Mike Norman Economics

Flows, government funding and tax drain.

Boy the “neoliberal conspiracy!” continues apace… these crafty neoliberals really getting over on the poors… good thing the government is just “an agent of capital!”….  🤔BREAKING: Citigroup $C closes at lowest price in 3.5 years pic.twitter.com/ssEEsdeT7r— Barchart (@Barchart) October 23, 2023

A little about my camping trip and some market analysis.

Scottish-born economist – Angus Deaton – recently published his new book – An Immigrant Economist Explores the Land of Inequality – in which he provides a swathing critique of the state of the economics profession, particularly in the way that it impacts on policy making and societal well-being. He is a microeconomist who made a name for himself studying consumer demand, which means he has not contributed anything significant to the field of macroeconomics, where I hang out. The title refers...

LOL sharp stick in the eye to the gold people! Would you rather have a free one-ounce gold coin, or $20 bucks? 🤦🏻‍♂️ pic.twitter.com/efvWzv54fz— Mark Dice (@MarkDice) October 19, 2023

Here’s your Art Degree figure of speech “price anchor!”  .  Link here.

17th Geopolitical Economy Hour, the show that examines the fast-changing political and geopolitical economy of our time. Video and transcript.Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismMultipolarity: China, Russia, Israel, India, and the difficult birth of a new worldMichael Hudson, Radhika Desai and Pepe Escobar

Transcript. Originally broadcast at New Rules on Rumble.Naked CapitalismRussia, China Unite Against US EmpireDmitri Simes, Jr. interviews Michael Hudson

Putin, Xi and the guests at the Belt and Road Forum made it quite clear this is essentially about new commodity supply chains; new and improved Maritime Silk Roads; and bypassing Western-controlled choke points – as the (attached) map shows. It’s all leading to an interconnected maze featuring BRI, BRICS, EAEU and SCO.The Russia-China-led BRICS 11 – and beyond (Putin gave a hint that Indonesia will become one of the new members in 2024) is already turning all Mackinder-drenched fantasies...

 Politics rules.This leaves the left with two options: either accept fiscal orthodoxy and try to win elections on the argument that the other side is being hypocritical, or hop into the Modern Monetary Theory camp and argue that the only real constraint is the tolerance of inflation. Of course, the establishment centre-left is generally going with the first option, and is discovering that electorates do not really care that much about hypocrisy.Bond Economics"Paying For Two Wars"Brian...