Mike Norman Economics

I’ve been meaning to write about this topic for some time, but a Tweet the other day reminded me that there was still major misunderstandings of what Modern Monetary Theory (MMT) represents and that it was time to clarify some of those errors in comprehension. Specifically, there is a current out there that considers MMT to be incorrectly labelled because according to the argument there is no theory involved. It’s hard to imagine why anyone would think that but the fact that they do tells...

This is a subject I have avoided here up to now -  the VIP pedophilia sex rings -as it is too full of conspiracy theories, but Anne Lucas is convincing. She says psychopaths rule the world.  Is this what Putin is up against, people that are crazy and completely evil?I don't know if what Aaneke Lucas says is true, but rather than just saying it's a conspiracy theory, as many of these things often turn out to be, it needs to be discussed so we can ascertain whether it's true or not.In the...

PCR and many people are criticising Putin for not standing to the Empire, but maybe he's more clever and astute than they realize. What about the Auvergne? Is Russia engaging in strategic disinfo to avoid being drawn into trap? Catte According to an a analysis offered by Joaquin Flores on Fort Russ the recent bizarre events unfolding over Syria may have been an attempt, not simply by Israel, but also by France to draw Russia into a renewed political/diplomatic confrontation with NATO....

Strategies Have Unintended Consequences Since posting my remarks — https://www.paulcraigroberts.org/2018/09/18/can-russia-survive-her-partnerships-has-putin-made-a-strategic-miscalculation/ — other comments on President Putin’s response to the loss of Russian lives have appeared. I am providing links to two of them as examples of the negative consequences for Putin: https://www.fort-russ.com/2018/09/the-overarching-strategic-logic-behind-provocations-against-russia-2014-2018/...

PCR says unless Putin stands up to Isreal, the US, and its puppets the U.S. will up the ante in the Ukraine too, and so in the end Putin will have to fight, which could destroy the world. I am concerned that Putin, by giving in to Turkey, by covering up for Israel, by calling off the liberation of Idlib province, and by his previous non-responses has set himself up for his next test, which could be in Ukraine. By his refusal to accept the breakaway Russian republics of Donetsk and Luhansk...

In a wide ranging interview with The Hill on Tuesday conducted in the Oval Office, President Trump was asked to give his take on the biggest mistake in American history.Considering just how open-ended a question that is, it's perhaps surprising that he merely went back less than a couple decades into the Bush presidency, though Trump's base will certainly welcome it as it hearkens back to his "America First" foreign policy vision of the campaign trail.“The worst single mistake ever made in...

Uncle Sam’s failure is unsurprising. As Lord Acton famously intoned: “Power tends to corrupt and absolute power corrupts absolutely.” It doesn’t matter whether the intentions of Washington policymakers are good. The consequences of American policies have been bad, often disastrous. "The road to hell is paved with good intentions." The American Conservative Washington’s Endless Sanctions Are Finally Backfiring Doug Bandow | senior fellow at the Cato Institute and former special assistant to...

If we abolish money from economic theory, what replaces it? The answer is: financial assets. Although this might be viewed as a superficial change, there are important implications. In particular, the central bank can manipulate the amount outstanding of some types of financial assets, but it cannot control all of them. We end up with a more realistic view of central bank power. They no longer control “money” and hence all commerce, rather they are reduced to worrying about setting interest...

The recovery has since picked up speed, so the deficit should be falling especially fast right now. Unfortunately, the FRED data site does not have updated figures, but the deficit is no longer falling. Indeed it’s exploding, expected to reach $1.1 trillion in 2019. Nothing like this has ever happened in America during a period of peace and prosperity. There is such a firehose of spending that Washington is hardly able to shovel dollars out the door as fast as they are being...

Reminiscence of the Future  Some Fast Thoughts On IL-20 [Important] Andrei Martyanov The Vineyard of the Saker Russian response options to the latest Israeli provocation The Saker Dances with BearsPutin’s Forfeit – From Strategic Mistake to Strategic Defeat in 24 HoursJohn Helmer TASS France partly to blame for Russian plane’s crash, says military expert Fort Russ The Overarching Strategic Logic Behind Provocations Against Russia: 2014-2018 Padraig McGrath Katehon...