Mike Norman Economics

Naked CapitalismIs the US Underestimating China’s Space and Counterspace Capabilities?Yves Smith https://www.nakedcapitalism.com/2022/08/is-the-us-underestimating-chinas-space-and-counterspace-capabilities.htmlRT — Question More (Russian state-sponsored media)Ukraine and its Western backers should be held accountable for the ‘suicidal’ attack on Europe’s largest nuclear powerplantScott Ritter, former US Marine Corps intelligence officer, serving in the Soviet Union as an inspector...

As many of you know, I co-host a weekly podcast called the Best New Ideas in Money. This week’s episode focuses on the economy and, specifically, the debate about whether we’re in, headed for, or likely to escape a recession. I shared my own views, but the episode really features two former central bank economists—Claudia Sahm and David “Danny” Blanchflower—with different takes on where we are at the moment.…The LensThe Recession Question Stephanie Kelton | Professor of Public Policy and...

I wrote about what I am terming a ‘poly crisis’ in this recent blog post – The global poly crisis is the culmination of the absurdity of neoliberalism (July 18, 2022). I am working on material for my next book to follow up – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, September 2017). The German word ‘Zeitenwende’ means turning point. A fork in the road. It carries with it, from one interpretation, a recognition that the path that has...

The Vineyard of the SakerWhy have I stopped posting maps of the situation in the Ukraine and a few other questionsThe Saker http://thesaker.is/why-have-i-stopped-posting-maps-of-the-situation-in-the-ukraine-and-a-few-other-questions/Sputnik International (Russian state-sponsored media)Amid Cross-Strait Crisis, Taiwan’s Opposition KMT Sends ‘Fact-Finding Delegation’ to Mainland China (KMT favors peaceful...

I thought I was done writing for today, but I just stumbled across this post, and it got under my skin. It’s probably behind a paywall for many of you, so I’ll just quickly summarize.The US Treasury Department has reported that “for the first ten months of the fiscal year, which ends Sept. 30, the deficit was $726 billion, down sharply from $2.5 trillion in the same period last year. That’s a record $1.8 trillion narrowing.” …The LensThe Shrinking Deficit and Our Shrinking EconomyStephanie...

Like I said last month, the June highs would be taken out. Next target is the March highs. Meanwhile, monetarist's heads are exploding. Understanding the Daily Treasury Statement video course. https://www.pitbulleconomics.com/daily-treasury-statement/ 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/

Asia TimesUkraine – the situation (August 10, 2022)Uwe Parparthttps://asiatimes.com/2022/08/ukraine-the-situation-august-10-2022/VSOnly NATO Could De-Militarise Itself!James Tweediehttp://thesaker.is/only-nato-could-de-militarise-itself/Bracing ViewsThe Ukrainian Boondoggle as a Black HoleW. J. Astore, Lieutenant Colonel (USAF ret.), taught at the Air Force Academy, the Naval Postgraduate School, and currently at the Pennsylvania College of...

 Well, they did it. For the second time in two years, democrats in the Senate held together to pass a fiscal package via a process known as budget reconciliation. The climate, tax, and health care bill—dubbed the Inflation Reduction Act (IRA)—received its deciding vote (51-50) from Vice-President Harris on Sunday afternoon. Every republican voted against it. Now it’s over to the House, where it is expected to pass later this week, and then on to President Biden for his signature....The...

It’s Wednesday and so I write less on the blog to allow me to write more elsewhere. And, we get a chance to savour some music – today some of the best vibraphone playing that was recorded. Simon Jenkins wrote a column in the UK Guardian on Monday (August 8, 2022) – Who knows if Truss or Sunak is right on the cost of living crisis – where are all the economists? – which runs the line that my profession has gone to ground as the two Tory leadership hopefuls come out with diametrically opposed...

This is my update on today’s CPI print and some comments about psycho monetarist behavior.