Mike Norman Economics

 While this is speculative, it is what Michael Hudson said would happen some time ago. It's taken some time but if this is true it is in full swing. As Pepe says, it's plausible. I would add it is also in character. This is what empires do. Hey, what is the purpose of having an empire if you can't use it?The Vineyard of the SakerPictures of a Ukrainian DreamPepe Escobar

What the ruling class does not like to talk about and does everything it can to submerge as vital to maintaining political control in a nominally democratic society.The pretense is that the concept of class that lies at the heart of Marx's analysis no longer is true. That may be true, but the sociological reality remains even though it has morphed with the maturing of capitalism.Chris Dillow has a message for the Labour Party. Oh, wait, the establishment of the Labour Party that controls the...

 First Assange and now Murray. Free speech and free press in UK no more?Both of these cases, along with several others, are likely to prove to have been strategic blunders when the debris settles. More hemorrhaging of  soft power.Sputnik InternationalCraig Murray Jailed for Eight Months for Contempt of Court Over Alex Salmond TrialSee alsoConsortium NewsMurray Sentenced to 8 Months in PrisonJoe Lauria

Stunning move in lumber today. 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

One thing I have discovered when discussing inflation is that discussions very rapidly get derailed into discussions of the “cost of living.” I take a view that is conventional within market and economic discussion: inflation is a macroeconomic concept, and the consumer price index is one way to measure it. However, many people view inflation as rising cost of living.There is a link between these two ideas, but they are not the same thing. It is entirely possible that the reader might...

The US is launching a New Cold War against Russia and China in an attempt to deflect our attention from the escalating crisis of global capitalism....Making the world safe for democracy capitalism. On the systemic level, it is about Western resistance to losing the half-millennium of dominance the West enjoyed during an age of imperialism and colonization, as well as enclosure (privatization) of the commons domestically. When a moment expires in the historical dialectic, resistance is...

Scale.India PunchlineChina on the horizon as ‘world’s pharmacy’M. K. Bhadrakumar | retired diplomat with the Indian Foreign Service

Interview and transcript.Yves here. We are delighted to feature another talk by Michael Hudson and Jonathan Wilson-Hargrove of the Poor People’s Campaign, hosted by Jim Vrettos of The Radical Imagination. Topics include an assessment of the Biden Administration and who really benefited from its relief to lower-wage workers. They also discuss the role of preachers in promoting economic justice, and how the business community enlisted some as early as the Great Depression to promote “free...

Experts and former prosecutors say that such fines have essentially become the cost of doing business, and that America’s entire approach to money laundering needs radical rethinking...."Capitalism" again.The New RepublicHow America Became the Money Laundering Capital of the WorldPeter Stone

 Last week, the Biden administration asked for a global waiver on vaccine intellectual property protections. What is this waiver? Why does it matter? And why did Biden stand up to big pharma? Unless Covid is brought under control, if could near bankrupt the rest of the world, with much of the cost falling back on the United States, but Big Pharma only cared about its bottom line. Even the Biden administration thought letting neoliberalism run amok was too much in the middle a global...