Mike Norman Economics

 I did change my mind about Europe. I know from an MMT POV its terrible, but I thought it was better than what the Brexit crowd had to offer. It's best to stay in and try to reform it, and dump the Euro, so countries can deficit spend again. Although Europeans have a lot in common, they are also too different to become one country at this present time.George Monbiot is superb here. It's hard to figure him out: the left hate him because he supported the Syrian war, and I bet he's xenophobic...

If the Fed decides to cut its asset purchases it's a sure bet the zombies will sell stocks. Don't do what they do.

Elon Muck on a roll.OilpriceTesla Smashes Expectations With Q2 EarningsCharles Kennedy

As this most disrupted of school years draws to a close, it is time to take stock of the impact of the pandemic on student learning and well-being. Although the 2020–21 academic year ended on a high note—with rising vaccination rates, outdoor in-person graduations, and access to at least some in-person learning for 98 percent of students—it was as a whole perhaps one of the most challenging for educators and students in our nation’s history.1Our analysis shows that the impact of the pandemic...

The Olympics have become just another commercialization of sport. If something can be capitalized, it will be, even war, or maybe especially war.Bill Mitchell – billy blogAnd the winner is Brisbane … well kind of … or maybe notScott Baum, Professor of Urban and Regional Analysis, School of Environment and the Cities Research Institute, Griffith University

[unable to retrieve full-text content]LOL commies worried about their stock portfolio... strange days... notice how they price it in USDs… USD zombies…China’s state media moves to reassure rattled investors after rout wiped US$574 billion off stock market https://t.co/mP5pN8k1BD— South China Morning Post (@SCMPNews) July 27, 2021

Bannon, Navarro and a gold dude provide a breakdown on the current debt ceiling situation… I think this segment identifies pretty well the current populist libertarian MAGA GOP wing position on “debt ceiling”… MMT gets a disparaging mention…If it is re-suspended they think it’s bearish USD, if US defaults they think it’s bearish USD, if it is re-suspended -they think it is bearish bonds and if US defaults they provide no opinion on bonds…

Cathie must have got a tip-off on the commie crackdowns…(Bloomberg) -- Cathie Wood is exiting Chinese stocks .. [getting] rid of shares in tech behemoth Tencent Holdings Ltd. and property site KE Holdings Inc. every day last week, according to data on the firm’s trading activity.(h/t NatAlliance)— Carl Quintanilla (@carlquintanilla) July 26, 2021

When you see a Western piece saying that Russia is deficient in this or that, it’s wise to see it as just a projection of the West’s shortcomings.About Russia's economy and infrastructure (versus the US).US projection is hardly limited to Russia. In fact, in many cases the so-called deficiencies of other countries that the US points to were caused directly by US foreign policy.Strategic Culture FoundationProjection And Deflection: Russia’s InfrastructurePatrick Armstrong

The US shifts emphasis from bases of chaos to the perceived renewal of "great power competition between the "free world" and "authoritarian dictatorships" China and Russia. Back to the Cold War and vastly increased military spending by the US and allies. China and Russia snicker as the "allies" stretch themselves thin.NEOWashington Relocating from the Middle East to Southeast AsiaSalman Rafi Sheikh