Mike Norman Economics

The Vineyard of the SakerSitrep : Sanctions and quite major economic newsThe Sakerhttp://thesaker.is/sitrep-sanctions-and-quite-major-economic-news/Reminiscence of the FutureNews Of The World.Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issueshttp://smoothiex12.blogspot.com/2022/03/news-of-world.htmlThis Is Importanthttp://smoothiex12.blogspot.com/2022/03/this-is-important.htmlNaked CapitalismAn American in Siberia Gives a Preliminary Assessment of the...

Gilbert Doctorow — International relations, Russian affairsParallel Worlds or Parabolic Mirror Images: Media Coverage of the Russia-Ukraine WarGilbert Doctorowhttps://gilbertdoctorow.com/2022/03/15/parallel-worlds-or-parabolic-mirror-images-media-coverage-of-the-russia-ukraine-war/India PunchlineRussian forces double down to complete operationMK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador....

It is hard work being an economist. Especially when about 90 per cent of what one reads each day is fiction masquerading as truth. That wouldn’t be so bad because fiction is good when it is in the right place. But in this context, the fiction that comes out from economists and their lackeys in the financial media causes massive damage to innocent citizens who lose their jobs, have their pay aspirations stifled, enter poverty, lose their homes and commit suicide out of sheer hopelessness with...

It's a rough estimate, but I have a number that gives you an idea of the impact of war, sanctions, and the Fed, so far.

 The first part is on the war, the second on the economics of it, trade in particular. (Not a great title. Hardly anything to do with Smoot-Hawley. The situations are very different.)Naked CapitalismRussia Sanctions Trade Shock: Fulfilling the Fears of Smoot-Hawley?Yves Smithhttps://www.nakedcapitalism.com/2022/03/russia-sanctions-trade-shock-fulfilling-the-fears-of-smoot-hawley.htmlRelatedTax Research UKThe absence of any sort of strategic thinking within the government is why we’re in a...

CaitlinJohnstone.comBig Brave Keyboard Warriors: Notes From The Edge Of The Narrative MatrixCaitlin Johnstonehttps://caitlinjohnstone.com/2022/03/14/big-brave-keyboard-warriors-notes-from-the-edge-of-the-narrative-matrix/India PunchlineHoly wars have no timelinehttps://www.indianpunchline.com/holy-wars-have-no-timeline/India Should Quit Quad Now!https://www.indianpunchline.com/india-should-quit-quad-now/MK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former...

An Austrian economics POV on the Pozsar note. This is clearly a view that is not MMT, but it is not as far from MMT as some may suppose. MMT is based on availability of real resources, just as in war the deciding factor is "facts on the ground," which is Pozsar's point about commodities being king rather than cash when push come to shove.BTW, one of the chief strategic factors in international relations, military science, and foreign policy is securing real resources for oneself and and...

 With Russia now invading Ukraine and adding to the already highly disrupted supply chains linking products and nations, and the price fixers in OPEC and OPEC+ having a picnic on the uncertainty, inflationary pressures will continue to rise for the time being. Many commentators keep falling into the trap of saying that history is repeating itself – meaning that it is the 1970s over again. I maintain my position that this is not akin to what was going on in the 1970s although there are...

 At a virtual meeting with French President Emmanuel Macron and German Chancellor Olaf Scholz on Tuesday, Chinese President Xi Jinping opposed economic sanctions against Russia, saying they would affect the stability of global finance, energy supplies, transportation, and supply chains and “dampen the global economy,” which has already been ravaged by the coronavirus pandemic.…The Russian Foreign Ministry says it is working on a broad response to the sanctions. Moscow says the measures will...

MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex) versus climate change (and nuclear war).By the “Mother of All Opportunity Costs” I refer, of course, to the abject failure of us adults to stave off or even substantially attenuate the faster-than-anyone-expected doom of global warming, while we go on blithely filling the pockets of war profiteers with our taxes. That’s what ALL coming generations (including the one-percenters who live in gated...