Mike Norman Economics

The Council “welcomes the outcomes of the visit conducted by the General Secretariat’s delegation upon invitation from the People’s Republic of China; commends the efforts of the People’s Republic of China in providing care to its Muslim citizens; and looks forward to further cooperation between the OIC and the People’s Republic of China,” the resolution read. The OIC has 57 member states, and aims to provide “the collective voice of the Muslim world.” Its Council of Foreign Ministers...

More importantly, the trend at the NATO foreign ministers’ meeting at Brussels on November 19-20, in the run-up to the London summit, showed that despite growing differences within the alliance, member states closed ranks around three priority items in the US global agenda — escalation of the aggressive policy toward Russia, militarisation of space and countering China’s rise.... The only sure way to ensure permanent US hegemony is to break Russia and China into smaller countries that can...

Economic imagery pervades societal discourse. Part of this imagery projects markets as existing everywhere; the common societal parlance sees talk of the car market, the grocery market, the computer market, or, simply, the market. Yet, excepting traditional marketplaces or medinas, these markets have no physical manifestation. Unlike with other major social institutions there is no where to visit; there is no headquarters. Instead, markets are said to exist when there are competitors in...

This article is an edited draft of the introductory section of my book. I filled it in last, on the theory that I should only state what is in the text after the rest of it is finished. I am giving the manuscript a short look-over before passing along to editing. Realistically, the earliest publication date will be in early January. The text is longer than my previous works, at around 60,000 words. Has quite a few figures depicting historical data and simulation results (haven't counted,...

Teeing up some new ass to kick closer to home...  maybe Brazil can go north and we can go south... meet in the middle somewhere...Donald Trump says the U.S. will designate Mexican drug cartels as terrorist groups https://t.co/gAfDwThpQc— Bloomberg (@business) November 27, 2019

Greece up big this year... continued benefit from the fiscal transfers thru the ESCB...The world's best performing stock market is... #Greece. Up 42% so far this year. But how much of the Greek people have actually benefited from it? pic.twitter.com/LJQPpRusu5— jeroen blokland (@jsblokland) November 13, 2019

With ECB asset purchases resuming, DB now having to liquidate risk assets to increase non-risk to maintain regulatory compliance... not good...Deutsche Bank recently sold securities tied to EM debt with a notional value of about £40 billion to Goldman Sachs: https://t.co/b7x8Woug7Y via @markets— Paul Dobson (@paul_dobson) November 27, 2019

Australia not wanting to be left out of the "pumping!" party... Not good:AUD drops as news of QE expected from the RBA hits https://t.co/FsO8NVoDDr— ForexLive (@ForexLive) November 27, 2019

It is Wednesday, so only some snippets, although as it turns out the blog post is quite long. I am also travelling a lot today. I have recently come across the complete archive of the PKT Discussion List, which was an E-mail listserv in the early 1990s that brought Warren Mosler, Randy Wray and myself together. In this blog post, I provide some of the interchanges that formed the basis of our subsequent partnership in developing MMT to where it is today. The discussion below is incomplete...

The Vineyard of the SakerIran’s ‘only crime is we decided not to fold’The road toward Greater Eurasia Pepe Escobar Zero HedgeChina Slams Ted Cruz's "Bare Provocation" In Taiwan Act, Threatens Disastrous War Tyler DurdenMoon of AlabamaThe House Will Not Vote On Impeachment. It Will Censure Trump. Activist PostIndependent Study Confirms: Americans Are Paying For The Trade War, NOT The Chinese Mac Slavo