Mike Norman Economics

Balance sheet approach to economic analysis and its social political implications. How neoliberalism, controlled by finance capital, rules in the EZ owing to its self-imposed constraints and intransigence of finance capital to accommodate.People's DemocracyThe Yellow Vest MovementPrabhat Patnaik | Indian Marxist economist and political commentator, retired from the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University in New Delhi...

BuzzfeedOn our efforts to unite progressives in Europe and internationally: A Buzzfeed News Long Read Yanis Varoufakis Yanis VaroufakisRealistic Utopias versus Dystopic Realities – Oxford University, Taylor Lecture, 12/2/2019 Related Forbes The U.S. Cities With The Most Homeless People In 2018 [Infographic]Niall McCarthy, Contributor

MMT gets a mention. Increasingly, the mentions are not negative, just a statement of the MMT position. That's called educating the public.Looking at the US economy, things are going quite well based on money creation, both through government injection and private credit extension. This is a reason that the Fed is raising rates as part of its reaction function to balance the trend, in addition to its commitment to normalizing after the effects of addressing the global financial crisis...

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Even the neo-con warmongers’ house journal The Guardian, furious at Trump’s attempts to pull US troops out of Syria, in producing a map to illustrate its point, could only produce one single, uncertain, very short pen stroke to describe the minute strip of territory it claims ISIS still control on the Iraqi border. Of course, the Guardian produces the argument that continued US military presence is necessary to ensure that ISIS does not spring back to life in Syria. The fallacy of that...

Jimmy Dore says in another video that if you're left and you're pro war, then you're in the right. It's sickening to watch the pro war, fake liberals baiting for more war. It's like the humans in the planet of the apes worshipping the atomic bomb, the very thing that destroyed their world.I've just watched two videos where both Tom Hartmann and David Parkman are against Trump pulling the troops out of Syria, saying, Putin wins! I thought these two were supposed to be bright. [embedded...

Since I last wrote about the bipartisan shrieking, hysterical reaction to Trump’s planned military withdrawal from Syria the other day, it hasn’t gotten better, it’s gotten worse. I’m having a hard time even picking out individual bits of the collective freakout from the political/media class to point at, because doing so would diminish the frenetic white noise of the paranoid, conspiratorial, fearmongering establishment reaction to the possibility of a few thousands troops being pulled...

Following Wednesday's unexpected and dramatic full and "immediate" withdrawal of all US forces from Syria, Turkey has announced it will not play ball on Iran sanctions. According to a translation of the Turkish president's words on Thursday during a previously planned summit with Iranian President Hassan Rouhani in Ankara, journalist Abdullah Bozkurt reports, "Turkish president Erdogan says Turkey won't support US sanctions on Iran which he claims puts regional security and stability at...

No deal with China. China has already declared that it is not going to submit to US dominance, which is ultimately regime change and the demise of the Chinese Communist Party. Chimerica is effectively over.The question now is who can wait the other out? I would be betting on China.Zero HedgeStocks Tumble After Navarro Says "Agreement With China Difficult" Unless Beijing Does Full Trade Overhaul Tyler Durdenalso at ZHChinese Media Deny WSJ Report About Global Banks Cutting Ties With Huawei...

There was a time when going to war was seen as a measure to be taken only in extremis. Unfortunately, lacking serious military competitors following the collapse of the Soviet Union, Western powers decided to use the ‘unipolar moment’ to flex their muscles, with the result that they got mired in a series of apparently never-ending wars. Instead of discrediting the idea of war, these had the opposite effect – they habituated the political classes to it, so that now waging war has become...