Mike Norman Economics

Thanks to the marvellous balanced reporting of the Western Media you will all now be fully aware of the Decree of the President of the Russian Federation No. 95 dated 5th March 2022: ‘On the temporary procedure for fulfilling obligations to certain foreign creditors’ and its implications.But let’s recap. New WaylandThe Russian Fiscal ToketaNeilWhttps://new-wayland.com/blog/the-russian-fiscal-toketa/

Alberta’s Energy Minister Sonya Savage: Alberta is the answer to US Energy security. Real emissions reductions, reliable, right next door.Officials from Canada's largest oil-producing province Alberta said that Canada could replace American imports of Russian crude oil.OilpriceCanada Says Its Oil Could Replace U.S. Imports Of Russian CrudeTsvetana Paraskovahttps://oilprice.com/Energy/Crude-Oil/Canada-Says-Its-Oil-Could-Replace-US-Imports-Of-Russian-Crude.html

China has decades of experience in circumventing Western sanctions.China will be able to work around sanctions and other difficulties in buying Russian crude oil.Infrastructural development for oil and gas trading between China and Russia have been extremely extensive in recent years.OilpriceU.S. Sanctions Can’t Keep China From Buying Russian OilSimon Watkins

We already saw $150 oil in 2008. That was the culmination of a runnup from $40 in 2004. But above $150 and the income lost to the foreign sector could seriously impact the economy.

Food prices are skyrocketing due to sanctions. People will starve. Sanctions kill. Ukrainian neo-Nazi Yevhen Karas. https://youtu.be/DOBntnuYCMA

An interesting question. We may be on the verge of a major paradigm shift. The distinction between inside money and outside money. Why the Ukraine is the West's fault. John Mearsheimer speech. https://youtu.be/JrMiSQAGOS4

Fiscal surges to the highest level so far. Trending an $826 bln month!

Oil at $100 brings GDP growth down to near zero. Prices sustained above that and the economy goes into recession.

Sanctions could have a boomerang effect. Rising energy and food prices, while the Fed and other central banks raise interest rates.

Sanctioned Russian banks will be unplugged from SWIFT. It’s time to end SWIFT once and for all.