Mike Norman Economics

Backgrounder.Consortium NewsPEPE ESCOBAR: The India-China, Himalayan Puzzle

Moon of Alabama seems to assume that bad journalism is the cause.Others assume rather that the media he mentions and similar establishment voices in other countries are complicit in a disinformation/propaganda effort.See Jorge Marinho, Journalists and Intelligence Services.Moon of AlabamaEvidence Free Press Release Claims 'Russia Did Bad, Trump Did Not Respond' - NYT, WaPo Publish ItSee alsoZero HedgeBuzzFeed "Reporter" Who Got Zerohedge Banned On Twitter, Fired For Plagiarism Tyler...

Yves here. Michael Hudson discusses the deflationary impact of the coronacrisis and how modern, misguided approaches to unsustainable debt loads are making matters worse. Remarks given at the 1st ASECU Teleconference ‘Systematic Crises Triggered the Current Pandemic & Progressive Way-Outs,’ May 8, 2020 Naked Capitalism Michael Hudson on Coronavirus and Debt Winners and LosersYves Smith

Zero progress here.... ie where it matters..... ZEEEEEEEEEEERRRROOOOOOOOOOO...... So what of the concern that the rapid growth of bank reserves will prove inflationary? This concern is misplaced. The Fed can adjust the interest rate it pays on bank reserves, controlling the cost of credit and influencing whether the reserves are lent out. Only when the bank reserves are lent out does the expansionary credit multiplier process start to work. The Fed controls this process because it controls...

I won't be a hipocritic, I have Amazon goods popping through the door two or three times a week. I haven't been well for the last few years, so it's been a godsend for me, and the same for ebay. You have to be careful, though, as sometimes Amazon significantly over charge, so it's best to check around. I bought something for a fraction of the price the other day on eBay. But you can hardly criticise Amazon when it hardly makes a profit - it has to raise money somewhere. In two short decades,...

Status update. Iran is apparently doing pretty well, all things considered.The Vineyard of the SakerWhy Iran won’t be broken Pepe Escobar

Backgrounder by a self-identified "nationalist." The Unz Review Why I Voted for "The Russian Amendment" to the Russian Constitution Anatoly KarlinSee alsoWhile I support the right not to be discriminated against based on age, sexual preference, gender, ethnicity, etc., I think it is overreach for one entity to attempt to impose its values on another, which is a continual bone of contention between liberalism and traditionalism.The historical dialectic between liberalism and...

As a result of NATO’s "soaring" military activity an unpredictable military-political situation is unfolding, according to the chief Russian delegate "Unstable" is probably a better term than "unpredictable."The difference is that NATO's force is offensive, while Russia's is defensive. It's much less costly in terms of resources to defend rather than attack. Dollar amounts are deceptive. It's "bang for the buck." "We see the NATO countries’ attempts at gaining military superiority. There...

India decoupling from China. RTIndia Blocks Imports of US Products Made in China Following Deadly Border ClashSee alsoIndia has long been well-known for its endemic corruption. Now sectarian nationalism is rearing its ugly head in the land of the rishis.India has neither recovered from the British Raj nor has it yet discovered how to do this As a result it remains in a colonial state with the elite now looking to the American Empire to save it from itself before it...

Anyone taking bets on how long the deal is going to last?Sputnik InternationalChina Reportedly Warns US That Trade Deal Will Be at Risk if Washington Crosses 'Red Lines'