Mike Norman Economics

Backgrounder.The Vineyard of the SakerSochi probes the Utopia of a multipolar worldPepe Escobar

Economist Michael Hudson discusses the update of his book “Super Imperialism: The Economic Strategy of American Empire” and the financial motivations behind the US new cold war on China and Russia.Video and transcript.The GrayzoneSuper Imperialism: The economic strategy of American empire with economist Michael HudsonBen Norton and Max Blumenthal

It is Wednesday and so just a few points today. I obviously like data as it tells me a lot about the world and often forces me to alter my views on things. While I mostly analyse economic and financial data, which is my professional skill, I also like to investigate other data sets on things that interest me. Today, I am looking into the vaccine question, which has been playing on my mind lately as the Australian political class, under pressure from all sorts of business lobby groups who...

I said this would happen due to the slowdown in the fiscal support. But bank credit likely to spur a rebound in the fourth quarter.

One of the recurring criticisms I face when presenting at events comes from those who say they are ‘socialists’ or ‘Marxists’. They accuse me in various ways of being an apologist for capitalism, for offering palliative solutions to workers, which will delay the break down of the system and the revolution to socialism and communism. These critics proudly announce they follow Marx’s solutions and that they reject Modern Monetary Theory (MMT) because it is just a stooge for capitalism. The...

 A lot of Anti-China propaganda in this video, but it's interesting. China's approach, which is to have a lot of government involvement, has paid off well. When it comes to green manufacturing, China is now a clean-energy powerhouse. Its market dominance from solar panels to electric vehicles took long-term planning and a level of financial investment only state-controlled banking systems can deliver. By 2030, China will have an outsized influence on this strategic industry, and it’s poised...

 I quite like the idea of a digital currency because it will make it much harder for organised crime to operate, but I would still like anonymity for daily transactions. China said it intends to keep cash, but they are also saying here that for small transactions people will have more animosity with the new digital Yuan than they do with regular digital payments. The new digital currencies do not need extensive mining either so they don't more energy that regular digital transactions. Mu...

Moon of Alabama (???)The New Chinese Wonder Weapon Which Likely Isn't OneRTConvenient and inexpensive way to space-travel: China responds to reports of hypersonic missile launch that apparently shocked USStrategic Culture Foundation (war futures)The U.S. ‘Longer Telegram’ Is Hostile Interventionism in China, Posing as CompetitionTASS (parting of the ways)Moscow suspends operation of its mission to NATO from November 1 — LavrovFrench envoy leaves Minsk, Belarusian envoy recalled from Paris —...

In my view, the first step in "thinking about inflation" is not thinking about it at all, but rather jettisoning the concept entirely since it is not reducible to simple inputs, as commonly supposed, but rather involves a constellation of factors whose importance varies with conditions affecting both supply and demand on one hand, and institutional factors as well. There is too much investment in what amounts to nonsense like "monetary policy" to redefine the terms so as to fit a realistic...

Expanding bank credit over the next 6 weeks should rekindle the market rally. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/