Mike Norman Economics

Richard Wolff takes a balanced look at immigration. Don't blame the liberals for it. It's a subsidy for the rich. [embedded content]

I can't get my head around Ron Paul as he should be a socialist. He's very emphatic. A friend of his died a little while back when he needn't have because he didn't have sufficient medical insurance, but Ron Paul wouldn't change his mind about private healthcare.John Bolton says the U.S is going to save the Venezuelan people but the U.S. isn't going to pay for it, so they will seize the oil fields. He says Americans and the Venezuelan people will do well out of it, but Ron Paul hopes they...

The end of America’s unchallenged global economic dominance has arrived sooner than expected, thanks to the very same Neocons who gave the world the Iraq, Syria and the dirty wars in Latin America. Just as the Vietnam War drove the United States off gold by 1971, its sponsorship and funding of violent regime change wars against Venezuela and Syria – and threatening other countries with sanctions if they do not join this crusade – is now driving European and other nations to create their...

Mentions MMT positively as a tool. The reality is that there is no proposal on the table articulated in the detail needed to address the issues. This requires comprehensive statement of a design problem and a design solution. The reason is that key pieces are missing so far owing to the huge scale involved and the size of the emergent challenges. Have the green new dealers faced up to this adequately? Most of what is being mentioned is the low hanging fruit, and that is not sufficient...

Cullen has said all this previously in blog posts, and he summarizes his take in this one. His views have been addressed previously at MNE.Pragmatic CapitalismMMT – The Good, the Bad and the UglyCullen Roche

“America’s strategy when it comes to China is easy to understand: crush them. Drive them into the ground. Make sure that they can’t undo American power and influence not just in Asia but around the world. That’s Trump’s goal, and he is doing one hell of a job. I couldn’t be happier.” That’s the response I received over drinks when I asked a former senior Trump administration official—speaking on background—what Washington’s strategy was when it comes to the People’s Republic of China.… The...

If you read only one MacroTourist post all year, this is the one I want you to read. I think it’s that important.... Throwing in the towel. I agree with Ben that MMT will change the type of inflation the economy experiences. I will leave it to much smarter people than I to decide if this is a good or bad thing. In the meantime, in the coming months, quarters and years, watch for MMT to become a much larger source of change for your portfolio and trading. You might think it’s great and that...

The message to the CCP: Abandon control of the commanding heights. Will China buy it? If it does, it's the beginning of the end for China socialist experiment, as Michael Hudson warned on his recent visit there. Hudson was particularly strong on not opening up financially, which it seems, on the surface at least, that China has already committed to do.If it does, China goes full-on capitalist. This hardly means that China becomes a permanent US vassal, however. The driving force is...

Gordon Dimmack says that Rachel Maddow is more dangerous than Alex Jones.She's crazy! She must have millions stashed away, so why would she want to risk blowing the whole planet up? What goes through her mind?Bernie Sanders, Chris Hedges, and Ed Miliband say they are not liberals, although they hold some liberal values. I used to wonder what they meant by that, but I think I now know what they mean. People like Abby Martin and Jimmy Dore have a very strong sense of right and wrong, but...

Will the US sanction its European NATO allies? Don't put anything past the US. Secretary of State Mike Pompeo previously warned of “swift punishment” for countries doing business with Iran, thus INSTEX is seen as a first small step toward greater European economic independence, and toward calming Iranian criticisms centered on seeing "dollar domination" as fueling European weakness to follow through on JCPOA stipulations.... Zero HedgeEurope Launches SWIFT Alternative To Send Money To Iran...