Mike Norman Economics

Bannon on current economic situation…. “stagflation!” on steroids….

It’s Wednesday and I am flat out finalising writing commitments and my teaching responsibilities at present. I have also been doing a lot of media interviews given the inflation release yesterday. People are believing the nonsense coming out in the financial press that inflation is ‘out-of-control’ and interest rates need to be hiked to stop it in its tracks. How will increasing interest rates allow a Covid sick truck driver to return to work any quicker? How will a rise in rates, increase...

Federal gov't is now running an $18 bln surplus for January, sucking income and savings from the economy.

Sputnik InternationalIMF: Russia-Ukraine Conflict Could Further Increase World Energy Costshttps://sputniknews.com/20220125/imf-russia-ukraine-conflict-could-further-increase-world-energy-costs-1092510865.htmlUkraine’s Defence Minister Slams Foreign Media for Whipping Up ‘Russian Invasion’ Fears (US and UK took a step too far? It's resulting in disunity rather than...

There are too many lobby groups in Washington pushing for war with Russia, says Douglas Macgregor. He also says that Trump liked to be liked, especially when pandering to his base, which stopped him getting things done.  Douglas Macgregor, a retired US Army Colonel and former Pentagon senior advisor, analyzes the US-Russia standoff in Ukraine; the aftermath of the US withdrawal from Afghanistan; Trump's failure to act on 2016 campaign anti-interventionist rhetoric, only to surround himself...

Same story stated a bit differently: Class structure (stratification) determines class power (social, political and economic), which determines distribution of assets and income.Rising asset prices generate a more unequal distribution of wealth by increasing the value of wealth that must be acquired to secure a position in the next wealth class. At the same time, the growing credit possibilities of rising asset values reinforce the floor preventing demotion into a lower social class. In...

It's hard to debate with a side which rejects mainstream science, from Covid through to climate change. The right-winger on this panel accuses the American elite of being leftwing. They discuss how secession may be an option, where the US breaks up into several countries.  "The United States is coming to an end," says Stephen Marche. In his new book, "The Next Civil War," the Canadian author insists rising inequality, racial conflict, environmental destruction, and a lack of unified national...

Very oversold markets will bounce, but conditions are not there for a sustained rally.

Sonia Purnell has known Boris Johnson for over 30 years and she also worked with him at the Telegraph. She says that the more you get to know him, the more you get to dislike him. Despite his bubbly persona, he can get very angry, and some people are scared of him, because they fear what he might do. Sonia Purnell says that he's totally unfit for office.Before I met my girlfriend she was a floating voter, although a slightly left leaning one. I've educated her quite a bit, but I was...

One World (big picture analysis. US foreign policy "experts" and military "experts" that are publishing are completely clueless about the big picture and as a result are completely lost in their heads. )What Are The US Deep State’s Grand Strategic Calculations Vis-à-Vis Russia & China?Andrew Korybkohttp://oneworld.press/?module=articles&action=view&id=2425Angry BearAdvocate of Book Burning Becomes Chairman of Virginia School BoardDan...