creating a massive bank reserve reduction that sparked the moonshot recovery rally…

The "debt" is money. It's already monetized.

On August 2, state-run news agency Xinhua published two major reports on China’s “unhealthy” fan culture. The first detailed the powerful Cyberspace Administration of China’s recent crackdown on unruly fan groups, which has so far resulted in the removal or closure of 814 hashtags and more than 1,300 groups engaged in channeling traffic to celebrities. The second article covered new guidelines meant to push content platforms away from a reliance on online traffic — and the algorithms that...

Backgrounder.The Vineyard of the SakerEmpire warns Brazil: it’s our NATO way or HuaweiPepe Escobar and Quantum Bird

China acts in the public interest, effectively banning cowboy capitalism. ZH hates it. Wall Street reacts to the party being over as Chinese regulators step in, sees some downside but good in the long run as a stabilizer. Neither seems to have figured out that Chinese authorities have seen what has happened in the West and want no part of such self-inflicted disasters, or they aren’t saying.Zero HedgeWall Street Reacts To China's Latest Regulatory Masterplan Which Spells Pain For The Next...

 Of interest only to those interested in the development of Karl Marx as a philosopher and public intellectual rather than as an economist. When I was a grad student in philosophy, I read duly read some Marx, but he was not high on my list. I never read Capital and still haven't other than some selections. Marx is actually considered a philosopher rather than an economist. The other two of the big three were not economists either. Smith was a philosophy professor who ventured into political...

There are calls for the Reserve Bank of Australia to be forced to undergo a major review of its operations, given that it has failed to achieve its own stated inflation targets for many years now. The RBA is resisting that call. The Australian Labor Party, which is in opposition at present, is trying to politicise the issue by claiming it will review the RBA once it becomes government. The problem is that the call to review the RBA is being made by those who would make the worst aspects of...