Mike Norman Economics

May still running a $50 bln surplus. Deadly for market.

Moon of AlabamaUkraine - Congress Passes The Bucks, Realism Sneaks In, Poland Plans For More War (Must-read!)https://www.moonofalabama.org/2022/05/ukraine-congress-passes-the-bucks-realism-sneaks-in-poland-plans-for-more-war.htmlThe Vineyard of the SakerSitrep Operation Z – Where are we? (extensive report)The Saker Staffhttp://thesaker.is/sitrep-operation-z-where-are-we/India PunchlineEU stumbles over Russian oil slickM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and...

Unless I was interested in short-term breakevens, I viewed the consumer price index (CPI) as a lagging indicator and therefore not too exciting. As such, I am not as enthusiastic as other commentators with regards to reading the entrails of the CPI report. My interest was more in the underlying trends, and what we would expect to change. The problem with the U.S. CPI is that one of the most important “underlying” factors is housing — and the housing component has taken off like a...

Last week, I provided a graph in this blog post – The Left/Right distinction is as relevant as ever as corporations gouge profits out of pushing inflation (May 2, 2022) – which showed negotiated wages growth in Europe was declining and real negotiated wages had fallen sharply over the last several months. I am continually on the lookout for evidence that the current inflationary episode, no matter how alarming, is not being driven by structural forces in the labour market even though...

Censorship betrays weakness.As is the case with all sorts of censorship, political in particular, it reveals the weakness of the censoring side.Replaying the lead-up to WWI.There is a well-known book by Christopher Clark on the history of the First World War called 'The Sleepwalkers: How Europe Went to War in 1914'. That’s exactly what we are facing now: sleepwalking politicians….Prof. Goldstein also outlines the no-so-hidden agenda.Unfortunately, militarism remains a very powerful magnet...

Fastracking legislation for 4 new terminals.... Simply establishing different sources for LNG…. Germany ramps up capacity for LNG imports to replace Russian gas https://t.co/xGIW7iFfsD pic.twitter.com/3nBuf4yG2I— Reuters (@Reuters) May 5, 2022

[embedded content]May 9th, Zmeinnyi Island fiasco, Pentagon, Fakes, Nuclear subs in... Black SeaDebunking (Some) FakesAndrei 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...

Kiev cites ‘force majeure’ in Lugansk to halt third of gas flow to Europe, while Gazprom says there have been no issues that would justify the halt.The Vineyard of the SakerUkraine calls force majeure and halts 1/3 of European gashttp://thesaker.is/this-is-just-too-delicious-not-to-sitrep-quickly-ukraine-calls-force-majeure-and-halts-1-3-of-european-gas/Interfax UkraineUkraine forced to suspend gas transit through GMS Sokhranivka due to actions of Russian occupiers from May 11 –...

Crunch time.OilpriceTop German Gas Buyer [VNG] Concedes To Russian Payment SchemeIrina Slav

[embedded content]MultipolaristaEconomist Michael Hudson on decline of dollar, sanctions war, imperialism, financial parasitismBen Norton aka Multipolarista interviews Michael Hudson: Destiny of Civilizationhttps://youtu.be/qlUSqQ8U8T8