Mike Norman Economics

On June 26, the Trump administration’s so-called “Special Representative for Venezuela,” Elliott Abrams gave a five-minute update to reporters about the development of the coup attempt against the government of Nicolas Maduro, followed by a brief Q&A session. The event, held at the US State Department in Washington, was textbook Abrams: full of lies, loaded language, double standards and breathtaking hypocrisy. Below, I deconstruct each of his points by providing rebuttals, context and...

What we’re not encouraged to do is to criticize or even to question America’s vast military establishment and its enormous power, even though President Dwight D. Eisenhower warned us about that establishment in his famous farewell speech in 1961.It’s high time we Americans listened to Ike as well as to J.W. Fulbright. Let’s give the latter a close listen, shall we?… I stumbled across Senator J. William Fulbright’s 1970 book The Pentagon Propaganda Machine and, out of curiosity, bought it...

The Trump administration’s incessant sanctions wars are curbing the dollar’s global hegemony and speeding the demise of U.S. empire. Consortium NewsPATRICK LAWRENCE: Weaponizing the Dollar

How does uncertainty affect the economy? The authors of an Economic Synopses essay examined this question, and their findings support the view that firms and households delay spending when uncertainty increases. The essay was written by Laura E. Jackson, an assistant professor at Bentley University; Kevin L. Kliesen, a business economist and research officer at the St. Louis Fed; and Michael T. Owyang, an economist and assistant vice president at the St. Louis Fed.... As Keynes said.FRBSL...

Unqualified Liberal Art dialectic trained morons at CBO using two different Basis of Accounting; using Modified Accrual Basis to do their illustration then using Accrual Basis for evaluation.Same story different day... nothing changed... these morons never make an adjustment, dialectic trained moron people never adjust to a miss, they synthesize; often with the false...rinse and repeat..Federal debt is expected to rise from 78% of GDP in 2019 to 92% percent in 2029 and 144% in 2049, the...

The Chinese system is neoliberalism with Chinese characteristics, says Pepe Ecobar, but Ed Conway says the way the Chinese have increased prosperity for its population over the last 30 years is phenomenal.The US sysyem of endless war is not working for them.Pepe Escobar says that the socialists don't really have the leaders to bring about change, and that Corbyn and Sanders will need panels of experts to help themI was thinking, say I got into politics and was very successful at it and got...

Last week’s (July 5, 2019) release by the US Bureau of Labor Statistics (BLS) of their latest labour market data – Employment Situation Summary – June 2019 – reveals a steady labour market with month-to-month volatility. The US labour market is still adding jobs, albeit at a slower pace than last year. The unemployment rate remains low (at 3.67 per cent) and the participation rate has moved up a tick, which is a good sign. It is also clear that there is still a substantial jobs deficit...

Michael Roberts BlogGreece: completing the vicious circleMichael Roberts FRBNY — Liberty Street EconomicsFrom Policy Rates to Market Rates—Untangling the U.S. Dollar Funding MarketGara Afonso, Fabiola Ravazzolo, and Alessandro Zori The Political Economy of DevelopmentTwo types of freedom Nick Johnson Dances with BearsWILL THE UKRAINE PARLIAMENT ELECTION REVERSE THE MAIDAN PUTSCH, DRIVE THE GALICIANS FROM POWER?John Helmer On the EconomyMore evidence–this time from CBO–that higher (even...

A lot of action starting this month thru the end of September.

Mike Pompeo?PoliticoMike Pompeo unveils panel to examine 'unalienable rights' Caitlin Oprysko