Mike Norman Economics

Classical economics, including Marx, focused on economic value in real terms, i.e., a non-monetary ground for economic value expressed in markets in nominal terms as prices. That recognized that value is based on some "good" that is actual rather than nominal. One way to do this is through a numéraire, such as gold or silver. A problem here is that monetary metals don't have actual economic value in real terms that isa determinative in production. Rather, their nominal value is...

I don't need algo's. I have better understanding and insight.

Is it good cop - bad cop, or is there a tug of war in the Whitehouse? Donald Trump has said he cancelled an airstrike on Iran with 10 minutes to go because it would not have been proportionate to kill 150 people in retaliation for the downing of an unmanned US drone. “We were cocked & loaded to retaliate last night on 3 different sights when I asked, how many will die,” the US president tweeted on Friday. “150 people, sir, was the answer from a General. 10 minutes before the strike I...

They sometimes call the Tory Party the Nasty Party. [embedded content]

Excerpt from the Fed's audit statements for CY 2018: “The Reserve Banks provided for remittances to the U.S. Treasury of $65.3 billion in 2018, including two lump-sum payments totaling approximately $3.2 billion that were necessary to reduce the aggregate Reserve Bank capital surplus to $6.8 billion as required by the Bipartisan Budget Act of 2018 and the Economic Growth, Regulatory Relief, and Consumer Protection Act.” So for all you lawyers out there, latest law in 2018 directs Fed to...

TYT were always good, but I went of them a bit when they started pushing Russia-Gate, but recently they've been getting better.Pompeo and Bolton are shouting war, but Trump is trying to de-escalate the situation with Iran after they shot down a U.S drone by saying it was probably an accident and that no one got hurt. This must madden the neocons.Trump seems to be doing almost everything the neocons and the military industrial complex wants, and yet the media and the establishment are still...

With sanctions re-imposed on Iran’s oil exports last year and recently applied in part to its petrochemicals exports as well, the U.S. is now looking to roll out the next phase of its sanctions plan against the Islamic Republic. This is to gradually employ increasingly tight sanctions on Iran’s gas sector, whilst ensuring that Europe’s mechanism for enabling ongoing business with Iran does not succeed. These policies taken together are aimed at limiting Iran’s energy export revenues to no...

Bank reserve flows again.

The Intercept‘s bombshell about Brazilian corruption is being ludicrously spun by the country’s media and military as a “Russian conspiracy,” writes Pepe Escobar... Consortium NewsPEPE ESCOBAR: Brazilgate is Turning into Russiagate 2.0

Total Tech review tech products, do tutorials, and have a huge following. They seem to think that it's curtains for Google now, and that the Trump administration made a massive blunder.Huawei was prepared for such a ban and have been developing their own OS system for a number of years now. It's open source, 60% faster than Android, app makers can put their apps on it for free, and it CAN'T BE HACKED BY THE NSA! A big plus, says Total Tech.Total Tech says people tell him that the U.S. will...