Mike Norman Economics

There were two headlines on Australia’s national broadcaster, the ABC’s news site this morning that tell us that there has been little progress made in helping people better understand the way the monetary system operates and the capacities of the currency-issuing government within it. Both articles merely rehearsed the standard mainstream fictions, which makes them dangerous, in that they perpetuate the system that has held the world back from addressing its major challenges. By creating...

How Western analysts and leaders confuse their projections, here about China, with reality, hnece, fail to grasp what is actually happening. This violates Sun Tzu's first precept: know yourself and know your adversary. (Art of War, 3:18)Uwe Parpart that Xi is not resurrecting Mao and moving away from Deng, in fact, just the opposite.Ideologically blinded Western analysts and officials consistently miss the point. China’s state is the least ideological, most ruthlessly pragmatic entity in the...

 In the second and last part of the interview, MMT economist Fadhel Kaboub explains why and how India should urgently work on an alternative framework of development that leaves no one behind.News ClickUniversalise Public Services, Fund Job Guarantee, Provide Generous Income Support’ Sowmya Sivakumar interviews Fadhel Kaboub

The government borrows at a price of its choosing.New WaylandHow to fix the government's borrowing costs NeilW

Summary of economics since William Petty in a few paragraphs viewing marginalism as a boondoggle.Thoughts On EconomicsA Short HistoryRobert Vienneau

This was pretty obvious. Vacuums get filled.TASS (Russian state media)Chinese companies rush to fill empty niches in Russia — [Russian-Asian] Union [of Industrialists and Entrepreneurs (RAUIE)]

In modern states, demand for currency comes from the ongoing self-imposed liability for the currency. There is no need to pay savers in order for them to desire to hold the currency (interest on sovereign bonds issued for “deficit spending”). Any justification for doing so must rest on some other perceived benefit of paying savers....ClintBallinger.comHow About a Nice Game of Chess?Clint Ballinger

Energy price wars.RT (Russian state-sponsored media)Türkiye lambasts US for ‘bullying’ own ally

Numbers. Do US leaders know this?Zero HedgeThe Middle Class Is Dying! 50% Of All American Workers Made Less Than $3,133 A Month Last YearTyler DurdenAlso at ZHUS Support For Ukraine Challenged By Rising Gas Prices

Further undermining the trust that is foundational to the global economy as the sanctity of property is jettisoned. Freezing assets is one thing, and confiscating assets for use is entirely different matter.RT (Russian state-sponsored media)EU wants to use 'frozen' Russian assets to finance Ukraine