Mike Norman Economics

Trickle down. Remember that? This was the idea that if we redirect real income towards capital by boosting profits via real wage suppression and/or corporate tax cuts, as if by magic, corporations will start investing the largesse in productive capital, which stimulates economic growth, and, the benefits ‘trickle down’ to the workers who made the initial sacrifices. The evidence base has never supported the idea yet it still resonates. I read two interesting articles yesterday, which are...

😂Tanks in front of the banks! (Hey it rhymes Art degree morons!)Disgraced USD zombie pieces of human garbage….“hath not the potter authority over the clay, out of the same lump to make the one vessel to honour, and the one to dishonour?”  Rom 9:21You’re looking at over a billion chamber pots over there…  completely disgraced human beings… sad…🚨🚨🚨🚨Breaking news🚨🚨🚨🚨Tanks are being put on the streets in China to protect the banks.This is because the Henan branch of the Bank of China declaring...

[embedded content] Mobilization and Real EconomyAndrei 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...

The Tehran summit uniting Iran-Russia-Turkey was a fascinating affair in more ways than one. Ostensibly about the Astana peace process in Syria, launched in 2017, the summit joint statement duly noted that Iran, Russia and (recently rebranded) Turkiye will continue, “cooperating to eliminate terrorists” in Syria and “won’t accept new facts in Syria in the name of defeating terrorism.”That’s a wholesale rejection of the “war on terror” exceptionalist unipolarity that once ruled West...

When capitalism doesn't cut it.Russia’s invasion of Ukraine has created an energy crisis in Europe and global energy markets will never be the same.The new world energy order will be defined by government intervention on a scale not seen in recent memory.European governments will have to work hard to avoid excessive government interventions in energy markets that might exacerbate the energy crisesActually, the increasingly threatening effects of climate change were a more significant wakeup...

Flows slowing. ECB rate hike and the Fed next week. The ride may get bumpy before it smooths out again in August. 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 (July 20, 2022)Uwe Parparthttps://asiatimes.com/2022/07/ukraine-the-situation-july-20-2022/One WorldGermany’s Century-Long Plot To Capture Control Of Europe Is Almost CompleteAndrew Korybko, American geopolitical analyst and independent journalist based in Moscow, and member of the expert council for the Institute of Strategic Studies and Predictions at the People’s Friendship University of...

Today is Wednesday and as usual I feel as though I can roam a bit freer than usual. Today I have some great music but also my latest views on sustainable urban development and the hot topic in Australia at the moment of whether or not the Australian government should reintroduce mask mandates in certain settings given that Covid is rapidly accelerating and our death rate is now at unacceptably high levels and rising. There is a lot of guff on Twitter etc about the oppression of these sorts...

I have been running into comments about “top down” versus “bottom up” inflation analysis over the years, mainly on Twitter. The usual context is a conventional economist arguing that “bottom up inflation analysis is defective” for some reason or another. I have not seen a long form analysis justifying this, rather this was drive by snark. I have seen this more often as people are taking victory laps for inflation forecasting.Since I am not huge fan of the people making the comments, I cannot...

A Son of the New American RevolutionDid You Know that Russia is Still Losing the War in Ukraine?Larry C. Johnson | CEO and co-founder of BERG Associates, LLC, an international business-consulting firm with expertise combating terrorism and investigating money laundering, formerly Deputy Director in the U.S. State Department’s Office of Counter Terrorism (1989-1993, and CIA operations (1984-1989)https://sonar21.com/did-you-know-that-russia-is-still-losing-the-war-in-ukraine/The DuranU.S....