Mike Norman Economics

As reported by Reason’s Eric Boehm, a new analysis from Moody’s Analytics finds that only about 8 percent of the tariffs’ costs have fallen on China. In contrast, US consumers have suffered a whopping 92 percent of the costs.Activist PostWe Just Got Proof that Americans, Not China, Are Paying for the TariffsBrad Polumbo

 It sounds like the stuff of Kremlin propaganda, but it’s not. Last week Hromadske Radio revealed that Ukraine’s Ministry of Youth and Sports is funding the neo-Nazi group C14 to promote “national patriotic education projects” in the country. On June 8, the Ministry announced that it will award C14 a little less than $17,000 for a children’s camp. It also awarded funds to Holosiyiv Hideout and Educational Assembly, both of which have links to the far-right. The revelation represents a...

It is Wednesday so a blog lite day for me. The next part of this week is a bit up in the air for me after the Covid outbreak that resulted from a breach of quarantine in Adelaide has spread to Melbourne and looks a bit ugly. Fingers crossed that I can get back home to Melbourne tomorrow. Today I briefly review the latest payroll data from the Australian Bureau of Statistics, which shows that despite all the bluster from the Federal government to the contrary, their fiscal retreat in March is...

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 Doctors, economists, lawmakers, and civil society groups fighting the WTO waiver are funded by the pharmaceutical lobby.JUST BEFORE GOING live on Al Jazeera last week, Achal Prabhala, an activist for equitable access to medicine, performed a quick internet search on his sparring partner in a debate on the proposal to share vaccine technology with low-income countries.It didn’t take long before Prabhala found that his opponent, an academic who favors pharmaceutical monopoly rights, leads an...

Only the money counts in Washington. Phoenix Media Co-op asked nuclear policy specialist Joe Cirincione about the power of the arms lobby in US politics. And he explained how treating China and Russia as enemies helps to justify massive spending on weapons, especially considering that “the defence-industrial complex has got such a hold over Congress”.Cirincione said:I worked in Congress for 10 years. I’m telling you – it’s money that matters when it comes to Congress. … They listen a lot...

Does Palestine belong to the Palestinians?The genetic data is totally consistent with the idea that Palestinians are direct descendants of ancient Jews who never left ancestral lands and later converted to Christianity and Islam. Science Shows that Jews and Palestinians are Siblings!

Reading between the lines, Germany (the people that run the place) said no, and Angela Merkel would not backdown in the face of threats. This was not a gift to Russia by Biden, as some make it out to be. It's about knowing when to hold 'em and when to fold 'em.Germany is pivotal in the global system as presently configured. The US was trying desperately to prevent Germany from swinging east through energy dependence. But the threat of sanctions against a top-level ally just resulted in a...

And the "inflation" impulse has passed, as I also predicted. 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/

AbstractMinority views on technical issues are largely absent from the public arena. Increasingly corporate organization of science has led to knowledge monopolies, which, with the unwitting help of uncritical mass media, effect a kind of censorship. Since corporate scientific organizations also control the funding of research, by denying funds for unorthodox work they function as research cartels as well as knowledge monopolies. A related aspect of contemporary science is commercialization....