Mike Norman Economics

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...

Fiscal flows are strong. IRS tax refunds are starting to go out. February is a strong fiscal month and market will ultimately reflect this.

Consortium News (nothing substantial)What Is the Difference Between Kosovo & Donbass?Vladimir Golstein | chair of the Department of Slavic Studies at Brown Universityhttps://consortiumnews.com/2022/02/23/what-is-the-difference-between-kosovo-donbass/RT — Question MoreWhy a war may be the only solution Americans can bring to this conflictScott Ritter, former US Marine Corps intelligence officer, serving in the Soviet Union as an inspector implementing the INF Treaty, on General...

The sanctions that the United States is imposing on Russia for recognizing two breakaway regions in eastern Ukraine and sending troops there are not targeting Russian oil and gas flows, nor will they target such flows in subsequent sanctions that could be imposed in the near future, the U.S. said. "The sanctions that are being imposed today, as well that could be imposed in the near future, are not targeting and will not target oil and gas flows," a senior U.S. State Department official told...

Coal prices are rising again as the Russia-Ukraine crisis has put energy markets on alert and Russian coal producers struggle to get their coal via railways to export terminals due to COVID-related railway staff shortages. JSC Kuzbassrazrezugol (KRU), asked customers to postpone initially planned deliveries of coal for the first and second quarter of 2022 by one quarter, in a letter to clients dated February 18 and seen by Bloomberg News.... OilpriceEnergy Crisis Worsens As Russia Delays...

It is Wednesday and I have three live presentations to make throughout the day. So we will be brief today. The ABS released the latest Wage Price Index today which shows that annual wages growth in Australia was 2.3 per cent, compared to the official inflation rate of 3.5 per cent. I will analyse that data in detail tomorrow, given I am short of time today. But there was also disturbing data coming out of the UK last week on the wages front, which reflects a major imbalance in priorities and...