Mike Norman Economics

One of the stark facts about the academic economics discipline is its insularity and capacity to deliver influential prognoses on issues that affect the well-being of millions with scant regard to the actual consequences of their opinions and with little attention to what other social scientists have to say. The mainstream economists continually get things wrong but take no responsibility for the damage they cause to the well-being of the people. A 2015 paper – The Superiority of...

Asset purchases by the ECB is making it difficult for Depositories to increase residual value (Regulatory Capital) as Reserve Assets created by the CB asset purchases create an associated deposit liability at the Depositories....  the numerator (A-L) remains unchanged...lol then right on cue the unqualified moron platonist Art Degree people trying to run the thing have to resort to figurative language to attempt to explain what they think is going on: “When you are building something that...

Signed up with the Peterson people a while back:Michael Bloomberg To Chair Campaign To Fix The Debt http://t.co/dHLAT2dh— Christopher  John (@thetechguychris) December 13, 2012

An excellent video! Evo Morales called for new elections with more international observers, but the elite weren't interested. [embedded content]

Is the universe conscious? Some scientists are beginning to wonder. This means that mind is matter, and that even elementary particles exhibit incredibly basic forms of consciousness. Before you write that off, consider this.  Consciousness can vary in complexity. We have good reason to think that the conscious experiences of a horse are much less complex than those of a human being, and that the conscious experiences of a rabbit are less sophisticated than those of a horse. As organisms...

For those interested in Marx and Marxian economics.Michael Roberts Blog — blogging from a marxist economistHM1 – Marx’s double-edge law Michael Roberts

The debt ceiling cause the plunge in rates and rally in bonds. All being reversed now.

Targeted expenditure based on priorities determined by national security and aimed at neutralizing threats. In other words, defense rather than global power projection, like US-led NATO. The real expenditure, however, is not in nominal terms but with respect to allocation of real resources that are scarce, most significantly, knowledge and skill. Russia has established dominance in technological innovation in weapons development and manufacture. This requires investment in education and...

Lula detailed the current “terrible conditions” for Brazilian workers. He ripped to pieces the economic program – basically a monster sell-out – of Finance Minister Paulo Guedes, a Chicago boy and Pinochetist who’s applying the same failed hardcore neoliberal prescriptions now being denounced and scorned every day in the streets of Chile. He detailed how the Brazilian right wing openly bet on neo-fascism, which is the form that neoliberalism recently took in Brazil. He blasted mainstream...

Backgrounder on neoconservatism and its marriage of convenience with liberal internationalism (Wilsonianism). Does the permanent warfare of today's neocons differ in any real way from the Trotsky idea of permanent world revolution? Socialism has been replaced by democracy-promotion but that difference is small, particularly as the consequences continue to play out on the world stage. This prompts the question as to why Donald Trump has appointed neoconservatives like John Bolton when he is a...