Mike Norman Economics

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...

The cyberattack used a botnet of 30,000 computers situated in 86 various countries... TASS Russia registered most powerful cyberattack from abroad on presidential election day

Accidental bug or intentionally built-in feature? Regardless, that's what happened is happening. Since 9/11, constitutional rights and civil liberties have been diminished significantly.Strategic Culture FoundationHow Russia-gate Rationalized Censorship Joe Lauria

MAGA (Make America Great Again) was a campaign promise that sold Trump. Andrei Martyanov observes that "the real Donald J. Trump" consistently believed in MAAA (Make America Aggressive Again). Now that the campaign mask is off, his erstwhile supporters who voted for him expecting MAGA are wondering what happened to him. Nothing happened to him. He appointed the neocon cabal to power. He was always like that.Reminiscence of the FutureMAGA All The Way. Andrei MartyanovSee alsoMoon of...

I have been saying something like this for some time. The American Empire is overextended and the strategic need is to withdraw to the core, which is the Western Hemisphere. Owing to logistics, and war is largely determined by the parties with logistical advantage, the US is disadvantaged by operating away from the Western Hemisphere, but it can easily control its own hemisphere militarily owing to logistical advantage. This is especially the case now that both Russia and China have...

Everyone thinks the Fed caved to the bulls. They didn't. They actually did something quite negative.

Richard Murphy has always said that MMT supporters do not properly understand tax and Jonathan Portes seems to me, on the evidence of this article, to fall into the same category. What Jonathan Portes misses is that the ‘financial constraints’ are self-imposed. It’s bad enough – in reality – being short of teachers, nurses and doctors. But having bogus self imposed financial constraints is just – well – self imposed.Finance is man made. Jonathan Portes, as a former Treasury civil servant,...