Mike Norman Economics

Short and of interest about "parallel currency." The [US State Department] spokesman, Morgan Ortagus, called the bank an “illegitimate parallel entity,” stressing that the Government of National Accord (GNA) bank, the Central Bank of Libya, is the country’s only legitimate central bank. SouthfrontU.S. Seizes $1.1 Billion Of Russian-Printed Libyan Currency In Joint Operation With MaltaSee alsoThe Russian Foreign Ministry begs to differ.TASSUS Department of State statements are counterfeit,...

Coming to a job near you soon? Interestingly, there is push on the "far left" to completely automate and robotize, making wage workers obsolete.* These "futurologists" see this quantum leap in technological innovation and its scaled application as a "new mode of production" in the Marxist sense of making possible "new relations of production" based on treating technology as a public utility under public control and operated for public purpose rather than subject to private ownership. No...

China and Russia, because they have given up exceptionalism, full spectrum dominance and all those other fantasies, only have to counter the U.S. military and only in their home neighbourhoods. That is much cheaper and much easier. What’s really expensive, because unattainable, is chasing after the exceptionalist goal of dominance in everything, everywhere, all the time. That’s a “tried and true” road to oblivion. Defense is a lot less costly than offensive, especial "full spectrum...

Donald Trump, writes the outlet, has repeatedly criticised Germany, and Chancellor Merkel specifically, over issues such as Berlin's defence spending and commitment to NATO, while Merkel, in turn, publicly took issue with the Washington administration's “unilateral approach” to a succession of foreign policy issues. Sputnik InternationalDonald Trump and Angela Merkel Reportedly Clash Over Nord Stream 2 Gas Pipeline

Biden lawyering up?Sputnik InternationalExclusive: Ex-Ukrainian President’s Aide Opens Up on Biden Tapes, Democrats' Money Laundering

We've been seeing households pay down debt for the last 11 weeks, but businesses may be starting now, too. Trade and invest using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

Pepe Escobar is emerging as a public intellectual in addition to being a reporter on geopolitics as someone worth taking into account. He is accomplished in several language, widely read, widely travelled and well-connected. He brings a different lens to examine the world scene.Strategic Culture FoundationOur Grim Future: Restored Neoliberalism or Hybrid Neofascism? Pepe Escobar

Wondering when we will finally see some evidence. This also suggests stock market rally over-extended. Trade and invest using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

MMT friendly. Favorite lines: Money is created in one of two ways: by the government making payments (Uncle Sam writes you a check, the bank then credits that to your account) or the bank extending a loan, in which case the bank credits money to your account against a contract saying you’re going to pay it back. The government extinguishes money by taking in taxes; the bank extinguishes it by taking in loan repayments. The question of how much money is created is determined by how much...

Now that many people have time on their hands... Open CultureAlbert Einstein Explains Why We Need to Read the ClassicsJosh Jones See also For these reasons, we should be on our guard not to overestimate science and scientific methods when it is a question of human problems; and we should not assume that experts are the only ones who have a right to express themselves on questions affecting the organization of society.... Einstein played the violin. See also Perhaps one of the...