Mike Norman Economics

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.

The universal view that rates are negative for the economy and stocks will be tested.

"Breach of contract." Like sanctions aren't that and worse? Crunch time. Russia hits a nerve.OilpriceEU Leaders Scoff At Putin's Rubles-For-Gas DemandRadio Free Europe/Radio Libertyhttps://oilprice.com/Latest-Energy-News/World-News/EU-Leaders-Scoff-At-Putins-Rubles-For-Gas-Demand.htmlsee alsoTASS (Russian state media)IEA chief sees demand for gas payments in rubles as ‘security threat’https://tass.com/world/1427111Rockets that were to launch EU satellites will be used for partner countries -...

Do they realize that raising rates will leave them with no money to remit to the Treasury or even operate?

This was posed in the links part 1 this am, but it deserves it's own post. Naked CapitalismRussia Counter-Sanctions “Unfriendly Nations” by Requiring Gas Payments in Roubles; Dallas Fed Predicts 2022 Global Recession if Russian Energy Supply Remains RestrictedYves Smith

Violating the "sanctity of property" that underlies Western bourgeois liberalism that underlies "capitalism" is a good idea?  David C. Henderson thinks not.Not to mention expropriation (stealing?) of Afghanistan's reserves.US coming across as rogue?Responsible StatecraftWhy this economic war on Russia breaks all rules of the gameDavid C. Hendersonhttps://responsiblestatecraft.org/2022/03/23/why-this-economic-war-on-russia-breaks-all-rules-of-the-game/