Mike Norman Economics

A little bit of a different blog post format today. I mentioned in this blog post – Apparently core MMT idea is now supported by the mainstream (October 16, 2019) – that the Japanese government had taken issued a statement, by way of a formal answer to a series of questions from Japanese CDR politician Kazuma Nakatani on the opening day of the new Parliament (October 4, 2019). The Japanese government reply was not available in full at the time I wrote that but it was reported in the Japanese...

Despite all the "pumping" reserves went down. Lira is bullish.

People freaking out.

The report says a combination of global starvation, war, disease, drought, and a fragile power grid could have cascading, devastating effects. According to a new U.S. Army report, Americans could face a horrifically grim future from climate change involving blackouts, disease, thirst, starvation and war. The study found that the US military itself might also collapse. This could all happen over the next two decades, the report notes. Vice Nafeez Ahmed - U.S. Military Could Collapse...

A key difficulty here is that, even though interactions are clearly all over the place, they’re hard to estimate. Remember, you need 16 times the sample size to estimate an interaction than to estimate a main effect. So, along with accepting the importance of interactions, we also have to accept inevitable uncertainty in their estimation. We have to move away from the idea that a statistical analysis will give us effective certainty for the things we care about. "Representative agents" are...

Bloomberg says I've used up all my free articles and has put a paywall up, but you might be able to read it. At stake is not just the well-being of millions of Chinese people, but the future of the global healthcare industry. China has set its sights on creating a holy grail healthcare system that satisfies patients’ needs and control costs while still encouraging cutting-edge research—and the world is watching. Whether it succeeds will affect the future of the global industry....

There was a story in the MSM the other day which said Putin thought invading Europe was worth the risk. Europe is incredibly well defended and over populated, and Russia has an economy the size of Italy, and although it's a vast country, it's very under populated. It would be suicude for Russia to send tanks into any European country, and it would be MAD - the end of the world! Most people probably believed the story, but it was pure propaganda planted by Western intelligence. But it is no...

Putin is coming across as very adroit. But it must also be mentioned — which Pepe Escobar doesn't do here — that securing the Middle East and Central Asia is existential for Russia.Jihadis present a major threat to Russia on their own and they are also a proxy force in US hybrid warfare.Putin is not just being a nice guy in helping out Assad. Russia has a major strategic interest in Mideast stability, which entails eradication of terrorism that can be directed at Russia from the south and...

Dances with Bears THE SULTAN BLINKED, THE TSAR AGREED TO CLOSE HIS EYES – THE OTTOMAN EMPIRE EXPANDS BY 118 KILOMETRES OF SYRIA John Helmer India PunchlineDeconstructing Putin-Erdogan MOU on Syria; this is how it looks. M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service FAIRWhitewashing Neoliberal Repression in Chile and Ecuador Lucas Koerner Fort Russ NewsBREAKING: Evo Morales declares state of emergency in Bolivia because of coup attempt Paul Antonopoulos...

Neoliberalism is – literally – burning. And from Ecuador to Chile, South America, once again, is showing the way, Pepe Escobar writes. Strategic Culture FoundationBurn, Neoliberalism, Burn Pepe Escobar