Mike Norman Economics

In a document on the future development of Pudong the central authorities issued on July 15, the Shanghai district is required to improve its financial market, financial products, financial agencies and financial infrastructure, and take full advantage of the central authorities' support, to develop offshore renminbi trading, cross-border trade settlement and overseas financing services.Judging from the development process of more than 40 years of reform and opening-up, Pudong has not only...

Not just oil. Everything, and that has vast economic implications. Climate change — think water shortage affecting agricultural production leading to mass migration — coupled with declining population rate will be game-changer. The first thing to be affected, however, is the standard of living. And that is not taking pandemic into account either. Not only is the population rate declining, but also a culling is underway. Those concerned at this point are mostly scientists, military and intel....

Neoliberalism, then, is much more than just a set of ideas about free markets. It’s a political project that aims not only to reduce the power of the state but, more concretely, to undermine the efforts of any collective actor — be it states, labor unions, political parties — to interfere with the decisions of private enterprises. This project to alter the balance of power is the key to its resilience.…Defend Democracy PressNeoliberalism Has Always Been a Threat to DemocracyAldo Madariaga,...

Xiaomi went from a startup smartphone company competing in China’s domestic markets in 2010, to entering global markets between 2014 and 2015, to this year surpassing Apple in global smartphone sales, with only Samsung selling more....NEOChina’s Xiaomi Passes US’ Apple Despite DC’s Dirty GamesUllson Gunnar

Fed adds 2 new repo facilities, but one is for foreigners. Selling dollars?

Today, my on-going inflation watch turns to Australia, given the release today (July 28, 2021) of the latest – Consumer Price Index, Australia – for the June-quarter 2021. The data is consistent with what we are seeing across many nations as supply chains are disrupted by the pandemic. Energy prices are adjusting back upwards and because the base from which we are judging these quarterly rises was lower as a result of price suppression during the downturn, the recovery in the pre-pandemic...

 I did change my mind about Europe. I know from an MMT POV its terrible, but I thought it was better than what the Brexit crowd had to offer. It's best to stay in and try to reform it, and dump the Euro, so countries can deficit spend again. Although Europeans have a lot in common, they are also too different to become one country at this present time.George Monbiot is superb here. It's hard to figure him out: the left hate him because he supported the Syrian war, and I bet he's xenophobic...

If the Fed decides to cut its asset purchases it's a sure bet the zombies will sell stocks. Don't do what they do.

Elon Muck on a roll.OilpriceTesla Smashes Expectations With Q2 EarningsCharles Kennedy

As this most disrupted of school years draws to a close, it is time to take stock of the impact of the pandemic on student learning and well-being. Although the 2020–21 academic year ended on a high note—with rising vaccination rates, outdoor in-person graduations, and access to at least some in-person learning for 98 percent of students—it was as a whole perhaps one of the most challenging for educators and students in our nation’s history.1Our analysis shows that the impact of the pandemic...