Mike Norman Economics

TASS (Russian state media)Russia’s operation in Ukraine stems from West’s desire to dominate the world — Lavrovhttps://tass.com/world/1439699China to boost ties with Russia regardless of international situation — senior diplomat [Chinese Deputy Foreign Minister Le Yucheng]https://tass.com/world/1439621Information on presence of civilians at Azovstal plant false, DPR military official sayshttps://tass.com/society/1439549Middle East EyeAl-Aqsa: Israeli forces push out Palestinians as settlers...

[embedded content]Phase 2 in progress.Andrei 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...

There's 2 things working against the yen, and neither of them have anything to do with monetary policy.

Hypothetical, but....Zero HedgeEU To Impose Full Embargo On Russian Oil Next Week, Will Send Price Above $185 According To JPMorganTyler Durdenhttps://www.zerohedge.com/markets/full-embargo-russian-oil-would-send-brent-185bbl-jpmorganAlso at ZHRussia Must Prepare For "Possible Aggressive Action" From NATO, Putin Advisor [and former president Dmitry Medvedev]...

Top official explains why Russia hasn't run out of precision missiles in UkraineThe country’s defense industry carried out extensive modernization for years, says the Deputy Prime Minister in charge of the process...There was extensive import substitution after previous sanctions. Forewarned is forearmed.Many interesting details in this post.RT (Russian state-sponsored media)Top official explains why Russia hasn't run out of precision missiles in...

Moon of AlabamaRussia Has Launched Phase Two Of Its Operation In Ukrainehttps://www.moonofalabama.org/2022/04/russia-has-launched-phase-two-of-its-operation-in-ukraine.htmlIndia PunchlineRussia pushes back western sanctions, revs up operation in Eastern UkraineM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassadorhttps://www.indianpunchline.com/russia-pushes-back-western-sanctions-revs-up-operation-in-eastern-ukraine/Reminiscence of the FutureScott and...

This article was triggered by some discussions I ran into on Twitter. My belief is that the economics literature on banking (with some exceptions) is a failure. From the perspective of advancing knowledge, the best course of action would be to ritually burn the literature, and start over from scratch.(Note: due to the length of this discussion, I am breaking it into (at least) two parts. This first part gives an overview, then turns to the analysis of individual banks.)The core of the...

A link to John Helmer's post was provided here at MNE yesterday. It is posted to Naked Capitalism today, prefaced with Yves' comments, which are worth reading. So is Helmer's article if you didn't catch it yesterday."Combined Biden" is banking on the economic war along with proxy war to bring down Russia instead of directly involving the US and NATO in kinetic warfare, which neither the American or European public are ready for, owing to the cost, and which neither the US or NATO militaries...

 Dirk Ehnts quote and comment on it by Lars.It doesn't get much clearer than this. Can the conventional economists understand it though, considering the baggage they bring? Simply put, they do not start that the beginning so it is no wonder they get lost on the way with their "axiomatic" deductive approach instead of a balance sheet approach.Lars P. Syll’s BlogThe main insight of MMTLars P. Syll | Professor, Malmo University

Last week, the New York Times published the latest Paul Krugman article on inflation (which is behind its paywall). It is syndicated elsewhere and you can access it here at The Berkshire Eagle (April 13, 2022) – Paul Krugman: Inflation is about to come down — but don’t get too excited. I wondered whether the author had offered his services cheaper to the NYTs and elsewhere given his concern for inflation, and, apparently, his assertion that wages are a critical factor in sustaining it. What...