Mike Norman Economics

Many physicists today are arguing that as everything is predetermined by cause and effect we therefore have no free will. But this lady's hypothesis of how one day a supercomputer might be able to predict the future is interesting. The hypothetical supercomputer will be able to predict her future, but as she has access to this knowledge this will most likely alter her behaviour. Now, whatever she chooses, the supercomputer will be able to predict it. But this knowledge alters her behaviour...

Recall that in 1936 FDR jumped the gun in prematurely cutting back stimulus aimed at recovery, which truned out to have been premature. But the outcry against "loose money" was loud, and FDR unwisely buckled to it.the new economics foundationNot the right time to get pumped up about inflationDominic Caddick

The following email was sent to me by someone who wishes to go by the pen name “Patriotic American Socialist,” who happens to also be a US military officer. We have been corresponding for some time, and he is working on a research project with the aim of writing a sequel to Towards a New Socialism, titled “Towards a New Socialist Movement.”He has given me permission to publish his email anonymously here, and has expressed to me that he would love feedback, thoughts, or questions on what he’s...

Economic data are starting to recover from the distortions created by the pandemic, and so lazier analysts like myself can get a better handle on the current state of the economy. Although I have an interest in inflation, I want to also see what is happening in the real economy.… Bond Economics Sustainability And Canadian HousingBrian Romanchuk

 The climate crisis is forcing thousands around the world to flee as their homes become increasingly uninhabitable. Abrahm Lustgarten is a Pulitzer Prize-winning environmental reporter and has spent years looking at how climate migration will reshape the world. He speaks with Hari Sreenivasan about his latest project.[embedded content]

I have argued in many posts that ‘profits call the tune’ in capitalist accumulation. What I mean by that is that any change in business profits (and profitability) will lead to changes in business investment – and not vice versa over time. Profits are key to capitalist investment, not ‘effective demand’ as Keynesians argue, or changes in interest rates or money supply as Monetarists and the Austrian school argue. I differ strongly from the post-Keynesian view that profits are a ‘residual’...

A rate hike is not a rationale for buying the dollar and selling gold.

Moon of Alabama (where's the beef?)Summit SummaryU.S., UK Information Warfare Behind Regime Change Drive In BelarusRussia Observer (much ado in the press over nothing)PUTIN-BIDEN SUMMITPatrick ArmstrongPOLITICO (it's OK when we do it)Biden derides Putin's 'ridiculous' whataboutismNick NiedzwiadekThe Intercept (Joe Liberman is still with us)Leaked Audio of Sen. Joe Manchin Call With Billionaire Donors Provides Rare Glimpse of Dealmaking on Filibuster and January 6 CommissionLee FangSputnik...

Somebody had to say it. Caitlin Johnstone does a decent job of it, although far more could be said and documented with evidence.The fact that not one person in the press pool questioned or criticized Biden’s outrageous remarks tells you everything you need to know about the western media and what its real function is....The US position is that it is OK for us to do since we are exceptional.CaitlinJohnstone.comAmerica’s Soup-Brained President Says The US Never Interferes In Other Countries’...

Ditlev Blicher, Maersk Asia Pacific Managing Director, was quoted by Seatrade Maritime, who said Yantian port is operating at a 40% capacity, and "We're expecting that to continue for the next month with significant delays for vessels to be able to berth."A recent surge in COVID-19 infections in the port area and prevention and restriction measures put in place by local authorities is the primary reason for the lack of capacity at the port...Zero HedgeMaersk Warns South China Port Congestion...