Mike Norman Economics

A bipartisan agreement to raise the debt ceiling by $2T. The final concern has been removed.

This week’s inconclusive virtual Biden-Putin summit keeps the clock ticking and the tension ratcheting up. All this risk to the national security of all Europe for what precisely? For the sake of NATO expansion. For a NATO that could not prevail in Afghanistan, despite all the expenditure in blood and treasure, and will not stand to defend Ukraine even if Russia was to invade. And if NATO did move to fight Russia over Ukraine, what would that entail? Nothing other than the potential for a...

Numbers.GallupSocialism, Capitalism Ratings in U.S. UnchangedJeffrey M. Joneshttps://news.gallup.com/poll/357755/socialism-capitalism-ratings-unchanged.aspx

Numbers.Michael Roberts Blog — blogging from a marxist economistWorld inequalityMichael Robertshttps://thenextrecession.wordpress.com/2021/12/08/world-inequality/

"The statement says that by retaining the right to respond in kind to the challenges from the United States and the US-led NATO members, Moscow calls for an in-depth dialogue on security guarantees and on ways to lower military and political tensions, including options to prevent collisions in the air and at sea.""Otherwise, we will deploy all the means at our disposal to prevent and remove the emerging threats," the diplomat said....Zero HedgeRussia Delivers Protest Note To US Embassy...

Interesting numbers with far-reaching implications, but the subtext that is not mentioned is that the opposition to the right is motivated by the perception that the right has become fascistic. Would you date a Nazi? is one question of course. The next is just as important, Would you associate with someone that dates Nazis? This is not headed in a good direction for the country. The poll also shows that many on the left are disinclined to engage in economic exchange with those on the right....

India Punchline (situation still on hair trigger)Biden White House spoofs the KremlinM. K. Bhadrakumar | retired diplomat with the Indian Foreign Servicehttps://www.indianpunchline.com/biden-white-house-spoofs-the-kremlin/Gilbert DoctorowBiden-Putin Summit: who won the match of wills?Gilbert Doctorowhttps://gilbertdoctorow.com/2021/12/08/biden-putin-summit-who-won-the-match-of-wills/The Vineyard of the SakerWhat Putin really told BidenPepe...

I just saw a reference to a recent article by Dean Parker and Moritz Schularick: “The Term Spread as a Predictor of Financial Instability.” The article use the Macrohistory Database by Jordà, Schularick, and Taylor to look at the behaviour of the term spread (slope) between the 3-month rate and the 10-year bond yield in a number of countries over a long history around recession/financial crisis events. As expected, the slope inverts ahead of the event. They then looked at adding other...

It’s Wednesday so not much today. I offer some comments on the latest data release from Germany (not good) and the probability that the new German finance minister will be anything other than a dangerous dud. An announcement about the edX MMTed course (coming back). And then Blind Willie Johnson serving up Great Depression angst.Bill Mitchell – billy blogNew German finance minister thinks (27 per cent slump in GDP) Greece is Germany’s new role model for reformBill Mitchell | Professor in...

Preliminary analysis.The Vineyard of the SakerDid a major shift finally happen between the USA and Russia?The Sakerhttp://thesaker.is/did-a-major-shift-finally-happen-between-the-usa-and-russia/Sputnik InternationalPentagon Confirms Presence of US Forces in Ukraine, Declines to Disclose Numberhttps://sputniknews.com/20211207/pentagon-confirms-presence-of-us-forces-in-ukraine-declines-to-disclose-number-1091333875.html