Mike Norman Economics

Politicizing and even weaponizing human rights through propaganda and disinformation to further one's interests undermines human rights. It is also hypocritical, which challenges its credibility.The Independent (UK)Focusing purely on injustices in China and Russia with a Cold War mindset damages human rights everywherePatrick Cockburn

Yves here. Michael Hudson kindly provided us with an advanced draft of this chapter from his upcoming book, since readers seemed particularly interested in the views of the Greeks on money, commerce, and power. Get a cup of coffee. This post is meaty if you plan to consume it in one sitting.Weekend reading.Naked CapitalismMichael Hudson: Plato, Aristophanes and Aristotle on Money-Lust, 399-380 BCMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a...

Pepe Escobar reads the tea leaves.The ball is in Victoria Nuland's court. (And you thought Joe Biden was president?)The Vineyard of the SakerPutin rewrites the law of the geopolitical junglePepe Escobar for The Saker blogSee also at VSAfghanistan.American plans something but ends up differentlyProf. Engr. Zamir Ahmed Awan, Sinologist (ex-Diplomat), Editor, Analyst, Non-Resident Fellow of CCG (Center for China and Globalization), National University of Sciences and Technology (NUST),...

China.The Vineyard of the SakerSay hello to the new multilateral bossPepe Escobar

Impressive. Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismMacau* Lectures on Super ImperialismMichael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking Macau * Macao Special Administrative Region of the People's Republic of China

Spoiler alert: it won't hurt the economy or kill the bullish outlook for equities. 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

 Traditionalism clashes with liberalism. The author is addressing Slavs, but it could be any traditionalist group, including in the liberal West. I am posting this since it illustrates what I have saying for some time about this conflict between traditionalism and liberalism at this moment in the historical dialectic. It is unlikely to be overcome easily, peacefully or in a short period.Let us Slavs create communitarian bonds. Individualism does not belong to us, but rather, to the decadent...

 Americans should find the hawkish push toward a new Cold War with China deeply troubling.Note too that China is not the Soviet Union. “Xi Jinping Thought” does not represent an exportable ideology. Unlike the Soviet leaders who railed against capitalism, China’s leaders embrace it, demonstrating a remarkable aptitude for harnessing the market to create wealth. The Soviet economy produced next to nothing that American consumers were interested in buying. Today, China produces almost...

Maybe "capitalism" isn't in decline, but rather neoliberal capitalism, where institutions are used to funnel gains up and socialize losses? As an economic theory, capitalism assumes "perfect competition," which in turn assumes "perfect markets," that is, markets are symmetrical eliminating asymmetrical market power. That phenomenon is a unicorn given income and wealth distribution as well as endowments that undermine equal opportunity.Could an equitable and functional version be implemented?...

I ran across some silly commentary about inflation that did not take into account base effects. I just want to explain how to avoid this problem using elementary results from systems theory. The short version is to use a first order low pass filter, which economists vaguely label an "exponential moving average" (or something like that). Since it was used to generate "adaptive expectations," I strangely labelled it "adaptive average" in the above figure.Bond EconomicsA Rant About Base...