Mike Norman Economics

Bernie knows his stuff, and here he gives a warning about the election result. Trump might be out front Initially, but Biden could win in the end. Politics will then get dirty [embedded content]

 We're taught to believe that America is the greatest country on earth and that it couldn't possibly get any better. Let's put that claim to the test. In this episode, we'll compare the US to other wealthy nations using several key metrics: "low-skilled" job compensation, vacation time, length of the work week, and paid parental leave. The results may surprise you.[embedded content]

 Prime Minister Netanyahu promotes and sometimes manufactures an endless series of national security crises. The military and settlers win; everyone else loses.Netanyahu controls the people of Israel by intimidating them with existential threats—if it’s not nuclear Iran, then it’s the tunnels of Hamas. If not ISIS, then Hezbollah in Lebanon. If not an international flotilla of solidarity activists trying to break the blockade on Gaza, it’s anti-Semitism taking over Europe. The premier has...

This major new report from Transparency International – Defense & Security examines the underlying processes and pathways to influence between the American defense export sector, the federal government, the defense bureaucracy, and Middle East and North Africa (MENA) governments. These pathways enable American defense firms to export arms and defense services to MENA countries despite many regimes’ poor human rights and governance records, lack of transparency and accountability, and...

 Meet Sinophobia Inc.—the media machine busy manufacturing consent for war on China. Armed with state funding and weapons industry sponsors, this handful of influential think tanks is setting the terms of the New Cold War on China and propelling the U.S.-led alliance’s drive towards war on China.This same convergence of corporate media and weapons industry interests led down the disastrous path of U.S. intervention in the Middle East. But it’s up to us to break the cycle by pulling the...

VALDAI. Putin's speech is here. To my mind, other than the funeral crack, the most memorable bit was his strong defence of a mixed economy: when things are purring along, free enterprise does the job but in bad times you need the government. I'd say the last 20 years vindicates this point of view....Sic Semper TyrannisRUSSIAN FEDERATION SITREP 5 NOVEMBER 2020Patrick Armstrong

The conclusion is clear: The next US administration should accept China’s continued economic and technological rise. It may not like the idea of China overtaking the US – a milestone that will probably be reached within the next decade. But further attempts to stave off that outcome would be not only futile, but also very costly.Well, the real question is can American accept not being number one. Probably not. Thucydides trap on schedule.Project SyndicateThe US Must Accept China’sDaniel Gros...

 Even though China’s financial system is not terribly transparent, and English language reporting on China’s politics should be taken with a fistful of salt, regulators stomped on a globally high-profile company widely deemed to be one of China’s stars to send a message. And even from the other side of the world, mediated through the Anglo press, the message seems very clear: China is going to leash and collar businesses, whether banks or fintech players, that profit by giving consumers high...

Covid-19 is drawing a sharp wedge not only between China and the rest of the world, but also between China and its hinterland. It is yet to be seen how this will play out both geopolitically and in economic terms.Real-World Economics Review BlogDeveloping Asia: The growing divergence between China and the restC. P Chandrasekhar and Jayati GhoshSee alsoChina’s rise reflects a bourgeoning global movement away from U.S. imperialism and toward [national] self-determination. MR OnlineAmerican...

On Tuesday (November 3, 2020), the Reserve Bank of Australia made its monthly announcement with respect to the conduct of monetary policy. The governor Philip Lowe released this – Speech – to announce the decision. There were four elements to the decision, which I will explain. But the most significant aspects of the decision was to set the support rate on excess reserve balances to zero and increase their government bond buying program by 200 per cent. And the most significant aspect of...