Mike Norman Economics

I have argued in many posts that ‘profits call the tune’ in capitalist accumulation. What I mean by that is that any change in business profits (and profitability) will lead to changes in business investment – and not vice versa over time. Profits are key to capitalist investment, not ‘effective demand’ as Keynesians argue, or changes in interest rates or money supply as Monetarists and the Austrian school argue. I differ strongly from the post-Keynesian view that profits are a ‘residual’...

A rate hike is not a rationale for buying the dollar and selling gold.

Moon of Alabama (where's the beef?)Summit SummaryU.S., UK Information Warfare Behind Regime Change Drive In BelarusRussia Observer (much ado in the press over nothing)PUTIN-BIDEN SUMMITPatrick ArmstrongPOLITICO (it's OK when we do it)Biden derides Putin's 'ridiculous' whataboutismNick NiedzwiadekThe Intercept (Joe Liberman is still with us)Leaked Audio of Sen. Joe Manchin Call With Billionaire Donors Provides Rare Glimpse of Dealmaking on Filibuster and January 6 CommissionLee FangSputnik...

Somebody had to say it. Caitlin Johnstone does a decent job of it, although far more could be said and documented with evidence.The fact that not one person in the press pool questioned or criticized Biden’s outrageous remarks tells you everything you need to know about the western media and what its real function is....The US position is that it is OK for us to do since we are exceptional.CaitlinJohnstone.comAmerica’s Soup-Brained President Says The US Never Interferes In Other Countries’...

Ditlev Blicher, Maersk Asia Pacific Managing Director, was quoted by Seatrade Maritime, who said Yantian port is operating at a 40% capacity, and "We're expecting that to continue for the next month with significant delays for vessels to be able to berth."A recent surge in COVID-19 infections in the port area and prevention and restriction measures put in place by local authorities is the primary reason for the lack of capacity at the port...Zero HedgeMaersk Warns South China Port Congestion...

Transcripts.The Vineyard of the SakerStatements after Putin / Biden summitSee alsoSo who prevailed today? Cui bono, one must ask. As suggested above, the Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex (MICIMATT), never more powerful, sleeps soundly tonight.AntiWarRay McGovern: Trust Lacking at Blah Summit

Little change in policy but highly emotional reaction. Not to mention the interpretation of what it all means was wrong. 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/

 Over the last 30 years modern China has built a civilisation that is as advanced as the West, but without war, imperialism, or empire. Eric li says this is a first in history and is a model to be celebrated, but the West, which prefers imperialism, neoliberalism, and wealth extraction, has surrounded China with military bases and warships instead. [embedded content]

 BRACEVILLE, Ill. - Radioactive tritium has leaked from three-quarters of U.S. commercial nuclear power sites, often into groundwater from corroded, buried piping, an Associated Press investigation shows.The number and severity of the leaks has been escalating, even as federal regulators extend the licenses of more and more reactors across the nation.Tritium, which is a radioactive form of hydrogen, has leaked from at least 48 of 65 sites, according to U.S. Nuclear Regulatory Commission...