Mike Norman Economics

Open thread if you are following developments. Seems to be going pretty much as Andrei Martyanov and Andrei Raevsky (The Saker) foresaw. Russia appears to be taking down the Ukrainian military at the outset, but difficult to tell much through the fog of war at this point. US and NATO bloviating.Reminiscence of the FutureIt Started. Breaking News.Andrei Martyanov, former USSR naval officer and expert on Russian military and naval...

What happens when you don't listen.PoliticoPutin’s nuclear optionBeatrice Fihn

But the West has pushed Putin into an alliance with China. It is perhaps the dumbest thing the Western powers have ever done. It could be the last.The rest of the article explains why. ( David P. Goldman doesn't even go into the nitty gritty like Chinese ability to mass produce Russian advanced weaponry.)Asia TimesBiden throws Putin into Xi’s briar patch*David P. Goldmanhttps://asiatimes.com/2022/02/biden-throws-putin-into-xis-briar-patch/*briar patch reference

As Russian President Putin announces a "special military operation" in Ukraine and warns of "consequences" for foreign interference, global markets are turmoiling....Zero HedgeGlobal Markets Unravel As Putin Launches "Military Operation"Tyler Durdenhttps://www.blogger.com/blog/post/edit/2761684730989137546/6728711296994593921#RelatedPutin remarked that the NATO-allied war machine supporting 'Neo-Nazis' in Ukraine is moving and closely approaching Russia's borders."Nazi" has a different...

Yesterday (February 23, 2022), the ABS released the latest – Wage Price Index, Australia – for the December-quarter 2021. The WPI data shows that nominal wages growth remained modest to say the least. The data shows that the significant cuts to workers’ purchasing power continue, and, in my view, constitute a national emergency. While the conservatives are railing about inflation now and looking to target workers’ wages (further cuts), the evidence is that the wages side is not driving any...

The new US sanctions against Russia, imposed in response to Moscow’s recognition of the breakaway Donetsk and Lugansk people’s republics (DPR and LPR), will affect Ukraine and Europe more than Russia itself, US-based Eurasia Center Executive Vice President Earl Rasmussen told Sputnik.…“Energy costs will skyrocket even more. European industry will be slowed and likely not recover for a while,” Rasmussen said, adding that that outcome may well be one of the US objectives to achieve....“US...

Bannon and guest Erik Prince break it down….

Strategic Culture Foundation (German remilitarization — a red flag for Russia. Japan is remilitarizing again, too. Another red flag, since Russia and Japan have never signed a peace treaty owing to disputes.)Germany Can No Longer Be Put DownM. K. Bhadrakumar | retired diplomat with the Indian Foreign Servicehttps://www.strategic-culture.org/news/2022/02/23/germany-can-no-longer-be-put-down/Zero HedgeJPMorgan Publishes Terrifying Take On What Ukraine Crisis Will Do To Commodity...

Russia’s decision to recognize the independence of two cities in Ukraine and send troops over the border has triggered a slew of sanctions from the West.These sanctions include the suspension of the certification of Nord Stream 2 and the freezing of assets associated with some banks and wealthy individuals.The reason this first round of sanctions is relatively light is two-fold, the West wants to maintain some leverage over Russia and has very limited options.Oilprice (no options that don't...

This is important. It is a long read but it shows that the Russian intelligentsia has been doing its homework. And, yes, Vladimir Putin belongs to the intelligentsia. The document is not for non-Russians to agree with or disagree with but to understand, difficult as they may be for people whose world view, cognitive framework, and cognitive-affective bias is so far removed from that of the Russian world, which more extensive than Russian nationals. But it should be a wake-up call to the West...