Mike Norman Economics

A Son of the New American RevolutionIs Russia on the Ropes in Ukraine? (No. Winning bigly.)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/is-russia-on-the-ropes-in-ukraine/The Vineyard of the SakerSitrep: Russia-Ukraine...

Why might Putin have made this announcement? At least three key possible reasons come to mind, all related to well-known theoretical and empirical work in international monetary economics:Market segmentation, arising from obstacles to the formation of a unique global market with a single price for a product (in this case, gas), allows monopolistically competitive firms (such as Gazprom in this case) to operate pricing-to-market strategies by choice of the currency of pricing in international...

Yves here. Hope you’ll enjoy hearing Michael Hudson discuss how the war in Ukraine is really a great power confrontation, as Biden made clear, and why some of the moving forces in the US might not be unhappy with disruption.This was linked to here at MNE several days ago at a different location, but it is still relevant if you missed it. Naked CapitalismNATO-Russia Proxy War: Revealing Signs of a Fading America: Michael Hudson

Today, I am reflecting on the evolution of the body of work known as Modern Monetary Theory (MMT) and responding to many E-mails I get seeking clarification about things and some that keep getting things wrong. Some of the things I write today might introduce some dissonance, which just means that those feeling that have not really got to the bottom of the matter before and thought they knew what isn’t. This blog post also forms part of my – MMT Provenance – series where I trace the...

This was fuckn cool.  [embedded content]

Deficit down, military spending up. By focusing on deficit spending as a cause of inflation, administration officials are starting to parrot an argument Sen. Joe Manchin (D-W.Va.) made in rejecting Biden’s Build Back Better agenda: new programs that aren’t fully offset can drive up prices.The president also wants to assure Americans he'll increase defense spending in the face of new threats from Russia, and fund the police to keep Americans safe at home.AxiosBiden's new budget ditches...

Reminiscence of the FutureThe End Of "Azov".Andrei Maranov, former USSR naval officer and expert on Russian military and naval issueshttp://smoothiex12.blogspot.com/2022/03/the-end-of-azov.htmlMoon of AlabamaUkraine - Smoke And Mirrors Around Poisonous Peace Talkshttps://www.moonofalabama.org/2022/03/ukraine-smoke-and-mirrors-around-poisonous-peace-talks.htmlNewsweekOver Half of Americans Say US Will Be—or Is—at War With Russia: PollJason...

Neil explains the settlement details with T-accounts.New WaylandRouble Gas Payments are probably a False FlagNeilW

Podcast and transcript.theAnalysis.newsIs China’s Trade Predatory or for Mutual Benefit? – Hudson and Bond pt 2/2Paul Jay interviews Patrick Bond and Michael Hudson

Strong fiscal and bank credit, combined, will support the economy and stocks.