Mike Norman Economics

Michael Hudson levels on Europe. Finished.Vineyard of the SakerMichael Hudson gives an interview to a German magazineMichael Hudson interviewed by German print magazine “Four”This interview is also posted at Naked CapitalismMichael Hudson Discusses the Future of Europe and Global Restructuring

We'll be going back up sooner than I thought.

As Michael Hudson has been saying forever.A dismal piece of Washington Post propaganda gearing up for a postwar, fully neoliberalized Ukraine leaves readers precisely where Jeff Bezos would want them, writes Patrick Lawrence.But they are "our guys." Consortium NewsThe Autumn of Oligarchs in UkrainePatrick LawrenceSee alsoMultipolaristaZelensky is literally selling Ukraine to US corporations on Wall StreetBen Norton

In the aftermath of the 2007 crash Katharina Pistor“sought to discover what lay behind finance’s stupendous expansion in recent decades, and what accounted for its steep fall”. Her specialty is law, and her book is first of all about how “law has been put at the service of capital”, especially during the last two centuries (and above all in recent decades). Beyond that, she argues that capital is the product of law: “Most observers treat law as a sideshow, when it is the very cloth...

I told you 3 months ago it would happen in December. No big deal. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.mmteconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

China's BeiDou Navigation Satellite System (BDS) has become the top guidance service provider for domestic Gaode Map, according to a statement released by the Beijing Institute of Space Science and Technology Information on Wednesday.Based on the average number of satellites called by domestic navigation apps for each positioning, BeiDou satellites have been called the most, 30 percent more than the second-ranked GPS, the China Media Group (CMG) reported....BeiDou playing a dominant role in...

Marx sets his theory of value within the capitalist (or bourgeois) mode of production:"The wealth of those societies in which the capitalist mode of production prevails, presents itself as 'an immense accumulation of commodities'..." (Marx 2010, first sentence of chapter 1)Feudal societies, with lords and serfs, and classical societies, such as the Roman empire with its slaves, present other modes of production. Although this exposition starts from the same point as Marx, it deviates from...

A scholarly study found that British colonialism caused approximately 165 million deaths in India from 1880 to 1920, while stealing trillions of dollars of wealth. The global capitalist system was founded on European imperial genocides, which inspired Adolf Hitler and led to fascism.…MultipolaristaBritish empire killed 165 million Indians in 40 years: How colonialism inspired fascismBen Norton

Let’s wrap things up. As a rule, your best bet for understanding the real world is to forget what you read in economics textbooks. Instead, pay attention to what the powerful say when they talk amongst themselves.On that front, CEOs have been explicit that inflation isn’t some exogenous force, driven by the money supply. It’s a game that they actively play.As a case in point, take William Meaney’s recent comments to investors. Meaney, the CEO of an information management company, claimed...