Mike Norman Economics

China has set out an outline on promoting the building of a rule of law government from 2021 to 2025, on the basis of the successful implementation of a previous 5-year plan.The document, jointly issued by the Central Committee of the Communist Party of China and the State Council, was made public Wednesday.Identifying promoting the rule of law for government as the main task in advancing law-based governance in all areas, the document highlighted the guiding philosophies, principles, and...

 Headwinds.Zero HedgeBrace For "Nasty" Debt Ceiling Fight As GOP Goes Full "Scorched Earth Mode" On DemocratsTyler Durden

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.…Corruption of the system or a corrupt system by design?ProPublicaSecret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”See alsoProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessTwitter is Now Obeying India’s New Internet Rules,...

In his book Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters, Steven Koonin explores misconceptions and shortcomings in the media’s presentation of climate science. The following excerpt takes a closer look at the projected economic impact of climate change....PromarketUnsettled: What is the Economic Impact of Climate Change?Steven Koonin | Professor of Information, Operations and Management Sciences, New York University Stern School of Business, Director of...

“Marxism teaches a legacy of socialism, not of gravediggers. The younger generations in China should be more socially responsible than their Western counterparts who grew up with values that emphasize individualism,” Yu Heping, a master’s degree student at the School of Marxism at China University of Political Science and Law, explained his decision to enroll on this program....MR OnlineMarxism resurges among young Chinese after CPC’s centenary proves a successGlobal Times by Hu Yuwei and...

 A nice video! Heartfelt. Is it necessary to politicise everything about China, including its performance in Tokyo Olympic?[embedded content]We can be friends instead of enemies - Alex from Xinjiang.

It is Wednesday and I have been busy on other writing projects. But today I offer some data analysis on the Greek fire tragedy as well as a short video promoting a very important festival that is coming up. Then I offer some personal insights on the accusation by the right-wing press that on-line learning is just a ruse for lazy “work-shy” professors. And to calm us after all that – we have some fine jazz from 1960....Bill Mitchell – billy blogAusterity has damaged the ability of Greece to...

My girlfriend says it's a horrible old cobweb infested thing and she hates it. So, like with King Alfred's Tower, I've manage to persuade her to go on a holiday there, but she will go around the town centre buying interesting things, like clothes and birthday cards for relatives, while I'll do the boring bit and go and look at the tower.I think it's beautiful!Broadway Tower is a folly on Broadway Hill, near the large village of Broadway, in the English county of Worcestershire, at the...

I think that the ECB and BOE already effectively have this… those systems also have much lower and less volatile interest rates on their government securities… hmmmmm… ?Couple comedic sidebars, this is funny in here:  “The Fed began intervening in money markets in September of 2019 when reserves in the banking system fell too low, leading to a spike in short-term borrowing rates.”Oh yeah like the system reserve balances just somehow “fell too low!” like they somehow just evolved from the...

GOP still digging in…. making Democrats own it…"This debt ceiling is going to cover all of the things that all of us have been opposing," McConnell told the Journal in an interview, adding the Democrats "need to do the responsible thing and raise the debt ceiling, because America must never default on its debt."Most Senate Republicans appear to be in lockstep behind McConnell in demanding Democrats lift the debt ceiling on their own. "They own it. They control it," Sen. Bill Cassidy of...