Mike Norman Economics

One World Neoliberalism Resulted In A Handful Of People Owning The Entire WorldGoran Sumkoskihttp://oneworld.press/?module=articles&action=view&id=2345Our DataHow much energy do countries consume when we take offshoring into account?Hannah Ritchiehttps://ourworldindata.org/energy-offshoring Gilbert DoctorowBiden has set the mousetrap: what mouse will he catch?Gilbert Doctorow | European Coordinator of The American Committee for East West Accord...

This is quite funny. The obvious effect will be to increase de-dollarization. For one thing, Russia won't be able to accept the USD in exchange for energy even if it cared to, so it will increase use of the euro, yuan, rupee, etc. in those markets. This reduces dollar hegemony, which is a key piece in US geopolitical hegemony. And the energy that would have gone to Europe will go to Asia instead. China will be happy to take as Russia obligations to Europe are extinguished. And it won't be...

 Win-win (multipolarity) vs zero-sum (unipolarity). No brainer — for those with functioning brains.Global InequalityThe Summit of Democracies is a wrong idea (for the world)Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Stone Center on Socio-economic Inequality, senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie...

LOL I wonder what the tektons thought of the philosophers… ?Through a detailed reading of the ancient Greek testimonies of the tectonic tradition, the paper demonstrates that in the Homeric tradition the tektones were hailed as versatile, first-rate craftsmen who created wonders out of matter, but in classical times they fell from their high status of old. In Plato’s writings tectonics ends up at the lower end of the epistemological and ontological scale.Interesting paper on how the academe...

I read an August 2020 Bank of England Staff Working Paper (No.883) – Does quantitative easing boost bank lending to the real economy or cause other bank asset reallocation? The case of the UK – recently, which investigates whether the large bond-buying program of the Bank stimulates bank lending. They find that there was no stimulus to lending. Which would only be a surprise if one thought that mainstream monetary economics had anything useful to say. Modern Monetary Theory (MMT) economists...

"Supply chain uncertainty."Zero HedgeRecord Backlog And Inability To Produce, Pushes Class 8 [Truck] Orders To Lowest November In 26 YearsAlan Adler, FreightWaves

Caitlin Johnstone covers most of the bases here, but she misses a key point — domestic politics. The irrationality of the leadership is compounded by the exigencies of domestic politics, each party perceiving a need to either match or outdo the other on matters of national security, "patriotism" and hewing the line of imposing 18th c. liberalism ("our values") on the world. This is basically ersatz religion, thus the justifying militarism, crusades and endless war, the real motivation of...

Imperialism founded on racism, so there is little to no possibility of the West ending it. It's just not viable politically in the current environment.Brave New EuropeeJason Hickel – The Age of Imperialism is Not Over—But We Can End Ithttps://braveneweurope.com/jason-hickel-the-age-of-imperialism-is-not-over-but-we-can-end-itGive us more money and more resources.Sputnik InternationalSpace Force General Claims China Moves 'Twice the Rate' of US in Space Race, May Overtake It by...

Last Thursday, I said we were just waiting on Congress to pass a continuing resolution to fund the government and the market would shoot higher.

 Blowback.India PunchlineMacron’s revenge for AUKUS betrayalM. K. Bhadrakumar | retired diplomat with the Indian Foreign Servicehttps://www.indianpunchline.com/macrons-revenge-for-aukus-betrayal/See also By MKBThis is a no-brainer, if the US leadership had brains. Lose Afghanistan and fail to take Iraq and Syria, so confront the combined might of Russia and China as nuclear states with hypersonic capabilities against which the US has no defense?Biden-Putin Meeting Is A...