Mike Norman Economics

There was an article in the Project Syndicate (July 1, 2019) – Does Japan Vindicate Modern Monetary Theory? – written by a Yale economics professor and advisor to Shinzo Abe, that reveals the extent to which the mainstream is becoming paranoid and is failing to understand what MMT is about. I won’t deal with it in detail because it is not my brief today. But it aims to disabuse readers of the notion that “Japan … [is] … proof that the approach works.”The approach he refers to is MMT....

A.I. is more efficient than generals commanding a war, more efficient than city traders, and can do much of what lawyers and accountants do. Everyone will be affected by A.I., except for builders, plumbers, and electricians - for now! [embedded content] Automation is set to be one of the major issues facing humanity in the future. So how do we solve the problem? Andrew Yang has a decent proposition: Universal basic income. In this video, we check out the pros and cons of this future.

Many people are realising now that the liberal press is just propaganda. Last year, Media Lens wrote: It is obvious that the right-wing press – the Daily Mail, the Sun, The Times and Telegraph – play a toxic role in manipulating the public to favour elite interests. But many people are now realising that the liberal press is actually the most potent opponent of progressive change. Commenting on why the Guardian appeared to have misread the public mood in its attacks on Jeremy Corbyn,...

Slugging it out... After OPEC endorsed another nine months of production cuts, Saudi Oil Minister Saudi Al-Falih made clear he's ready for a long struggle with the U.S. shale industry,#OOTT #OPEChttps://t.co/Bs7lhYexH9 — Will Kennedy (@wenkennedy) July 2, 2019 US setting production records every month:US crude production reached a record 12.16 mb/d in April, up by ~250 kb/d MoM and 1.7 mb/d YoY #OOTT Production growth from 'shale states' was up by 1.3 mb/d YoY, driven by Texas, New Mexico...

Now they are "draining!" after a month of "pumping!"...  at least they are reducing system reserve assets a small amount... should help the commies a bit... #PBOC skips open market operation on Tue. 90 bn yuan is drained from the market as reverse repos come due. — YUAN TALKS (@YuanTalks) July 2, 2019

Kevin Kavanagh wrote in the Sun yesterday: 'Forget his age, Jeremy Corbyn is unfit to be PM because he prizes the interests of Britain’s enemies above our own'  The article then went on to say that Kim Jung-on had executed one of his senior officials for failing at the arms negotiations with Trump. So, this is as ruthless as the Queen in Alice in Wonderland who flippantly cuts off the heads of anyone she doesn't like. The dark state, the enemy - those bad commies!Well, I did search on this...

Remember weapons of mass destruction related program activities? The Mueller Report is cut from the same cloth: The Mueller report should have been a knockout blow to anti-Trump forces who invested their hopes in the special counsel. With Robert Mueller’s finding that the Trump campaign did not conspire with Russia to steal the 2016 election and that there was no clear path to indicting the president for obstruction, the enterprise should have shuddered to a stop. Instead, those who were...

Comfort is the killer of growth and success.

Libya has been off the front page in the Western MSM but it is still highly relevant to the situation in the Middle East and Northern Africa, hence, significant to geopolitics.Fort RussLibya: Marshal Haftar loses Gharyan HQ and Declares War on Turkey Strategika 51, translated by Steve Brown

Former CIA "operative" Graham E. Fuller comments on Stephen Kinzer's article posted previous at MNE today. Fuller post also contains a complete copy of the Kinzer article.Once the financial and economic elite ("the wealthy") on the both sides of the political divide conclude that present policy is costing them more than they are getting out of it, policy begins to shift. The question is whether they have deeper pockets than Sheldon Adelson and the Mercer family.Fuller is all for it, and he...