Mike Norman Economics

Short explainer on Marx’s theory of Alienation… [embedded content]There is apparently a whole big thing under Marx wrt this “Alienation” … So if you are believing Marx here on alienation (uneducated climate nutter Greta Thumberg e.g.) you’re likely to form apocalyptic beliefs as a result… Not ideal imo…I wonder where Christendumb gets theirs?  All the debt doomsday morons?  The perma bears?  🤔

This is what is happening with all of the doomsday/apocalypse stuff you see out there these days… whether it’s “dollar crash!”… “debt doomsday!”… Christian “end times!” … “climate!”… etc…Social Alienation Social alienation is a person's feeling of disconnection from a group – whether friends, family, or wider society – to which the individual has an affinity. Such alienation has been described as "a condition in social relationships reflected by (1) a low degree of integration or common...

Summary: The Department of Defense uses obscure accounting to conceal its true cost from America’s citizens, assisted by the mainstream press. Long-time DoD expert Winslow Wheeler shows the real cost for our War Department. Like all debunking of our mad military industrial complex since President Eisenhower warned us in 1961, he has been ignored....Defense spending and the interest on the national debt approach 3T. Add non-discretionary spending like SS and Medicare and that's some real...

In Tuesday’s fiscal statement, the Australian government made a lot of noise about dealing with the climate emergency that the nation faces but in terms of hard fiscal outlays or initiatives it did very little, deferring action again, while ‘the place burns’. The Climate Council assessment was that the government “still seems to be on a warm-up lap when it comes to investing in climate action” (Source) and recommended the nation moves from a “slow job” to a “sprint”. I have previously...

👍U.S. Interest payment is now equal to Defense spendingAnd 30% of the debt has to be refinanced in the next 12 months at todays higher rates!!Hang on! 🚀 pic.twitter.com/stDRMEkpSm— Mark Moss (@1MarkMoss) May 11, 2023 And Fed’s IOR policy (now at over 5% annual) providing $14B/mo. of additional Capital to Depository system leading to a recent all time high in Depository system Residual:Hard to imagine how the Art degree brain could see any of this as debilitating…. 🤔

Video, podcast, and transcriptGeopolitical Economy ReportNY Times is wrong on dedollarization: Economist Michael Hudson debunks Paul Krugman’s dollar defenseBen Norton interviews Michael Hudson

Trump has the ball in the red zone… lower interest rates and a shit-canning of monetarism seemingly on the way in 18 months…Brandon needs to pivot on rates soon or he’s going to get Jimmy Cartered…Left-wing polls show President Trump trouncing Joe Biden, while DeSantis loses Wall Street, which is bad for him since he relies on the donors because he doesn’t have the People!pic.twitter.com/nIpD3qRDVQ— Liz Harrington (@realLizUSA) May 8, 2023

Polling not on Brandon's side... I assume most people blame Brandon stimmie and Brandon Russia sanctions for "inflation!"... so they probably think he should be the one to take the hit... people supporting  GOP on budget because they are weary of prices going up …. Brandon trying to blame “inflation!” on Monetarism is not working…  people aren’t buying it…Meanwhile Brandon no mention of rate policy moderation at all… might be ready to double down…Who should compromise most to reach a debt...

Last Friday (May 5, 2023), the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – April 2023 – which revealed continuing employment growth and and modest declines in unemployment. While the US Federal Reserve is deliberately trying to undermine the labour market, even though the inflation rate is falling relatively quickly, the April data suggests that the interest rate increases are not achieving the aim. There is no surprise there....

Video and transcript. Ben Norton interviews Michael Hudson for the Geopolitical Economy ReportMichael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismThe Hard Iron Financial FistMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University