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Mike Norman Economics

China links at ECNS

Pushing backECNS (Chinese official English news service)Xi speaks with Biden over phone (A Chinese version of the meeting)http://www.ecns.cn/news/politics/2022-07-29/detail-ihcarefn4813941.shtmlChinese spokesperson slams NATO for strategic concept referring to Chinahttp://www.ecns.cn/news/military/2022-07-29/detail-ihcarefn4813938.shtmlRacism causes Asian Americans 'collective trauma,' says experthttp://www.ecns.cn/news/2022-07-28/detail-ihcarefn4813588.shtmlChinese spokesperson refutes U.S....

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Is this or is this not a recession? It doesn’t matter, there are much bigger changes afoot — Philip Pilkington

What is going on? Simply put, the West is getting poorer. We are seeing two things at once. First of all, policymakers have lost the plot and started intervening heavily into the economy with lockdowns and various other policies that destroy the supply-side of the economy. Secondly, we are seeing an enormous geopolitical shift centered around the war in Ukraine. The old model where the rich West runs large trade deficits with the poorer developing countries in exchange for worthless paper is...

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Links — 29 July 2022 Part 1

India PunchlineLavrov is on Blinken’s list of people to callM. K. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassadorhttps://www.indianpunchline.com/lavrov-is-on-blinkens-list-of-people-to-call/Reminiscence of the FutureHow The Tables Have Turned.http://smoothiex12.blogspot.com/2022/07/how-tables-have-turned.htmlHow to Troll Professionally and Mercilessly. ))Andrei Martyanov, former USSR naval officer and expert on Russian military and naval...

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Michael Hudson — American Diplomacy as a Tragic Drama

As in a Greek tragedy whose protagonist brings about precisely the fate that he has sought to avoid, the US/NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy. Naming China as America’s main long-term adversary, the Biden Administration’s plan was to split Russia away from China and then cripple China’s own military and economic...

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Sino-forming of Global South passes point of no return — David P. Goldman

Drawing out the implications of this article, the US strategy of isolating China and Russia is failing. They are economically dominant in the Global South, especially China. Moreover, the US and Europe are dependent on Chinese exports ("supply chains"). And as we are seeing with sanctions, the US and Europe and also dependent on  Russia for materials and also China to a lesser extent (rare earths).The bad news is that as this realization sets in, the remaining option to stem the tide of...

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Going “tactical” and “realist” — Andrei Martyanov (video 35.57)

[embedded content]Going "tactical" and "realist".Andrei Martyanov, former USSR naval officer and expert on Russian military and naval issues. Martyanov was born in Baku, USSR in 1963. He graduated from the Kirov Naval Red Banner Academy and served as an officer on the ships and staff position of Soviet Coast Guard through 1990. He took part in the events in the Caucasus which led to the collapse of the Soviet Union. In mid-1990s he moved to the United States where he currently works as...

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So entertaining watching the monetarists melt down.

Monetarists are losing it as the stock market rallies. And the rally is JUST GETTING GOING. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

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“Technical Recession” (Sigh) — Brian Romanchuk

I just got back from vacation, and was greeted by the United States’ 2022Q2 GDP release which hit the dreaded “two quarters of contraction” status. Some people have decided that this counts as a “technical recession,” although it is unclear where the adjective “technical” comes from.Since I am catching up with everything, I am unable to do a detailed analysis. If I do anything, I will postpone it until next week. I just want to add yet more words to the “is is a recession?” debate.My view is...

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Bill Mitchell — We should celebrate the ‘work from home’ phenomenon

My topic today is the issue of the ‘work from home’ phenomenon, which is one of the better things Covid has produced. I explain why. But I also realise a lot of commentators view the phenomenon negatively. Some on the Left allege it just means the ‘woke’ class have abandoned the low-paid workers to Covid, while those on the Right are aghast because they realise that, at least, some workers have more ‘control’ over their working lives. My view is that we should celebrate the fact that some...

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