Mike Norman Economics

 Joe Biden could be stripped of war powers after a bipartisan bill was introduced by senators on Wednesday Senators Tim Kaine and Todd Young are calling for the repeal of 1991 and 2002 Authorizations for the Use of Military Force The authorizations allow for the use of military force by a US president that have been used to justify years of attacks in the Middle East Kaine says they leave the country on a 'permanent war footing'It comes as Biden is accused of using the authorizations to...

Exclusive: Indo-Pacific Command requests to double spending in fiscal 2022Billions of dollars for new missiles to encircle China. For Washington elites, military is the only option to bully and contain China’s rise. There are no plans for fixing the US economy.What happened to good ol' capitalism and competition, which the US says it champions?WASHINGTON -- The U.S. will bolster its conventional deterrence against China, establishing a network of precision-strike missiles along the so-called...

Russia’s energy major Gazprom said on Monday that it had pumped more gas to China in February via the Power of Siberia pipeline than it had initially planned, more than tripling supplies compared to the same month last year. “The export of gas to China through the Power of Siberia gas pipeline continues to grow. Supplies regularly exceed our daily contractual obligations. The actual monthly volume of supplies in February is 3.2 times more than in February 2020,” Gazprom said in a statement....

My only regret right now is not having unlimited capital to deploy. 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

Interview.Brave New EuropePavlina Tcherneva – Guaranteeing the Right to Decent WorkMatthew D. Rose

The U.S. oil benchmark, WTI Crude, jumped early on Thursday to above $64 a barrel, soaring by more than 5 percent, after OPEC+ sources began telling reporters that the coalition may be close to agreeing not to increase their collective oil production in April. WTI Crude prices were surging by 5.06% at $64.21 as of 11:18 a.m. ET on Thursday. Brent Crude prices jumped above $67 per barrel, to $67.17, up by 5.10%, after OPEC+ sources started to leak insights from the ongoing OPEC+ ministerial...

"We have had a lot of discussions about certain restrictions on the Internet, but the Internet has already penetrated every sphere of our lives and for the most part, it should follow not only formal laws and legal rules, but the moral guidelines of society that we live in as well," Putin said. "Otherwise, society will destroy itself from within," he stressed.The president said that he wants the majority of citizens to understand this danger for the country’s future. "Because if there isn’t...

China Development Bank (CBD) has pledged financing for key emerging technologies in China via a 400bn yuan ($62bn) loan scheme, the South China Morning Post (SCMP) and others reported on Thursday.China's State Council pledged $1.4tn in May last year to decouple from US emerging technologies and develop domestic artificial intelligence, green tech, energy infrastructure, 5G, transport and numerous other projects.Sputnik InternationalChina Development Bank Backs $62bn Loan Scheme For Mainland...

China and Russia are whopping the West in the Global South. NYT ignores.Dean BakerThe New York Times Has not Heard of China’s (or Russia’s) VaccinesSee alsoDances with BearsHOW THE NATO ALLIANCE IS FIGHTING RUSSIA’S SPUTNIK V VACCINE WITH SUBSIDIES FROM STATE BUDGETS AND THE GATES FOUNDATION, HIDDEN BY THE FINANCIAL TIMESJohn Helmer

Will Biden repeat Obama's mistake and undershoot?WCEG — The EquitablogNew Great Recession data suggest Congress should go big to spur a broad-based, sustained U.S. economic recoveryAustin ClemensSee alsoBiden’s stimulus is not the stuff of economic revolution—it’s a mix of common sense and keeping the lights on. And the fundamental thinking behind the stimulus approach reflects a continuation of neoliberal policies of the past 40 years; instead of advancing broader social programs that could...