Mike Norman Economics

Assistant Secretary of Defense John Plumb knew better when characterizing Russia-China reactor cooperation as a nuclear weapon threat...What's up then? Demonizing Russia and China? Probably, but there is more to milk from the story.The disinformation about China’s fast breeders offered by the Pentagon and others misses the key point: China and Russia are poised to dominate the world’s entire nuclear power sector, while the US and other Western countries have for decades been downsizing and...

 The Collapse of Antiquity is Michael Hudson's new book.Video and transcript.Naked CapitalismDanny Haiphong and Michael Hudson Discuss The Collapse of Antiquity, the Bank Panic,

Some Canadian conservatives were predictably angry last week when the Federal Liberal government highlighted Canada’s relatively low net debt. They want to instead focus on the gross debt, which moved in a different direction. (The figure above shows the gross and net financial liabilities of the “general government” — includes provincial governments. Canadian provincial governments have a big economic footprint, and in order for the debt figures to be comparable to international peers, you...

I was at the optometrist the other day getting my regular eye test and all the person doing the test wanted to talk about was whether we were heading into recession. I think he was toying with buying a new apartment to live in and was trying to assess risk with the rising interest rate regime and all the negative talk. I actually don’t like giving that sort of advice to people I am dealing with in that sort of relationship. But it is a good question – and there is evidence either way. First,...

The USD as a "nuclear" weapon. It is the preferred weapon in that it leaves everything intact while submitting the recalcitrants to US-elites will. But, ironically, use of the weapon weakens the weapon as other countries develop counters to it, such as alternative payments systems and import substitution that build selfsufficiency.CaitlinJohnstone.comMarco Rubio Accidentally Makes A Great Argument Against US Dollar HegemonyCaitlin Johnstone

Public AffairsThe Deficit Myth by Stephanie Kelton available as ebook for $3.99.

 Professor Zhang Yuyan, Member of the Chinese Academy of Social Sciences and Senior Fellow of the Institute of World Economics and Politics, said in a W.E. Talk exclusive interview with China News Service, that Kindleberger’s research in essence is about the old “Collective Action Problem” in economics. To avoid the “Kindleberger Trap”, the international community not only needs to solve the “Collective Action Problem” by institutional reforms and innovations for a just and reasonable...

 Some interesting items.Real-World Economics Review Blognew issue of Real-World Economics Review

A new Wall Street Journal-NORC poll reveals that a majority of Americans believe a college degree isn't worth the cost and time. Sliding confidence in the higher education system indicates that the American Dream can be achieved without a college degree.If this represents a developing trend, it potentially presages cultural and institutional realignment. Zero HedgeSliding Confidence: Majority Of Americans Question The Value Of CollegeTyler Durden

 This is not the Onion. Looks like the military is afraid that the civilians have lost their marbles (they have) in promoting the MICIMATT (Military-Industrial-Congressional-Intelligence-Media-Academia-Think-Tank complex).Defense One[Chairman of the US Joint Chiefs of Staff Gen. Mark] Milley: Don’t Invade Mexico Kevin Baron, Executive Editor of Defense OneSee also at Defense One‘Lower the Rhetoric’ on China, Says Milley