Mike Norman Economics

Another timely rant.CaitlinJohnstone.comAnyone Who’d Support Going To War Over Taiwan Is A Crazy IdiotCaitlin Johnstone

Sounds like a plan, especially now with the implosion of RE speculation. The bottom line seems to be controlling systemic risk. Second is addressing sources of economic rent extraction, monopoly in particular. It appears they have thought this through and it is not a knee-jerk reaction.Yahoo FinanceChina’s Central Bank Governor Vows More Fintech CrackdownBloomberg News

 Paul Robinson calls BS on blaming Putin for the gas crisis in Europe.IrrussianalityFull of GasPaul Robinson | Professor, Graduate School of Public and International Affairs at the University of Ottawa

Of course, the bug is enforcement. Plus, stronger nations will likely dominate (domineer). Hard to see how this actually works on the practical level.Sputnik InternationalGlobal Corporate Tax Rate Deal Agreed On by Over a Hundred CountriesAndrei Dergalin

“If we’re actually trying to create a paradigm shift, where average people can start to understand how money works,” [Rohan] Grey added, “the coin is big enough and loud enough and shocking enough to cut through the noise and reframe the entire debate.” The starting point for that shift, he says, is to create a widespread recognition that debt and money financing are “functionally equivalent.”...The New RepublicMint the $1 Trillion Coin to Fight Climate Change | The New RepublicKate Aronoff,...

For both Marx and MMTers, money is a social relationship. For Marx, the social relationship is fetishized in a commodity for reasons that stem from the nature of commodity production. Money only becomes necessary, for Marx, when it is impossible for a currency to represent social labor time directly, which is the case under commodity production in which concrete labors are converted into abstract labor (i.e. marxian value) only indirectly through the workings of the ‘law’ of value. For...

This “mainstreaming” of blockchain applications marks the end of the first stage of the technology’s development. Now, with the help of regulators in a range of countries, cryptocurrency is entering the next phase of its evolution: becoming an investable asset."Investable asset" implies a store of value. Hard to see crypto as anything more than a speculative vehicle at this stage owing to extreme volatility, crime, government opposition, etc.,  relative to other recognized stores of value....

MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex)The use of phony metrics to sell the war was not new to cynical enlisted men in Afghanistan. They considered it one of the main features of what they called a “self-licking ice cream cone” or “SLICC”, which a popular glossary of military slang defined as any program that “appears to exist in order to justify its existence and produces irrelevant indicators of success.” Responsible StatecraftHow the...

The updated and expanded 3rd edition of Super Imperialism: The Economic Strategy of American Empire is now available.This highly respected study of U.S. financial diplomacy explores the faults built into the core of the World Bank and the IMF at their inception. Forensic detail reveals how the world’s core economic functions were sculpted to preserve US financial hegemony. Difficult to detect at the time, these problems have since become explicit as the failure of the international economic...

45 indicating much concern about the present “inflation!”… BIG BIG trouble!“Unfortunately, when you look at what is happening now with Afghanistan, the Border, inflation, etc., our Country is not being saved. It is in big trouble!”Statement by Donald J. Trump, 45th President of the United States of America https://t.co/zk7SuRDfHH— John Fredericks (@jfradioshow) October 7, 2021