Mike Norman Economics

The Hong Hong protestors have every right to peacefully protest and their demands for more democracy should be supported. We would hate in the West the type of control over the Internet that the Chinese government has.But there's a problem: democracy means an oligarchy ruled by the elite, so we don't really have much of a fully functional democracy in the West either.If China went fully democratic, the Western elite would go straight in there and buy up the media to put out its propaganda....

Guaido envoy Vanessa Neumann was caught on tape offering to relinquish Venezuela’s historic claim in exchange for backing  from London. It's not about democracy, it's only about the oil. The people of Venezuela wouldn't get a say under Guaido.  The move comes as a recorded phone conversation between Neumann and Avendaño was released on Friday, in which the former can be heard advising Guaido’s Venezuela-based team to “drop” the “official [government] line that we want to take control...

Paul Singer is ready to wait more than 2 years for his reward.

Investigation finds that serial numbers on weapons captured in Syria match those purchased by US officials in Balkans I recognise the name of Dilyana Gaytandzhieva now, she was the one that exposed the chemical and biological weapons labs that the US has surrounded Russia and China with. I reported on this here a few years back.  This article is based on the reports I put out recently.  A recent investigation has uncovered explosive evidence that the US is supplying weapons to...

Craig Cesal was sentenced to life in prison for a first-time drug offense. He currently resides at a federal prison in Terre Haute, Indiana. I was never alleged to have bought, sold, or even used marijuana. Rather, my business repaired semi-trucks for a company that trafficked marijuana. I didn't think I was doing anything wrong as I didn't do anything with marijuana. I was wrong, according to the federal court in Gainesville, Georgia. My business, nestled near Chicago, was...

It's a good thing, not a bad thing.

More than a decade after the global financial crisis, macroeconomists have failed to absorb three crucial sets of lessons. Their models are still struggling – and mostly failing – to cope with disruptive change, and with the fact that both balance sheets and inequality matter.… Stating the obvious but it that most at the top don't get it yet. Project SyndicateWhat Economists Still Need to LearnMark Cliffe is Chief Economist and Head of Global Research of the ING Group. Also of interest...

Morning Star editor Ben Chacko speaks to BILL MITCHELL about the new hypothesis disproving the core assumptions of neoliberalism A good interview of Bill Mitchell from the Morning Star.Art installation : Neoliberal Pay and Sit Bench [embedded content] A Shift away from a neoliberal fixation with jobs providing profit would allow a more rational approach. In his 1980s book on walking Britain’s coast The Kingdom by the Sea, Paul Theroux notes the Thatcher government’s determination to...

Last week’s (August 2, 2019) release by the US Bureau of Labor Statistics (BLS) of their latest labour market data – Employment Situation Summary – August 2019 – reveals a labour market performance that is below the performance achieved in 2018 although there has been considerable month-to-month volatility. The US labour market is still adding jobs, albeit at a slower pace than last year. The Broad labour underutilisation ratio (U-6) remains high even though the official unemployment is...

This just out for 2Q... not very timely fwiw...  banks were starting to realize some gains in their out sized  portfolio of CCAR Tier1 quality asset due to moron induced "debt ceiling!"  bond rally... but the stall/reversal in rates has also stalled their rate of increase in Net Interest Income ofc...  can't have it both ways...   overall not too shabby considering the shitty monetary and fiscal policy conditions that quarter.. Highlights: • Net Income Rises 4.1 Percent to $62.6 Billion on...