Mike Norman Economics

Russia felt betrayed when NATO expanded along its borders and the installed its nuclear defence shield, says Stephen Cohen. Russia responded by developing missiles that can never be detected to beat the shield. Now that MAD was back on the table, Putin asked for new nuclear arms agreements to reduce the very dangerous tensions, but the U.S. responded with Russia-Gate instead. Stephen Cohen says this is the America's worst crisis since the Revolution.Stephen Cohen says how the CIA has...

Richard Wolff says that Trump may have seriously damaged the United States long term prosperity by banning Huawei as many non U.S companies may now want to protect themselves from similar action by reducing their business and involvement with the U.S.Huawei will now reduce its reliance on U.S manufactured parts and many other companies are likely to do the same, says Richard Wolff. [embedded content]

The article is behind a paywall, but I have found that the FT let's you read an article once before the paywall comes up. Whether this is intentional or a quirk in the system, I don't know?The article was saying that MMT had got the ECB chiefs thinking about how they could print money to help failing states without giving a free ride to the bond markets. They said that printing money would not cause inflation in an economy that is in deflation.So, MMT is now being taken seriously by the ECB...

Why aren't all these guys screaming "They're printing money?" Because they are!

Douglas Macgregor is a military policy realist. He analyzes the US military and its operational strategy (in contrast with grand strategy as implementation of policy). Reminiscence of the FutureDouglas Macgregor Hits It Out Of The Ball ParkAndrei Martyanov

How a global economic crisis could break out if the Sino-American trade war gets out of hand.While the analysis is not in paradigm with MMT, it is the way many if not most approach the issues and this cognitive bias gives a spin to behavior based on it.Valdai AnalyticsFinance as an Operational Theater in US-China Trade War Alexander Losev

I sometimes say that generalists are the most specialized people of them all, so specialized they can’t in fact do anything. Except make observations of that nature. Excerpt: In an impressively insightful image, Tetlock described the very best forecasters as foxes with dragonfly eyes. Dragonfly eyes are composed of tens of thousands of lenses, each with a different perspective, which are then synthesized in the dragonfly’s brain. I am not sure Epstein figures out what a generalist really...

Some philosophy in the broad sense that is neither MMT nor economics-related but important owing to its contemporary relevance in determining the social, political and economic dialectic that the world is experiencing at this point in time and which is shaping the future for some time to come.Are we in another Gramsci interregnum? The crisis consists precisely in the fact that the old is dying but the new cannot be born; in this interregnum a great variety of morbid symptoms appear. — A....

Interesting reveal in latest Fed minutes where we can now see the FOMC exhibiting some understanding of the Accounting relationship between the Treasury General Account fluctuation and Reserve composition here; excerpt: The deputy manager reviewed developments in domestic money markets. Reserve balances declined by $150 billion over the intermeeting period and reached a low point of just below $1.5 trillion on April 23. The decline in reserves stemmed from a reduction in the SOMA’s agency...

Bloomberg View The New Assange Indictment Endangers JournalismEli Lake RT'Modern fascism is breaking cover': Journalists react to Assange Espionage Act charges Buzzfeed Legal experts say the new indictment against Assange is the first time the Justice Department has used the Espionage Act to charge a third party — not the government leaker — with publishing classified information. Press Freedom Groups Say The New Charges Against Julian Assange Are A Threat To JournalistsZoe Tillman The...