Mike Norman Economics

What happens from not thinking things through. And David P. Goldman doesn't bring up the more extreme consequences that are not only possible but looking increasingly probable.Asia TimesBiden stares down from Ukraine-economic ledgeDavid P. Goldmanhttps://asiatimes.com/2022/06/biden-stares-down-from-ukraine-economic-ledge/See also  The West has been inhabiting a fanciful world that could exist only in our imaginations. Many remain stranded in that self-deluded mirage. The more that we have...

The Russian trade delegation in China has received many proposals from Chinese companies willing to replace Western products on the Russian market, Alexey Dakhnovsky, Russia's trade representative in China, said on Thursd…"The trade representative office receives a lot of proposals from Chinese companies that offer not only products, but also technologies to replace Western goods [in Russia]," Dakhnovsky said on the sidelines of the St. Petersburg International Economic Forum...

European gas prices have soared by as much as 50% in just one week.The surge in prices was spurred by reduced Russian flows and an outage at a key LNG export terminal.Germany warned that limits to flows via the Nord Stream pipeline were a strategy from Putin to rattle the market.Scholz apparently thinks that NATO can engage in a proxy war with Russia and not incur costs. How dumb is that?OilpriceOutages And Reduced Russian Flows Send European Gas Prices Soaring Tsvetana...

Conversable EconomistCentral Banks Start to Diversify From US DollarsTimothy Taylor | Managing Editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, Minnesota|https://conversableeconomist.com/2022/06/16/central-banks-start-to-diversify-from-us-dollars/

As I forewarned, the quarterly corporate tax payment that was due this week resulted in a $95 bln liquidity drain. This is done. The market should start a slow recovery now. 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/

I recently participated in a zoom seminar to review a new book entitled Socialist Economic Development in the 21st Century by Alberto Gabriele and Elias Jabbour. Gabriele is a Senior Researcher at Sbilanciamoci, Rome, Italy and Elias Jabbour is an Assistant Professor at the School of Economics, at Rio de Janeiro State University, Brazil.You can see the comments of the various reviewers (including my own) and the replies of the authors (here). But below is a more considered review of the...

The Australian Bureau of Statistics (ABS) released of the latest labour force data today (June 18, 2022) – Labour Force, Australia – for May 2022. The labour market improved markedly in May after several months of weakness. The robust full-time employment growth was a good sign as was the increasing participation rate. That particularly favoured the younger workers. The official unemployment rate was unchanged but the underlying (‘What-if’) unemployment rate is closer to 6.1 per cent rather...

Pepe Escobar is following various discussions at Spief: https://twitter.com/spief?lang=en and here are some of his updates from his telegram channel:The Vineyard of the SakerNotes From Spief: St Petersburg International Economic ForumPepe Escobar

My two sessions at the Levy Summer School begin early on Friday morning (Australian time). The details follow.Here are the details:Bill Mitchell – billy blogMy sessions at the Levy Summer School 2022Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

CaitlinJohnstone.comWe’re Here To Become As Conscious As PossibleCaitlin Johnstonehttps://caitlinjohnstone.com/2022/06/16/were-here-to-become-as-conscious-as-possible/A Son of the New American RevolutionIs NATO Support for Ukraine Flagging?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...