Mike Norman Economics

France on Thursday became the first major economy to impose a tax on digital giants, with parliament passing the legislation in defiance of a probe ordered by President Donald Trump that could trigger reprisal tariffs.The new law aims at plugging a taxation gap that has seen some internet heavyweights paying next to nothing in countries where they make huge profits. Asia TimesFrance passes law to tax digital giants Hazel Ward

Falling aggregate profit rate? As James Montier, the post-Keynesian economist at GMO, the large asset fund manager, points out, real earnings growth in the corporate sector has been below the rate of real GDP growth even after the significant boost from the financial engineering from share buybacks. According to Montier, when you dig down into the market you find that a staggering 25-30 per cent of firms are actually making a loss. In Montier’s view, “the US is witnessing the rise of the...

A superb interview with Norman Finkelstein. [embedded content] Despite the propaganda Labour leads in the polls. The establishment must be getting worried.Chunky Mark - ‪Oh my god!!!, OH MY GOD!!!!!!‬ ‪Jeremy Corbyn’s Labour are a massive 6pts clear in the Polls [embedded content]

Cut below from the H.8 highlighting nsa Urealized Gains on Available for Sale Securities have already turned positive during the current debt ceiling induced bond rally.If Fed reduces the policy rate this month/year then this gain should perhaps increase an additional 10s of $B based on the magnitude of last year losses you can see here when Fed was doing a quarterly series of 0.25% increases.Rate cuts this year should have perhaps the opposite effect and then we can observe the changes...

Philip Geraldi says he's a conservative, but listen to him talk and he doesn't sound any different to me.He says that 'trickle down' doesn't work because the money goes offshore and not into the local economy, and he says how the elites have captured our governments and don't pay their taxes.He says how George Soros has taken over western governments, and how his NGO's have changed the governments in Eastern Europe too so they do as he wants.Many politicians are not interested in democracy...

Stock market goes up Trump takes full credit: The DOW, S&P 500, and NASDAQ all close the week at a new record high! pic.twitter.com/wPJiM8n7m2 — Donald J. Trump (@realDonaldTrump) July 12, 2019 Stock market goes down Trump blames the Fed!WINNING!!!!

In quantum physics two molecules can become entangled and then behave as a pair no matter how far apart they are separated. If two die become entangled it might mean that every time they are thrown their combined number always comes to 7. So, if one's a 5 the other will be 2, etc. If they are separated across the universe they will still always equal 7 no matter how often you throw the dice, but how can they communicate with each other at instant speeds, and infinitely faster than the speed...

The Bolivian government has nationalized its country's resources and key industries, but you can bet in the rest of the economy people are working hard, starting their own businesses, and doing some excellent capitalism. Except now their hard work is really paying off, and is not being syphoned off by the elite and their western backers. According to the leader, in the past, the different international organizations used to treat Bolivia as a "colony," deciding the future of the people...

Live right now. It doesn't look like this is going to end soon, but the MSM hardly reports on it. But what is it was in Hong Kong or Venezuela? [embedded content]

How dare they. There are shareholders to consider Our Western neoliberal governments are owned by the elites, for sure, but they are still cash strapped and need some revenue, and their electorate are fed up with the tax evaders with their off-shore tax havens.France and Britain are designing new tax systems that will hit the Silicon Valley hi-tech giants, like Google and Amazon, and the US is fighting back by threatening sanctions.Sanctions here, sanctions there, sanctions...