Mike Norman Economics

 China signed an agreement with Nicaragua’s leftist Sandinista government to build thousands of homes for poor and working families, expanding the already existing Bismarck Martínez public housing program.Although Nicaragua is a small country of roughly 6.5 million people, with very few resources as the second-least rich country in the western hemisphere, its leftist Sandinista government has dedicated itself to creating ambitious social programs, including free universal healthcare and...

This would be an amazing development! It would be wonderful to bring the Russians back in from out of the cold. I do see them as European, although it's a vast country with a large non-European section. It would bring prosperity and peace, leaving us to spend our resources fighting climate change instead. I just hope such an alliance won't be used to isolate China, which was the Trump's administration plan. Once Russia is a NATO member, its fear of encirclement will dissipate. Moreover, it...

The SIT (Tajfel and Turner, 1979) provides a framework for understanding when members of disadvantaged groups will accept their current low status, take individual action to improve their personal position, or take collective action to improve the status of their entire group.It answers some of the dilemma that I pointed out in the comments under the Yanis Varoufakis post. Social Identity Theory

Russia ObserverTHE WEST LEAVES MUMMY’S BASEMENTPatrick Armstronghttps://patrickarmstrong.ca/2022/01/28/the-west-leaves-mummys-basement/India PunchlineRussia’s ‘asymmetrical’ war over UkraineM. K. Bhadrakumar | retired diplomat with the Indian Foreign Servicehttps://www.indianpunchline.com/russias-asymmetrical-war-over-ukraine/The Vineyard of the SakerPanic and chaos is clearly stetting in as the West fears peace above all elseThe...

I've looked around the internet and Yanis Varoufakis does appear to endorce MMT, but he has concerns that the bankers will abuse it, adding that this is why they are so enthusiastic about it. He also says it can be used used for investment and to create jobs. But I will agree, he doesn't seem to be all that excited about it. I've put this up for discussion. Thoughts below please. Yanis Varoufakis on MMT[embedded content]https://youtu.be/mhZPYtR0M0Q

Naked CapitalismNavigating Russia/Ukraine Warmongering DisinformationYves Smithhttps://www.nakedcapitalism.com/2022/01/navigating-russia-ukraine-warmongering-disinformation.htmlMoon of AlabamaWhy Washington Will Soon Dump Ukraine's President Zelenskyhttps://www.moonofalabama.org/2022/01/why-washington-will-soon-dump-ukraines-president.html Sputnik InternationalChina Welcomes Upcoming UN Rights Chief's Visit to Xinjiang...

Al Jazeera is very liberal and progressive, while Qatar, its owner, is very repressive and conservative. But Al Jazeera's purpose is to paint a positive image for Qatar all around the world. Al Jazeera promotes democracy and civil rights in other countries, while Qatar itself is very repressive at home. Al Jazeera is still a bit of a mystery. [embedded content]https://youtu.be/YKx7TPGttSk

Why have the US and the UK chosen to whip up a massive campaign against a possible Russian invasion of Ukraine, that makes no sense in mid-winter against a well-equipped and fiercely patriotic Ukraine?My brother texted me in anger, saying about how Putin was going to invade Europe. Now, I do keep my brother informed about things, so can you imagine what most other people in Britain are thinking. It is even being said that Putin may invade Sweden. The Media have managed to paint Putin as a Dr...

OilpriceU.S. Natural Gas Prices Climb Most Ever In Single DayJulianne Geigerhttps://oilprice.com/Energy/Natural-Gas/US-Natural-Gas-Prices-Climb-Most-Ever-In-A-Single-Day.htmlU.S. Admits Finding Non-Russian Gas For Europe Is A ChallengeTsvetana Paraskovahttps://oilprice.com/Latest-Energy-News/World-News/US-Admits-Finding-Non-Russian-Gas-For-Europe-Is-A-Challenge.htmlGoldman: Ukraine Conflict Could Double EU Natural Gas...

Biggest business inventory increase in history in Q4 just as fiscal is pulling the rug out from under the economy. And OPEC+ is about to raise output. Recipe for broadly falling prices. (Oh yeah, and Fed raising rates.)