Mike Norman Economics — Feed Items
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Paul Samuelson, the author of what still might be the most-sold textbook of the post-war era had this to say on page 427 of his first edition, addressing a subject then very close to the thoughts of many of his readers:
This guy has been really wrong in hindsight … those that took his advice paid a high opportunity cost…
THE BIGGEST BEAR ON WALL STREET HAS FINALLY CAPITULATED
MIKE WILSON THE CHIEF STRATEGIST & CHAIR OF MORGAN STANLEY’S GLOBAL INVESTMENT COMMITTEE IS STEPPING DOWN AFTER YEARS OF BEING WRONG & INCOMPETENCE
MIKE WILSON HAS BEEN PREDICTING A MAJOR STOCK MARKET CRASH FOR YEARS NOW pic.twitter.com/aLey57rNj5
Episode 11 in our new Manga series – The Smith Family and their Adventures with Money – is now available. We are approaching the climax for Season 1. The final episode in the series will be published on February 16, 2024.
Have a bit of fun with it and circulate it to those who you think will benefit …
As the title says, the post is about "moving to a sustainable system of food production within a degrowth paradigm." The basis of the discussion is whether this can take place within the context of "capitalism."
Bill argues for the position that it cannot. I have set for reasons previously explaining my agreement with this view. A major reason can be summarized as "perverse incentives." Of course, it is more complicated than that but the rubric "perverse incentives" sums up Marx's notion of internal contradictions inherent in the capitalism system.
Pepe Escobar reviews Prof. Glenn Diesen's new book, The Ukraine War & The Eurasian World Order.
Escobar recently reviewed Emmanuel Todd's La Défaite de L’Occident (“The Defeat of the West”).
The reviews are short and present views that suggest the world order is changing not only politically but also economically as a result of decolonization.
China’s state-led economic development model and robust industrial policy has transformed it into what an influential European think tank calls “the world’s sole manufacturing superpower”, making up 35% of global gross production – more than the 9 next largest manufacturers combined.…
It’s wishful thinking to think it’s being driven by wishful thinking…
The EU's idea of the reform of the fiscal framework is unworkable in practice. It will lead to recession and crises and higher public deficits and debts. Instead of building the reform on hard science (incl. accounting & empirical observation), it is driven by wishful thinking.
— Dirk Ehnts (@DEhnts) January 30, 2024
I often make the point in talks that the fictional world that mainstream economists promote leads to poor decisions in the real world by our policy makers. We saw that in the 1980s and 1990s with the large scale privatisations of public enterprises, touted as employment-enriching, productivity-boosting strategies to provide ‘more money for government to spend on welfare’.
Pepe Escobar relies heavily on Michael Hudson's economic analysis for his five "variables."
Sputnik InternationalPepe Escobar: Five Variables Defining Our Future
Pepe Escobar
For the record. Warren Mosler.
Seeing the Forest
This Is How Money Works (Video)
Dave Johnson