Mike Norman Economics

The HillThe 10 counties that will decide the 2020 electionReid Wilson

This is Part 2 of the series I started earlier this week in – An MMT-Green New Deal and the financial markets – Part 1 (September 2, 2019). In the first part, I discussed Chapter 12 in John Maynard Keynes’ General Theory, published in 1936, where he outlined how the growth of financial markets was distorting investment choices and biasing them towards speculative wealth-shuffling exercises, which had the potential to destabilise prosperity generated by the real economy (production,...

The FT has a similar article but it's behind a paywall so I found this. Markets are warming toward Jeremy Corbyn. Yes, you read that right. In a sign of just how unpredictable United Kingdom markets have become, analysts are starting to believe that the die-hard socialist leader of the Labour Party could be just what sterling needs in this, its darkest hour. Katie Martin - MARKETS WARM TO THE IDEA OF A LABOUR TAKEOVER IN THE UK

The Devil! New leaked documents expose for the first time a secret US Special Operations Command unit code named Task Force Smoking Gun. It has been deployed in Croatia since 2017 and tasked with diverting tons of arms and ammunition from Europe to Syria. Recently I anonymously received explosive documents about arms deals between the US Government and the Serbian state owned-arms manufacturer Krusik, including contracts, e-mails, internal memos, photos, delivery schedules, and packing...

TRNN takes an in-depth look at so-called public-private partnerships and how they funnel public money into the pockets of the ultra-wealthyNew Labour, New Democrat, they were all in on the racket! [embedded content]

Let people do what they want with “their” property… even if it causes climate catastrophe. I like it when people on the right are forthright about the implications of their beliefs, because it helps reassure me that I’m not crazy. So in a way, I’m grateful that Brendan O’Neill has published “Why shouldn’t Brazilians burn down trees?” in Spiked, because it is a good way to show how the logic of libertarianism works and why it’s so deadly. NATHAN J. Robinson - WHY LIBERTARIANISM WILL...

Another ridiculous Zerohedge post. What else?

This is important.

The World Socialist Web Site supports the Hong Kong protestors seeing in them the fight against global capitalism. But the leaders of the demonstration come from the libertarian right and their backers are rich pro-US neoliberals, so I don't think this demonstration will spread much in the way of socialism. Although the WSWS are right about exploitation in China.  The CCP, its name notwithstanding, has presided over decades of capitalist exploitation at the expense of the working class...

The recent decision by the People’s Bank of China to let the renminbi fall below CN¥7 per US dollar has little to do with trade or currency wars. Rather, it represents an important step by the PBOC toward reforming China’s inflexible exchange-rate regime.… Important because of who is saying it.Project SyndicateThe Renminbi’s Bid for FreedomYu Yongding, former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese...