Mike Norman Economics

Caitlin Johnstone — Rogue JournalistUniversal Basic Income + Automation + Plutocracy = DystopiaCaitlin Johnstone Mint Press NewsHow the CIA, Mossad and “the Epstein Network” are Exploiting Mass Shootings to Create an Orwellian Nightmare Whitney Webb

Marx’s eleventh thesis on Feurbach: “the philosophers have hitherto only interpreted the world in various ways, the point is to change it”, has been often taken to mean that interpreting the world and changing the world are two separate and disconnected activities…. In my view, in drawing this distinction, Marx was not referring to two separate activities, but to two separate ways of interpreting the world: one is interpreting the world from the perspective of changing it, which means...

By Cecile Gutscher, Charlotte Ryan, and Greg Ritchie A hard Brexit scares some analysts more than Corbyn as PM Sterling seen rallying if Labour-led government comes to power Investors have long been wary of the Labour leader given his desire to nationalize parts of the economy, boost borrowing and redistribute income. Yet analysts now see a Corbyn-led coalition as the best bet to avoid a disruptive exit from the European Union without a future relationship secured. Bloomberg ...

Adam Booth doesn't like MMT, but I can't see how there will ever be worker controlled, government run state.  For example, when MMT talks about the state, what kind of state is being referred to? As Marx noted in the Communist Manifesto, under capitalism, “the executive of the modern state is nothing but a committee for managing the common affairs of the whole bourgeoisie”. If we want a government that will run the economy in the interests of ordinary people, then we need a workers’...

One of the key questions in the escalating US trade disputes with China and other countries is how much the economy of other countries depends on trade. The answer helps to determine how much leverage the US has in trade disputes. Thus, it's interesting to note that starting about a decade ago, both India and China started reducing their dependence on exports as a source of growth, while doing more to build internal supply chains and relying more on domestic products.... Building national...

Interest rates represent cost of borrowing and income from saving. Both are reduced by cutting rates. Since is this is a decrease in price, it is disinflationary, which is opposite to what central bankers assume. Savers receive less income, which would likely have been spent on goods purchases. Lower of the cost of firm investment potentially results in lower goods prices. On the other hand, in deciding on a monetary policy using interest rate setting, central banks assume that lower...

Longish and detailed backgrounder on FDI in Russian economy, not just US.Checkpoint AsiaUS Is the Single Biggest Foreign Investor in Russia’s Economy Ben Aris, BNE

Reporting about MMT that is actually accurate. Winning! Yahoo FinanceMMT Has a Big Hurdle to Overcome to Succeed in EuropeCarolynn Look, Bloomberg

Frank Olson died in 1953, but, because of clandestine US government experiments, it took decades for his family to get closer to the truth I always wanted to put out the documentary here about Frank Oslon, but it was made for TV and so is a bit dramatic which I thought might come over as a conspiracy theory, but now the Guardian has covered the story I think it is okay to put out.  Frank Oslen was a patriotic Christian Republican who wanted to help his country beat communism. He was...

British planes and British bombs are spearheading the killings. Politicians and the media must raise their voices in opposition This week a report by UN experts warned that Britain could be complicit in war crimes through its arming of the Saudi Arabia-led coalition intervening in Yemen’s civil conflict. The report is the latest in a long line from the UN and the world’s most respected NGOs documenting a consistent pattern of violations. The experts note that leading arms providers...