Mike Norman Economics

Huawei’s smartphone shipments surged 66% year-on-year in the third quarter, according to research published Wednesday by research firm Canalys, capturing a record 42% of China’s overall smartphone market.... Sputnik InternationalHuawei Sets Record Share of China’s Smartphone Market Beating Apple

The push for 5G technologies requires a visionary approach as the industry rapidly evolves, causing telecoms to face disruptions to their established biases on how best to apply the budding technology.... Sputnik International5G Posing New Challenges, Advantages to Global Telcos as 4th Industrial Revolution Takes Hold - CEO

There is a continually growing "club of very powerful countries" in the world, which have a strong "motivation to de-dollarize" their trade, co-director at the Institute for the Analysis of Global Security, Anne Korin warned in her interview with CNBC channel. She added that among the members of this "club" are "major movers" such as China, Russia and the European Union. The pundit explained that the shift was caused by certain practices, adopted by the US government in recent years....

One of the more provocative claims in the book is that the American tax system, taken as a whole, and including state and local taxes, is not progressive, meaning it does not tax the rich more than the middle class or working poor. Instead, they write in their book, when you include the totality of taxes, "The US tax system is a giant flat tax—except at the top, where it's regressive." That is, the rich now pay a smaller tax rate on their income than everyone else.Planet MoneyGREG...

Morons still in full control... Nothing has changed... N-O-T-H-I--N-G.... If we don't act now to address the solvency of programs like Medicare and Social Security, our government's trust funds will be depleted in 13 years. The TRUST Act will help secure these programs because we can't keep ignoring a preventable crisis. pic.twitter.com/LnXKjDpBRY — Senator Mitt Romney (@SenatorRomney) October 30, 2019

A retired U.S. general has warned that President Donald Trump's foreign policy in Syria is drifting dangerously close to piracy, following confirmation that American soldiers will be deployed to secure valuable oil fields in the east of the country and protect them from the Islamic State group. Retired General Barry McCaffrey condemned the plans on Sunday, following Trump's suggestion he wants to bring in Exxon Mobil or another U.S. oil company "to go in there and do it properly...and...

Across the West, usual suspects have been trying to impose the narrative that protests from Barcelona to Santiago have been inspired by Hong Kong. That’s nonsense. Hong Kong is a complex, very specific situation, which I have analyzed, for instance, here, mixing anger against political non-representation with a ghostly image of China. Each of the outbursts – Catalonia, Lebanon, Iraq, the Gilets Jaunes/Yellow Vests for nearly a year now – are due to very specific reasons. Lebanese and...

The US Bureau of Economic Analysis (BEA) released the – Gross Domestic Product, Third Quarter 2019 (Advance Estimate) – data yesterday (October 30, 2019). It shows that the US economy “increased at an annual rate of 1.9 percent in the third quarter of 2019” which was slightly slow than the 2 per cent recorded in the June quarter. As this is only the “Advance estimate” (based on incomplete data) there is every likelihood that the figure will be revised when the “second estimate” is published...

Professor Andrea Terzi is an MMT economist. Here are some observations on the EZ. The second link contains a link to a recent paper of his, "A critical analysis of public debt under a non-convertible currency standard: Implications for the euro area"Money And The Real EconomyEuro area financial balances send a warning signalThe euro area has a unique opportunityAndrea Terzi, Professor of Economics, Franklin College, Switzerland

Influential pundits have argued that under the current situation there is no need for the government to worry about fiscal sustainability. They have found support in the proponents of so-called modern monetary theory, who have cited Japan as real-world proof of their heterodox doctrine. Even some mainstream economists, including Olivier Blanchard, have advocated for fiscal activism in Japan and argued against the consumption tax hike. An important basis of their argument is the absence of...