Mike Norman Economics

Again, out of paradigm with MMT, but interesting from the geopolitical POV, which is also way out of paradigm with MMT. But that is what everyone believes, and this determines how they behave.Gold, Goats 'GunsEU Sanctions on Russia Equal ‘Suicide by Cop’Tom Luongohttps://tomluongo.me/2022/02/25/eu-sanctions-suicide-by-cop/

Unintended consequences, at least for the West?“The key word today is obviously hold off and do not do anything that could backfire in the future,” WSJ cited Hugo De Stoop, chief executive of tanker company Euronav, as saying. “At the moment, we're not touching any cargo that’s linked to Russia.”At the same time, Indian refiners have scooped up 6 million barrels of discounted Russian Urals crude, traders told Bloomberg.Maybe Russia should tell the Western buyers to settle in physical gold...

Yes, I know. Alasdair Macleod is a goldbug that is out of paradigm with MMT.  But goldbugs pay attention to international developments, especially those that are like to affect the price of metals. This is a good analysis overall and he is right "financially" in the sense that most financial actors act on the frame of reference. He is also correct that gold is becoming significant again, especially sine the entry of China and India on the world scene as major players. Their cultures have...

Kosovo. noun: a part of a sovereign state where a separatist movement is supported by a superpower and pronounced a sovereign state itself.To pull a Kosovo: the action of a superpower to recognize a separatist region as a sovereign state.Putin just pulled a Kosovo....CounterpunchPutin Pulls a KosovoGary Leupp |  Professor of History at Tufts University with a secondary appointment in the Department of Religion

Another historical account undermining the conventional narrative with facts and previous expert analysis. Why did this happen? Cui bono?After the fall of the Soviet Union, there was a near-universal understanding among political leaders that NATO expansion would be a foolish provocation against Russia. How naive we were to think the military-industrial complex would allow such sanity to prevail.Another instance of "disaster capitalism," seizing an opportunity to profit.CountpunchChris...

Revealing. Essentially the same analysis as George Kennan.The Beinart ReportBiden’s CIA Director Doesn’t Believe Biden’s Story about UkrainePeter Beinart | Professor, Newmark School of Journalismhttps://peterbeinart.substack.com/p/bidens-cia-director-doesnt-believe

 While NATO expansion under Bill Clinton can be identified as the initial causal factor in a constellation of causes that has led to the present situation, the US attack on Belgrade and subsequent partition of the former state of Yugoslavia, also ordered by Bill Clinton, was a key turning point in the causal chain. It woke up the bear and alerted Russia and Russians to the danger of the US empire and the extent to which the US and their NATO allies go to impose their will using the pretext...

Smell of rubber hitting road.Zero HedgeRabobank: Russia Is Showing Us A New Kind Of War In Two WaysMichael Every of Rabobankhttps://www.zerohedge.com/markets/rabobank-russia-showing-us-new-kind-war-two-ways

China’s Cross-Border International Payments System could give Russia a lifeline and accelerate de-dollarization…We can assume that Russia has gamed all this out already and is confident it can weather Western economic and cyber warfare. This post doesn't say anything new, but adds an influential voice saying it.Asia TimesChina’s SWIFT alternative may undercut US sanctionsDavid P. Goldman

[embedded content]YouTubeThe Problem With Jon Stewart363K subscribersListen to the full episode:https://theproblem.link/KeltonGreyEconomists Stephanie Kelton and Rohan Grey take Jon down a Modern Monetary Theory rabbit hole, where they learn that the Fed could actually do a lot more than it is.The Problem With Jon Stewart is now streaming on Apple TV+ https://theproblem.link/AppleTVListen to The Problem With Jon Stewart podcast on Apple Podcasts, where...