Mike Norman Economics

Video and transcript.In this episode of their program Geopolitical Economy Hour, economists Radhika Desai and Michael Hudson explain the end of the British empire’s sterling area with the rise of the US dollar system, its central role in imperialism, and why it ultimately failed to accomplish Washington’s hegemonic goals.RADHIKA DESAI: Hello everyone. Welcome to the fourth Geopolitical Economy Hour, our fortnightly show on the political and geopolitical economy of our times....Geopolitical...

Short read. Nothing Mike has not gone into already.The LensMore on the Interest-Income ChannelStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

In October 2022, about eight months after the war in Ukraine started, the University of Cambridge in the UK harmonized surveys conducted in 137 countries about their attitudes towards the West and towards Russia and China.The findings in the study, while not free of a margin of error, are robust enough to take seriously.These are:For the 6.3 billion people who live outside of the West, 66 percent feel positively towards Russia and 70 percent feel positively towards China, and,Among the 66...

This is a useful analysis from a conservative Russian point of view of the unfolding of the present situation globally and the alternative scenarios for the Ukrainian conflict.english.almayadeen.netFrom special operation to full-scale warAlexander Dugin

Corruption watch. (h/t Naked Capitalism)Glenn GreenwaldNew SBF Indictment Exposes How Washington Really Works. Plus, Investigative Reporter Lee Fang In-Studio!EschatonEverything Is CorruptAtrios

Dud. The weapon failed to explode and to the degree it did detonate, it was a direct hit on US allies in Europe.AntiWarWhite House Believed ‘Economic Nuclear Weapon’ Would End Russian War in UkraineKyle Anzalone

The trajectory of mainstream economics can be understood in terms of how the discipline historically responded to moments of crises by attempting to “theoretically fix” the understandings related to five core “questions” of capitalist political economy – namely land, trade, labour, state, and legal-institutional framework. This involved legitimising improvements in land that led to the dispossession and the destruction of the commons, justifying free trade based on comparative advantage as...

Federal Reserve Chairman Paul Volcker is widely acclaimed as the person who vanquished and conquered inflation in the early 1980s. By implementing a monetary policy inspired from Monetarist prescriptions, he is thought as having restored the ability of the Fed to control the money supply and to bring down price instability. Yes, the economy suffered but the pain was worth it. Volcker received many accolades with Chairman Alan Greenspan considering him the “most effective chairman in the...

China criticizes the distributional structure of the US economy. China appears to be becoming more aggressive in the information war that the US has dominated until recently.ECNSRising Economic Polarization in the United States: Truth and FactsXinhua

Lots of folks telling me to just stick to MMT and STFU with all the Buddhist sh*t.