Mike Norman Economics

Pretty big snap back for Philly Fed in June on the $139b TGA bottom (Reserve Asset top) beginning of the month... remember Mike called June 6th...Policymakers currently trying to stabilize TGA around the $200b level using Extraordinary Measures in advance of a deal to suspend the Debt Ceiling again... having so-so success...Philly Fed Survey Soars To 12-Month Highs, Jumps Most In A Decade https://t.co/QcEPiXnqNb #Money #Finance #Economics #Market— Alen Karabegovic (@AlenKarabegovic) July...

Why is it that just 1p of a £2.50 cup of coffee goes to the farmer who cultivated and harvested the coffee beans? Open Democracy Imperialism in a coffee cup John Smith

Another paradox of liberalism arising from equation of economic liberalism with capitalism and of economic liberalism as equatable with political liberalism as representative democracy. The rise of interest in social democracy now no accident of history but rather a logical progression of the historical dialectic?Flassbeck EconomicsThe Great Paradox: Liberalism Destroys the Market Economy Heiner Flassbeck

Backgrounder.  My view is that NK likely will move toward the Chinese system of market socialism with Chinese characteristics, but in NK it will be with NK characteristics. Kim Jong Un had already liberalized quite a bit, so this would not constitute an about-face but rather a speed-up of development. Kim Jong Un seems finally to want to join the world economy, which is why he is negotiating with Trump at all, in the face of resistance from the US deep state and military trying to...

ChiComms: #PBOC injects 100 bn yuan via open market operation (7-day reverse repo) on Thursday — YUAN TALKS (@YuanTalks) July 18, 2019 Japan: BOJ's Kuroda says will continue with powerful monetary easing persistently https://t.co/tP1SoajzfC — ForexLive (@ForexLive) July 18, 2019 Black Eyed Peas:[embedded content]

The alternativel news media is under attack again. And a pro Assange group was taken down from twitter. The simultaneous escalation of censorship of Julian Assange’s support base, alongside the latest wave of fact-free attacks on Assange and WikiLeaks‘, raises concern about a coordinated effort to smear Assange while silencing those who counter such dubious reporting. “Our website is completely down. Our media host said we have been attacked by malware. They actually tried to blame ‘the...

Another superb interview by Renegade.inc.Who could not want to give MMT a try after hearing this? [embedded content] It was Victor Hugo who said that all the forces in the world are not so powerful as an idea whose time has come. In the US, inequality and collapsing capitalism means the idea of embracing a socialist politician is gathering momentum. The cynical stock response to how socialism can deliver on its economic promises is to ask, ‘but how do you pay for it?’ Economists advocating...

China zooms ahead knowing you can't have a good economy and a high standard of living without industry and technology, but in the West the One Percent make more money through rent extraction, and so feel no need to invest and innovate.Sadly, lots of other peoole, including small businessmen, support the present system thinking it is true capitalism, but there would be more rich people and more entrepreneurs if we moved towards a social democracy with a robust welfare state.The West is being...

BRI and the New Silk Roads (land and maritime).The Vineyard of the SakerWestern intellectuals freak over ‘Frankenstein’ ChinaPepe Escobar

If we look at the full history of financial crises around the world, one could argue that crises related to external debt and/or fixed exchange rates are dominant. Such crises could represent an entire chapter of this book. However, I will only offer a brief overview of the subject. From the perspective of recession forecasting, the addition of a fixed exchange rate regime adds a new wrinkle to analysis: at what point will the peg fail, causing a crisis? As I will discuss below, this is...