Mike Norman Economics

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...

Another side of the story. JacobinChina Is Not the Enemy — Neoliberalism Is Isabella Weber, Hao Qi, and Zhongjin LiSee alsoThe Diplomat is usually pretty US and Western-centric in its viewpoint. However, the unique American and geographically delimited Western liberal views are foundationally different from other views, such as the Chinese and other Asian, Islamic, etc. Viewing one predominantly of exclusively through the lens of another skews the analysis away from objectivity.This article...

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