Mike Norman Economics

Veering away from the Global War on Terror back toward great power competition. Oh, and then there is Iran. And, of course, Russia is also on the front burner. Biden was Obama's point man in Ukraine.Defend Democracy PressUS Commander: Troops Must Be Ready for Conflict With ChinaIsraeli minister warns of war if Biden returns to Iran Deal

The key pick is Treasury secretary. Both Bill Clinton and Barack Obama showed their hand with Robert Ruben and Larry Summers, respectively.Zero HedgeJanet Yellen Said To Be Biden's New Favorite For Treasury SecretaryTyler Durden

Corruption watch.Wall Street On ParadeBig Wall Street Donors to Biden Will Maneuver for Key PostsPam Martens and Russ Martens

"The U.S. has imposed their tariffs following the WTO ruling in (the) Airbus case. Now we have a WTO ruling also in Boeing, allowing us to impose our tariffs, and that's what we are doing," Dombrovskis told reporters. "Of course, we remain open for a negotiated solution. Our proposal remains on the table that both sides withdraw their tariffs," he said but noted that despite several appeals, "so far, the U.S. has not agreed to withdraw their tariffs."Trade war heats up.Zero HedgeEU To Slap...

One day doesn't make a trend, but those expecting inflation are seem this as evidence. Zero HedgeWith 10Y Yields Soaring, Traders Start Pricing In Rate HikesTyler Durden

But it is expected that Biden will pick from the establishment base. No progressives on this list. For one thing, they probably could not get confirmed by a GOP Senate anyway, and given all the talk of unity and bipartisanship, Biden would want to avoid picking fights out of the gate. Progressive will likely get some bones thrown to them to chew on, but it doesn't look like it will be cabinet level. The prognosis is a return to hawkish foreign policy, pleasing the military-industrial...

Backgrounder on Central Asia and India's foot in the great game for control of the Eurasian land mass. This area of the world is going to be rising importance in the coming years and decades, so might as well get acquainted with it. (SCO is Shanghai Cooperation Organization.)Prime Minister Narendra Modi should keep in mind that the US doesn't have allies, it has vassals and colonies. The plan of the US corporate elite is to colonize India financially. In fact, Modi has to know this, but he...

Jens Weidmann is concerned about using water to put out a fire now because we might need it later for something.BISJens Weidmann: Too close for comfort? The relationship between monetary and fiscal policy

Steve Cecchetti and Kim Schoenholtz are authors of textbook on money and banking. Here is their take on goings on at the US Treasury and Fed, with questions they would like answers to from officials.Money & BankingThe Case of the Treasury Account at the Federal ReserveSteve Cecchetti and Kim Schoenholtz

Australia says it's continuing to monitor what top officials have said are "deeply troubling" signs that China is actively initiating trade disruptions as retaliation amid downward spiraling relations between the two major trade partners.Since last week regional reports have said Chinese buyers were warned by Beijing not to purchase seven categories of Australian goods, which has set Canberra and firms across the continent on edge given China is recipient of nearly one-third of all...