Mike Norman Economics

Important because of who wrote it.Project SyndicateChina’s Response to DecouplingYu Yongding, a former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, served on the Monetary Policy Committee of the People’s Bank of China from 2004 to 2006

Note that there is a difference between "de-dollarization" as replacement of the USD as the dominant global reserve currency and dollar avoidance to reduce exposure to political and economic manipulation by the US government and financial system.Geopolitical Economy ReportUS Congress plots to save dollar dominance amid global de-dollarization rebellion Ben Norton

...what actually is the base rationale for action? A particularly searching answer was offered in mid-June by ECB Executive Board member Isabel Schnabel in a talk she gave in the financial center of Luxembourg.Most of the post answers this question. Depressing from an MMT standpoint.ChartbookChartbook 223 Acting out of ignorance: the new logic of central bank inflation-fightingAdam Tooze | Shelby Cullom Davis chair of History at Columbia University and serves as Director of the European...

No impact on US markets, but Putin is still in control, if not on shaky ground right now.

Neil summarizes the MMT position as put forward by Bill Mitchell.There is a need to distinguish special cases from the general case. While the general case MTT view may be agreed upon, reactions to differences in special cases (US, GB, Australia) may create the appearance of disagreement about the general case where there is no fundamental disagreement since the apparent disagreement is accounted for by national conditions that supervene.This is an interesting post not only in terms of...

Last week – RBA wants to destroy the livelihoods of 140,000 Australian workers – a shocking indictment of a failed state (June 22, 2023) – I wrote about the sense of being in a parallel universe when one reads official statements from the Bank of Japan and juxtaposes them against the stream of statements coming out of other central banks. The day after I wrote that post (June 23 2026), the Japanese e-Stat service (the portal for Japanese government statistics) released the latest – Monthly...

If you're counting on Asia's many new power centers to compete and clash – don't. The Greater Eurasia Partnership is set to integrate them all – from the SCO, EAEU, and BRICS, to emerging new currencies – in order to replace the 'rules-based order [my-way-or-the highway].'The CradleThe Greater Eurasia project: Building bridges and breaking barriersPepe EscobarRelatedSputnik International (Russian state-sponsored media)Existing Global Financial System Exhausted, Not Up to New Challenges -...

My subscribers were buying the dip on the anticipation of the return of positive fiscal flows.  what were you doing? Selling? 

The same insidious lie about leaving debt to our kids and grandkids. This Hass to stop.