Mike Norman Economics

There is no democracy in the US and there is no democracy in the UK either. British Labour Party members elected Corbyn fair and square, but factions of the Deep State - the Neocon-neoliberal  alliance - a money making racket tied to the military-industrial complex - are out to remove Jeremy Corbyn and deny the British electorate of a real choice. They want to get their guy in so to ensure it makes no difference whether you vote Conservative or labour.  Then Israel can carry its murderous...

Summing up JPMogan's findings, the bank concludes that "in terms of foreign bank exposures it appears that Spanish, French and Italian banks, as well as US and UK banks through contingent exposures, are most exposed to Turkey." The web of debt unravelling?Zero Hedge"Self-Fulfilling Contagion": This Is The Worst Case Scenario For Turkey Tyler Durden

Turkey joins Russia in declaring it is under US attack. Erdogan said those who plotted against Turkey in a failed coup attempt in July 2016 were now trying to target the country through its economy, and pledged to fight back. He did not name any countries. This is how WWIII starts. Leaders don't choose such words lightly.The US now engaged in hybrid war with China, Cuba, Iran, North Korea, Russia, Turkey, and Venezuela. Did I forget anyone?ReutersTurkey is a 'target of economic war',...

... the current case in question is quite different than any past case study in a private entity’s constitutional requirements where freedom of speech are concerned. Firstly, just a handful of big tech companies control virtually all social media platforms, effectively operating an illegal, anti-free market monopoly. This is not a normal, or even legal form of private business in the United States. Secondly, these companies are banning individuals and groups in coordination with one another...

The US Congress has revived the so-called “NOPEC” bill for countering OPEC and OPEC+. Officially called the “No Oil Producing and Exporting Cartels Act”, NOPEC is the definition of so-called “lawfare” because it enables the US to extraterritorially impose its domestic legislation on others by giving the government the right to sue OPEC and OPEC+ countries like Russia because of their coordinated efforts to control oil prices. Lawsuits, however, are unenforceable, which is why the...

"War" is in the air now. Sputnik International Iran Supreme Leader Calls for 'Swift, Just' Legal Action to Face 'Economic War'See alsoReutersIran Supreme Leader calls for action to face 'economic war': state TV

US President Donald Trump is not in control of his own administration, as evidenced by the latest round of sanctions imposed against Russia for the alleged involvement in the poisoning of the Skripals in the UK in March. The sanctions came the same day that US Sen. Rand Paul, R-Ky., announced on a trip to Moscow that he had handed over a letter to Russian President Vladimir Putin from Trump calling for better relations between the two countries.… With even further sanctions against Russia...

The official justifications for this latest set of sanctions proves that they are not the real reasons because they are too ridiculous to be taken seriously by any thinking person. The ever-changing Skripalmania story, preposterous at the outset, has descended into incoherence as the crack Russian assassination team is now said to be using public toilets to remix “novichok” to put into perfume atomisers. The OPCW certified last October that Russia had eliminated its CW stocks; who is...

Newly released declassified documents prove once and for all that CIA Director Gina Haspel oversaw torture in Thailand, which the chairman of the Senate Intelligence Committee knew all along, as Ray McGovern explains. Consortium NewsSenator Richard Burr: a Longtime Fan of Torture Ray McGovern, former US Army Infantry/Intelligence officer and 30 year CIA veteran analyst, including Presidential briefer from 1981 to 1985See alsoIntel TodayCIA & Torture — Gina Haspel Thailand Cables...

How can Erdogan get out of this currency crash? The capitalist solution is to hike interest rates to an astronomical height so that further borrowing is stopped. Then the government should dramatically cut government spending and raise taxes (ie fiscal austerity) and use the ‘savings’ to bolster the banks and meet foreign debt repayments. Turkey should also turn to the IMF for a loan – Greek style. Under IMF rules, it could borrow up to $28bn to fund future debt repayments but then be...