Mike Norman Economics

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...

Morgan Stanley's take on Zoltan Pozsar's note.Of course, not everyone agreed with this radical view, with Rabobank's in-house geostrategist Michael Every among the most vocal critics of Pozsar's take. Over the weekend, another skeptic emerged, this time the global head of FX EM at Morgan Stanley, James Lord...Zero HedgeMorgan Stanley Lists Three Ways The World Will Respond As Sanctions Threaten The Dollar's DominanceTyler...

This week, your inbox is likely overflowing with two observations – President Biden’s Executive Order on digital assets and the positive price response to what was supposed to be old news. It was as though digital assets exhaled a sigh of relief with the release of the Order. And it went further than expected. The Order is the first-ever ‘whole-of-government approach,’ with broad goals of supporting digital asset innovation, guarding consumer protections, ensuring financial stability, and...

Biden didn't have to take a blowtorch to the financial system in response to the Russian invasion of Ukraine. But he has done so.The American ConservativeWeapons of Financial Destruction and the New World DisorderDavid C. Hendrickson is president of the John Quincy Adams Society and professor emeritus of political science at Colorado Collegehttps://www.theamericanconservative.com/articles/weapons-of-financial-destruction-and-the-new-world-disorder/

TurcopolierBetter maps of the war in Ukraine – TTGhttps://turcopolier.com/better-maps-of-the-war-in-ukraine-ttg/Global Macro MonitorChart of the Day: Russian Crude Oil Importsmacromonhttps://global-macro-monitor.com/  Greek City TimesGreeks in Mariupol: “The Russians help us and don’t discriminate like the Ukrainians” (VIDEO)Athens Bureauhttps://greekcitytimes.com/2022/03/12/greeks-in-mariupol/TASS (Russian state media)Mass motor rally in support for Russia held in...

Point 1: We are witnessing the birth of Bretton Woods III – a new world (monetary) order centered around commodity-based currencies in the East that will likely weaken the Eurodollar system and also contribute to inflationary forces in the West. A crisis is unfolding. A crisis of commodities. Commodities are collateral, and collateral is money, and this crisis is about the rising allure of outside money over inside money. Bretton Woods II was built on inside money, and its foundations...