Mike Norman Economics

Backgrounder.The Vineyard of the SakerPutin, crusaders and barbariansPepe EscobarSee alsoIn my view, Amnesty rightly denied to recognize Navalny as a "prisoner of conscience" since his past behavior and previous statements reveal that the man has no conscience. He is an opportunist rather than a defender of rights.But more significantly from the political standpoint, polling backed by a record of  poor performance in elections in which he participated show that he has very little support in...

Art Degree Summers digging in.... as he should....Will inflation make a roaring comeback this year?"We're going to be dealing with the most serious incipient inflation problem that we have faced in the last 40 years," says former Treasury secretary Lawrence H. Summers.https://t.co/Ser68tMcTU pic.twitter.com/IgNzMCrJTH— Bloomberg TV (@BloombergTV) February 27, 2021

This is what they last said they are going to do:Next quarter they are estimating $393B of additional USD savings but are only planning on providing an additional $95b of UST securities accounts ..... and zombie morons are currently thinking “hey! what if China doesn’t lend us the money!?!?”..... FTR.

LOL how about you don’t use the dialogic method in the first place that’s how.... you use the scientific method...  How does one learn from people one disagrees with?— Tim Allen (@ofctimallen) February 26, 2021

Addressing the feared deep and lasting negative impact on the US economy itself, WSJ explains:The rule could affect millions of American businesses, according to a Commerce Department estimate, potentially requiring them to get government clearance for purchases and deals involving sophisticated technology with what the regulation calls a "foreign adversary," or face potential unwinding of the deals or other enforcement.Everything from sophisticated electronics, most especially computer...

As Johanna Ross observes, this is geopolitics and geo-strategy in the style of the grand chessboard on which great powers contend for control of territory. What she doesn't point out is the that real objective of the US/UK is first forcing Russia to submit to US/UK imperial rule so that it can use this leverage on China's Western border, along with the Seventh Fleet and bases surrounding China to the east to force China into submission, thereby cement permanent US/UK hegemony as the first...

Zombie attack.Bond Economics Bond Market PanicBrian Romanchuk

Popular explanation of currency sovereignty and its implications for the EZ. Plus a Wynne Godley quote.Thomas Fazi and Bill Mitchell wrote Reclaiming the State together. Fazi is an Italian journalist.SpikedThe EU will choke off Europe's recoveryThomas Fazi

Just because you are paranoid doesn’t mean you’re not being watched..... Not yet seeing uptick in New Yorkers returning to offices as per @KastleSystems card swipes … relative to last March, there has been very little recovery & off recent “high” in October @Bloomberg pic.twitter.com/mBv4ek2j2G— Liz Ann Sonders (@LizAnnSonders) February 25, 2021

Once an obscure topic, China’s industrial policy now gets attention from heads of state. The entire US-China trade war waged by the Trump administration was, in formal legal terms any way, justified as a response to distorting industrial policy. Understanding industrial policy seems to be a requirement for participating in current intellectual debates about China.Thankfully, Barry Naughton has written a short and highly readable book, The Rise of China’s Industrial Policy, 1978 to 2020, that...