Mike Norman Economics

 "The natives are getting restless." Once the bear's claws tore away the veneer, a new era was launched. But it would not have happened without a fire-breathing dragon in the background. Now the long oppressed colonies are standing up. Empire is about securing cheap resources and cheap labor from the colonies, without which the lifestyle of the imperial elite  cannot be sustained.Consortium NewsPepe Escobar: No Respite for France as ‘New Africa’ Rises

Despite the rabble on the Right of politics that marches around driven by conspiracies about government chips in the water supply or Covid vaccines and all the rest of the rot that lot carry on with, the reality is that well-funded Right that is entrenched in the deepest echelons of capital are extremely well organised and strategic, which is why the dominant ideology reflects their preferences. That group appears to be able to maintain a united front which solidifies their effectiveness. By...

Fundraiser for a very worthy cause.This is Naked Capitalism fundraising week. 155 donors have already invested in our efforts to combat corruption and predatory conduct, particularly in the financial realm. Please join us and participate via our donation page, which shows how to give via check, credit card, debit card, or PayPal. Read about why we’re doing this fundraiser, what we’ve accomplished in the last year,, and our current goal, strengthening our IT infrastructure.Michael Hudson:...

I can give you the forward outlook for the next year. No, I don’t have a crystal ball. It’s the flows.

Even with Friday’s record flow day, flows are still trending down.

 That didn't take long.Huawei's Mate 60 Pro is powered by a new Kirin 9000s chip that was made in China by Semiconductor Manufacturing International Corp (SMIC), TechInsights said in the report shared with Reuters on Monday.Huawei started selling its Mate 60 Pro phone last week. The specifications provided advertised its ability to make satellite calls, but offered no information on the power of the chipset inside....Buyers of the phone in China have been posting tear-down videos and sharing...

The usual response to critics who state things like I just did is “give me a better model.” The idea is that we need to replace one reductionist model with another reductionist model. The reasoning seems to be that economics is like physics, where a lot of the history of the field is doing exactly that. (Physicists might be getting into “complexity,” which may or may not be a mathematical pseudo-science. In any event, this is not what people have in mind when they compare economics to...

People try to avoid discomfort and adversity, but that is the wrong strategy. 

Stephanie Kelton@StephanieKeltonAmazon is promoting the eBook version of The Deficit Myth. A one-day promotion @ $3.99

A little backing and filling today, but nothing of consequence.