Mike Norman Economics

Monopoly power, where the customer isn't always getting the best deal. Years ago, US regulators quietly put a stop to Amazon's practice of forcing third-party sellers to offer their best prices on Amazon's platform, arguing that this practice was a blatant violation of anti-trust laws. But back in 2017, Amazon found a way to circumvent these rules by instituting "price alerts" that incentivized sellers to raise prices of their goods on rival platforms like Walmart.com. On...

Zero HedgeSigns Go Up In London Telling People Not To Sh*t In The Streets Tyler DurdenRTBellingcat unloads 4,000-word piece on Tulsi Gabbard over her questioning Syria chemical attacks Craig Murray BlogIn the World of Truth and Fact, Russiagate is Dead. In the World of the Political Establishment, it is Still the New 42 Craig Murray, formerly British ambassador to Uzbekistan and Rector of the University of Dundee ReutersPutin to Trump: We'll develop new nuclear missiles if you do The...

Navarro looking pretty strong here (takes a hack at Powell Fed too...):[embedded content] China entities obviously realizing lower prices of their goods in USD terms in response to US tariffs and this is then reflected in the weaker exchange rate...  "pumping!" non-risk reserves into the China banking system to "lend out!" not helping either...Fed last year increasing rates now in the post GFC regulatory environment, where the CCAR compliance requires more Tier1 quality assets at the...

Fair-weather strategy carries risk for investors Even the Financial Times thinks that stock buy-backs are not always a great idea, and would have preferred Boeing to have invested more in new technology instead, which would have been good for everyone - including the shareholders, the company, the country, the consumer, and the workers.Jonathan Ford says how in the end not even the shareholders gain, only the management, who can make huge bonuses from the buy-backs.CEO's make big money on...

The CNY has already breached 7. The question now is whether China is ready to let drop stand, or even allow the currency float. This article provides background that most Western articles announcing the move don't. China has apparently decided to pursue its national interest rather than let the exchange rate dominate policy.SCMPIs China about to let the yuan weaken below seven to the dollar? Also relevant Sputnik International'Chinese Will No Longer Give Priority to Controlling Trade...

Russia is meticulously advancing Eurasian chessboard moves that should be observed in conjunction, as Moscow proposes to the Global South an approach diametrically opposed to Western sanctions, threats and economic war. Here are three recent examples.... Asia TimesAttack on Iran would be an attack on Russia Pepe Escobar

Summary: We are ruled by morons and nut jobs. Strategic Culture FoundationThe Citadels of America’s Elites: Fractured and At Odds with Each OtherAlastair Crooke | founder and director of the Conflicts Forum, and former British diplomat and senior figure in British intelligence and in European Union diplomacy

Control of oil has long been a key aim of U.S. foreign policy. The Paris climate agreements and any other Green programs to reduce the pace of global warming are viewed as threatening the aim of dominating world energy markets by keeping economies dependent on oil under U.S. control. Also blocking U.S. willingness to help stem global warming is the oil industry’s economic and hence political power. Its product is not only energy but also global warming, along with plastic pollution.......

Here some nut jobs out there still think the earth is flat:[embedded content] Always good to look at different points-of-view even if the other person is insane... dialectic/platonist Liberal Art method in action....

Capture from Thursday's DTS showing TGA down to $117b that first day of the month of August... net $60B draw down of the account that day ... set a "debt ceiling!" low here previous low during the recent "debt ceiling!" interval was $139B set in late May which preceded the big June >6% rally in equity prices...Doesn't look like Treasury could have made it through September 1st or at least not safely unless govt didn't raise the debt ceiling Friday... hence Mnuchin/Trump sense of urgency...