Mike Norman Economics

Market strategists have repeatedly warned about the potential fallout from the collapse of retail sales in China, a trend that has already led to a recession in global auto sales, while Chinese factory output has also declined. But the economic doldrums facing the world's most populous country didn't stop Chinese consumers from posting a massive tab on Alibaba's Singles Day. In fact, according to CNBC, it was the largest haul in the 11-year history of Singles Day.... But with the trade war...

Bill's 4 part series on Japan.Bill Mitchell – billy blogQ&A Japan style – Part 1Q&A Japan style – Part 2Q&A Japan style – Part 3Some reflections on my time in Japan while I am too busy to writeQ&A Japan style – Part 4 Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

An excellent way to explain it. When the goverment spends, that spending is someones income and that someone pays some tax so the government immediately gets some of their money back. And then that someone spends most of their money which becomes other peoples income. And these other people also pay tax, so the government gets another fraction back. And these other people also spend which becomes the income of even more people who also give a fraction back to the goverment. And so on. If...

The Grayzone's Anya Parampil took over an Al Jazeera interview to provide a point-by-point rebuttal of major myths surrounding the coup in Bolivia and placed the ouster of Evo Morales in proper historical context. [embedded content]

Anecdotally, several acquaintances have altered their view of future real estate prices and prospects, affecting their decisions on RE purchases and sales to reduce risk in view of expected or demonstrated location exposure. A very small sample, but it seems this could already be happening. If so, this is where the rubber hits the road.Zero HedgeMorgan Stanley: "Climate Will Be A Key Driver Of Asset Prices In The Months And Years Ahead" Tyler Durden

The military also ordered air-and-land operations to 'neutralise' armed groups that act outside the law.Everything in the West is a lie. No doubt the Western media will back this. The commander of Bolivia's armed forces called on embattled President Evo Morales to resign amid a growing furor over his disputed re-election. Morales should step aside to help ensure stability in the country, armed forces commander Williams Kaliman told reporters on Sunday, heaping pressure on the leftist...

The rap hip hop song sounds good in this video. I normally hate rap but I've noticed how more and more it's being used by poor people for protest songs. They are not about voilence, they're about wanting a better future. Poor people on the third world often use hip hop this way. The quality is good too.The Republicans are up to their low-down tricks again. And they have the nerve to say other countries aren't democratic. At the same time that more and more Americans across the United States...

PG&E is worth pennies on the dollar and it's infrastructure is worth more than the going price. Greg Palast says the public should launch a hostile takeover. But Paul Elliott Singer, known as the Vulture, is closing in on it. Power companies have two jobs: Keep the lights on and don’t kill your customers. Pacific Gas and Electric Co. of Northern California flunks on both counts. So how can California put an end to PG&E’s reign of error? The answer: Make this so-called “public...

There’s something unsettling about a private firm making powerful autonomous machines – but what’s scarier is who’s building them, and why These robots are not that advanced yet.Earlier this year, videos of a robot being kicked, hit with a chair, and shot at by its human owners spread online. Created by an LA-based production company, Corridor Digital, the videos were a parody of those released by Boston Dynamics, a company that has been making robots since 1992. But with their videos...

If you take away the Korean threat, if you recognize the Iranians aren’t a threat, if you see that Russia is a tiny little country that’s not going to invade Western Europe and crash through the Brandenburg Gate in Berlin, and so forth— All of a sudden somebody is going to do the math as we get into the coming fiscal crisis and say, “We can’t afford all this defense that we don’t need. Let’s cut it back dramatically.” They don’t want this to happen. And so, they have to keep these hot...