Mike Norman Economics

Reminder that MMT is based on availability of real resources for sale (stuff), not their nominal values in the market (prices). In monetary production societies, economics is the study of the production, distribution and consumption of goods rationed by price in markets. Price is therefore more closely related to quantities of goods instead of quantity of money. Monetarists are deluded about this.New Wayland BlogThe UK Energy Crisis: an MMT AnalysisNeilW

The Vineyard of the SakerSabotage, terrorist and other diversionary attacks are a real risk for RussiaThe Saker [Andrei Raevsky]http://thesaker.is/sabotage-terrorist-and-other-diversionary-attacks-are-a-real-risk-for-russia/TurcopolierUkraine guerilla and Long-Range attacks on Ruusian forces continue …Col. W. Patrick Lang, US Army (ret.)https://turcopolier.com/ukraine-guerilla-and-long-range-attacks-on-ruusian-forces-continue/  A Son of the New American RevolutionWhat Is Going On With...

Bearish sentiment increased in the latest week. They despise this rally.

[embedded content] Col. Macgregor - Ukraine & Russia Latest Judge Napolitano - Judging Freedom https://youtu.be/PJdNXR4zBEI

The Australian Bureau of Statistics (ABS) released of the latest labour force data today (August 18, 2022) – Labour Force, Australia – for July 2022. With Covid infection rates rising quickly, and already around 780,000 workers working few hours than usual because of sickness, I predicted last month that there would be a deterioration in the labour market in the coming months. That trend emerged in July 2022. The labour market deteriorated in July 2022 with employment and participation both...

India PunchlineUkraine war of attrition at inflection pointM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassadorTASS (Russian state media)COVID-related mortality worldwide increases by 35% over past four weeks — WHO https://tass.com/world/1494905Two Zaporozhye NPP employees detained for directing Ukraine’s artillery fire — policehttps://tass.com/society/1494863Crimea blames Kiev for sabotage at military depot near...

We could be in for a soft period ahead as rate fears and the upcoming tax drain remove support.

[embedded content] Submarines and CopiumAndrei Martyanov, former USSR naval officer and expert on Russian military and naval issues. Martyanov was born in Baku, USSR in 1963. He graduated from the Kirov Naval Red Banner Academy and served as an officer on the ships and staff position of Soviet Coast Guard through 1990. He took part in the events in the Caucasus which led to the collapse of the Soviet Union. In mid-1990s he moved to the United States where he currently works as Laboratory...

Important for how geopolitics is relevant to geo-economics, especially with reference to China and the US. The Chines position is similar to what Michael Hudson has recommended, except China is reluctant to give up investing in US Treasuries, unlike Russia, whose central bank has shifted to holding gold reserves instead.India PunchlineWorld order looks different from Moscow, BeijingM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former...

A more appropriate title would be “Economics should be the Social Science of Love.” Liberalism is based on individualism, and individualism is based on self-interest. Conventional economics assumes "microfoundations," that is, that economic behavior is the outcome of individuals' choices based on self-interest. This assumes that societies aren aggregates constituted by their members acting independently as autonomous agents.Love assumes relationship of individuals based on mutual...