Mike Norman Economics

I had 7 bookcases in my house at one point. I worked out that if each book was worth on average £10, then 10 books was worth £100. This was 30 years ago. 10 books doesn't take a lot of space, so, no wonder I never had any money.The bird spotters get the twitches when they see a rare bird, and I used to get something similar when I spotted a great new book.Some people can only get excited when are doing some sort of daredevil act, like hanging off the side of a mountain, which maybe similar...

Iranians don't hate Americans, and if you believe that, then you have been taken in by the propaganda, says Peter Santenello. They don't like Pompeo very much, though. [embedded content]

The US thinks it's exceptional because of its 'democracy', its 'freedom loving people', its 'capitalism', etc, but 'exceptional' turns out to be more about white supremacy.Part of title of the book is American Innocence, where Washington believes it has never done anything wrong. War after war, but the US is the 'good guy' . It runs an industrial killing machine, backs mercenary jihasist terrorists all over the World, but it remains 'exceptionally good', while all others are 'exceptionally...

I am taking a few days off from the Internet while away visiting family and friends. See you when I get back.

PoliticoTrump wants ‘diplomatic solution’ with Iran, Pompeo says Eleanor Mueller The HillMnuchin said Iran tensions 'worse' because plan 'is working' Rebecca Klar YahooPompeo says Iranians are 'bloodthirsty,' 'looking for war.' Zarif says US is 'posturing' Deirdre Shesgreen, USA TODAY The HillMattis says Iran regime is 'trying to craft a foreign policy that pushes others around' Justine ColemanSic Semper Tyrannis "If you hit them, they will behave ..." - the neocons' song. Col. W....

And so, if the youth care more for the environment than they do about money, and if ageing parents care about their money more than they do about their children, then generational looms. However, one possible way to defer this clash involves the oldest trick in the book. And that is more money for everyone; for the GND, for Medicare, Medicaid, Soc Sec, tax cuts. Enter MMT.... Zero HedgeHedge Fund CIO: "Generational Conflict Will Be The Top Theme Of The Coming Decades: Enter MMT"Tyler Durden

The Labour leader, Jeremy Corbyn, has said it could be more beneficial for the UK to be outside of the EU under the right deal. Speaking on BBC One's The Andrew Marr Show during the Labour conference in Brighton, Corbyn underlined Labour's 'credible option', referred to as 'the five pillars', which covers the customs union, the trade relationship, protection of consumer, environmental and workers’ rights and the Good Friday agreement. The Guardian UK could be better off outside EU,...

As I type this (Sunday), I am heading to Brighton, England from Edinburgh. We had two sessions in Edinburgh yesterday (Saturday) and it was great to share ideas with some really committed people. We had to dodge a Hollywood closure of the streets (‘Fast and Furious 9 had commandeered the inner city to film a car or two swerving out of control or whatever, and I hope the city received heaps for the inconvenience to its citizens. But, with the direction now south, and tomorrow’s two events...

Micheal Hudson says debt is rising faster than the GDP, and Jimmy Dore adds that investors are taken out more than they are putting in. [embedded content]

Fed issued regulatory update January 2019 here: Approximately 10% of Deposits, I never figured it would be that high... somewhat shocking...Deposits September 4 were $12,963B (Mike's report has been documenting a recent rapid increase in Deposits as bank lending growth has been pretty solid) and Reserves at Depositories were last seen rapidly dropping towards $1,300B on the poorly executed post "Debt Ceiling!" fiscal adjustments so you do the math and see why FF market became dysfunctional...