Mike Norman Economics

I don't know much about Evergrande, but given the origin of this blog did want to share some speculation. First, their debt is denominated in dollars, so unlike Russia in 98, default may not be optional (Russia could have printed rubles if it wanted). CCP may have enough US$ to make good on Evergrande obligations, but whether they do so, and what they ask in return, is unclear. When put in the context of China's forex dollar holdings, Evergrande's obligations seem small.…Short and worth a...

The periodic debt ceiling silliness has again erupted in the United States. Since I was feeling mildly unwell this week, I was largely out of the loop. If the reader wants a brief explanation of what the trillion dollar coin idea is about, I highly recommend my brief discussion in my latest book Modern Monetary Theory and the Recovery.If we go beyond the shameless self-serving plugs, it is quite easy to summarise my views....When the electorate gets tired of this nonsense, it will go away....

What idiot didn’t think this would happen….  420 to 9… House approves $1 billion for the Iron Dome as Democrats feud over Israel. https://t.co/SawsGJWN3m— Jesus is coming! Repent and be saved! (@allie_zpm) September 23, 2021

Boy, must be time to go all in bullish as there won’t be as much “crowding out!” come October 1st….  :pWhite House budget office tells agencies to prepare for government shutdownhttps://t.co/J4hc9wliy8— FOX Business (@FoxBusiness) September 24, 2021

Just when you thought you'd seen everything. Capitalizing cultural artifacts.Global Macro MonitorCulture As An Assetmacromon

Doubling the counterparty limit may have turned things short-term bullish. 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/

The Profits of War. The costs and consequences of America’s twenty-first-century wars have by now been well-documented — a staggering $8 trillion in expenditures and more than 380,000 civilian deaths, as calculated by Brown University’s Costs of War project. The question of who has benefited most from such an orgy of military spending has, unfortunately, received far less attention.Corporations large and small have left the financial feast of that post-9/11 surge in military spending with...

 Expect Russia to share more military and dual-use technology with China and Iran. Hey, it's just business, right?Sputnik InternationalUS House Passes Legislation Funding Israeli Iron Dome Defense System

I avoid post links to overtly political matters but this is relevant to unfolding events that involve a constitutional crisis. It's also a legal matter. The soft coup attempts, first against Trump and then against Biden, have taken dirty tricks to a new level. We will be paying attention to developments.Angry BearEastman’s six-point memo of instructions for overturning the 2020 election

The Asian Century shaping up?The CradleEurasia takes shape: How the SCO just flipped the world orderPepe Escobar