Mike Norman Economics

The geoeconomic pathway away from the neoliberal order is fraught with peril, but the rewards in establishing an alternative system are as promising as they are urgent,...The CradleMichael Hudson: A roadmap to escape the west’s strangleholdPepe Escobar interviews Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest...

The reality is that the decision to cut production is completely rational from the point-of-view of OPEC+. With interest rates rising quickly and growth slowing, Europe, which makes up around 19% of total oil consumption, is almost certainly facing down a serious recession next year. There is also a risk that the United States and Canada will fall into recession at the same time — these countries make up a further 27% of total consumption.OPEC+ does not want to see history repeat itself. In...

A young girl on Tik Tok apparently gets it. More intelligent than Powell, Yellen and probably everyone in Congress. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/ Understanding the Daily Treasury Statement video course....

Availability of real resources and inflation. Fertilizer shortage results in higher food prices. Angry BearWe Really Need to Talk FertilizerMichael SmithSee alsoInflation results in increases in managed economies in areas where the market economy is insufficient, notably energy. Food is another candidate in that it is a vital resource. This is characteristic historically of wartime economies.Project SyndicateThe State Is Taking Back EnergyNick ButlerAlso at PSGermany’s Emerging War...

Well things are going to get messier with the decision yesterday by the OPEC+ cartel to significantly reduce the oil supply and push up prices. On the one hand, when OPEC was first formed and pushed prices up, while there was significant disruption to oil-dependent nations, the substitution that followed (home oil heating abandoned, larger cars replaced by smaller cars, etc) was ultimately beneficial. So given that we need less cars on roads and less kms travelled by cars, one might consider...

Here she actually exhibits a better introductory understanding of these flows than most Art Degree PhD economists and  Jurist Doctorates:Your move, IRS pic.twitter.com/q5PrD1vaWO— Not Jerome Powell (@alifarhat79) October 5, 2022 Doesn’t give herself enough credit and gives up too easily but she’s starting to exhibit a better understanding than the morons in charge we see out there everyday...

It's foolish and dangerous to just blindly accept the mainstream and government narrative at times. Jeffrey Sachs on Bloomberg talking about Nord Stream destruction. (Starts at 4:46) https://youtu.be/o5m8m9RNxjw Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/understanding-daily-treasury-statement-video-course/?s2-ssl=yes

OPEC+ shocked the market by cutting output 2 mbd. Will remain in effect for a year.

 Mostly about energy and the stupidity of imposing an oil price cap.Moon of AlabamaEU Pushes For More Sanctions Which Will Come Back To Bite ItSee alsoEurope is coming apart at the seams. And it is only just beginning to get cold there.The CradleUkraine’s revenge on the West M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador

It’s Wednesday where I examine in short a few items that came to my attention in the last week and then retreat into the music segment. Yesterday, the Reserve Bank of Australia raised interest rates for the sixth time since May 2022. This time the increase was 0.25 per cent and the current cash rate target is 2.6 per cent. The below-expected increment has been hailed as the first central bank to ‘turn’. It tells me the RBA is now scared it has gone too far in its ridiculous show of power. It...