Mike Norman Economics

Bull in the china shop diplomacy. (Pun intended)India PunchlineTrump’s China policy at a cul-de-sacM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service

Fisking more imperial propaganda.Dances with BearsANGELA STENT INFLATES BALLOON IN US WARFIGHTING AGAINST RUSSIAJohn Helmer

Something you should be aware of if you aren't already. Qualified immunity from legal accountability and redress. Blank check. Things like this reveal how and why the system cannot be reformed but rather must be entirely redesigned and restructured. Anti-EmpirePolice Act Like Laws Don’t Apply to Them Because of ‘Qualified Immunity.’ They’re RightPatrick Jaicomo

WHO expresses caution on whether there may be protection from prior exposure to some cold viruses; scientists examine if some people are more vulnerable to infection than others The conspiracists are saying that C19 is not particularly harmful to the vast majority of people, and if their figures are correct, could this explain the mystery of why C19 didn't do as much harm as the scientists expected. It is only an hypotheses, and more research is needed.If this turns out to be the case, we...

Russia is getting blamed for the US riots, rather than the US economic and political failed policies.I read an article yesterday about GMOs, which said that Russia had spread conspiracy theories about their dangers. These conspiracy theories are getting out of hand. Although GMOs do appear to be safe. [embedded content]

I was reading what I thought was a good article earlier about C19 conspiracies and I thought I might tweet it, except two thirds of the way through it blamed Russia and China for spreading some of the these theories to sow discord in the West. Fortunately, this Guardian video doesn't go there. [embedded content]

Finally, CNN found whom to blame for the recent spike of violence in the United States. It’s the ‘Russian trace’ that, according to CNN, should be checked in the case of Minneapolis riots. Donald Trump calls it "fake news" on Twitter.Meanwhile the wheels aren't just falling off, they are being burned up. SouthfrontCNN Pushes ‘Russian Meddling’ Version In Its Coverage Of Minneapolis Riots

Keeper Keynes quote anticipating the fundamental assumption of MMT that the only actual constraint is real resources, which is the foundation of Stephanie Kelton's new book, The Deficit Myth (available June 9). Professor DeLong does not state this explicitly, but we can probably assume that this post is not a coincidence and it is as close as he wants to get. Anyway, Keynes make the point that so-called affordability is a non-issue.  Austerity in the name of fiscal responsibility is a...

Team Trump has vociferously announced its own strategy. Expect serial, silent Sun Tzu counterpunches. Asia TimesBeijing sees Trump’s hand and won’t fold Pepe Escobar

Tyler Cowen did a review of "The Deficit Myth" by Stephanie Kelton, which is to be released June 9 (Amazon affiliate link). Since I have not read the book yet myself, I cannot comment on his views about the book. However, Cowen makes some criticisms of Modern Monetary Theory (MMT) that are worthwhile responding to. I am turning to writing a short primer on MMT, and will probably have a chapter on critiques that I feel are useful. (My estimate is that over 90% of "MMT critiques" consist of...