Mike Norman Economics

Thomas Piketty "Entrepreneurs will have millions or tens of millions," he said. "But beyond that, those who have hundreds of millions or billions will have to share with shareholders, who could be employees. So no, there won't be billionaires anymore. How can we justify that their existence is necessary for the common good? Contrary to what is often said, their enrichment was obtained thanks to these collective goods, which are the public knowledge, the infrastructures, the laboratories of...

This is all a complete OPEC scam to get the oil price up in USD terms... let's hope Trump can see right through this ... Saudi's full oil supply could take weeks to resume: source https://t.co/chY6wZRCA5 pic.twitter.com/sC15SgG4ex — Reuters Top News (@Reuters) September 15, 2019

The qualified/competent are leaving to get a better job/pay and the entry level people are all on drugs and booze so they can't get hired...This is potentially a VERY "inflationary!" condition if the government starts throwing munnie around at the construction industry...  everybody is going to start bidding up qualified/competent labor...Situation contained for now but fiscal and monetary have been far from ideal for the last 18 months... Election year might prove different...Record number...

300k dead from booze 4x US drug ODs... Everybody drunk or on drugs...  causes labor shortages and reduces growth... JG won't help... #RealTermsAlcohol killed 291,000 people in 30 European countries in 2016, more than 10 times the number of deaths caused by traffic accidents in the EU that year. The U.S. opioid epidemic only kills about a quarter as many people every year https://t.co/0quiD7ry4E— Bloomberg Opinion (@bopinion) September 14, 2019

This guy gets it wrong about printing money and the national debt (another video), but this is very interesting: US companies do very well in China selling a lot of services, which almost counters the trade imbalance.Donald Trump has been dialing up the tariffs and the rhetoric around the ongoing trade spat with China. Yet Xi Jingping has held a firm line and has been unwilling to fold to increasing pressure from the US. Donald Amstad from Aberdeen Standard Investments believes that Trump...

Capitalism Doesn’t Make Us Rich, and Socialism Doesn’t Make Us Poor — Socialism Makes Us Rich, and Capitalism Makes Us Poor.  I agree with Umar, social democracy (he calls it socialism) has liberated Europeans. The liberty Ron Paul talks about is the freedom of the few to be able to exploit and enslave the many.  In Europe, though, the story was very, very different. Socialism, not capitalism, organized the provision of the essentials of life — and both paid people fairly and...

Martin Sieff is exactly right on this IMHO, recalling his boyhood experience in Belfast as precedent. The protestors and West believes that Hong Kong is a vital resource for China, but they apparently do not realize that this is no longer so. Hong Kong's contribution to the Chinese economy has shrunk greatly, and China has already been planning to replace it with Shanghai as a financial center, as it use to be, and other centers on the mainland. Reports reveal that Hong Kong is already...

The final Mario Draghi press conference had him underlining the importance of fiscal policy. Since I am supposed to be working on my slides for my presentation in the panel "MMT: Who is Listening?", one might argue that it looks like a lot of people. However, it is unclear how significant the shift in opinion is from a practical perspective.... Bond Economics The Pivot To Fiscal?Brian Romanchuk

Spiegel Online (Germany)'If I Happen to Fall out of a Window, You Can Be Sure I Was Pushed'Martin Knobbe and Jörg Schindler interview Edward Snowden in RussiaSputnik InternationalSputnik International Edward Snowden Opens Up About His Life in RussiaThe Guardian (UK)I was very much a person the most powerful government in the world wanted to go away’ Interview by Ewen MacAskill, video by Laurence Topham Sputnik InternationalPermanent Record: Edward Snowden Sounds the Alarm on ‘Greatest...

Checkpoint AsiaThe US Massively Underestimates the Trade War Blowback Robert Berke Politico Israel accused of planting mysterious spy devices near the White House Daniel Lippman Sputnik InternationalHuawei Developing Its Own Tech Solutions to Offset Sanctions Grasping RealityWeekend Reading: Charles Kindleberger: Anatomy of a Typical Financial Crisis Brad DeLong | Professor of Economics, UCAL BerkeleyThe Unassuming EconomistManufacturing Jobs and Inequality: Why is the U.S. Experience...