Mike Norman Economics

The Vineyard of the SakerBRICS was created as a tool of attack: LulaPepe Escobar The Vineyard of the SakerNew World Order in Meltdown, But Russia Stronger Than EverJohn Hellevig | Awara Group Sputnik InternationalIndian GDP Growth Falls to Six-Year Low, Gov't Advisor Blames US-China Trade Tensions SouthfrontTrump Seeks To Use Chinese Imperial Debt Bonds to Pressure Beijing In Trade War: Bloomberg Sputnik InternationalBolton Excluded From Afghan Policy Decisions After Irritating Trump -...

Dollar hits 2-year high.

Like the twentieth-century Cold War between the United States and the Soviet Union, the new rivalry between China and the West is a contest between fundamentally incompatible political systems. And the idea that freedom and democracy will prevail can no longer be taken for granted.… While this is an interesting read, I don't think he frames it quite right. Alexander Dugin has pointed out that there are three modern political theories, liberalism, communism, and fascism, and one ancient one,...

Historically, and especially in the United States in the early part of the 20th century, monopoly power was rightly viewed as a serious threat to the economy and to society, and steps were taken to break up monopolies. It was President Franklin Roosevelt who famously said that “government by organized money is just as dangerous as government by organized mob.” However, in recent decades, neoliberal economics has led a much more benign view of monopoly power, and very little action is now...

This is not your typical gold buggy "argument" against MMT although it is pro-gold standard. Jeffrey Snider goes through the history and lays out a case. It is worth a read.  Edison was exactly right about the nature of gold as money. Everything boils down to who gets to control it. If you believe as Edison and Ford the government can be and most often is a force for good, then monetary restraint is a barbarous evil. But what if the government is populated, always, by bumbling...

Users of Twitter know the thrill of seeing a tweet so good that you want to have it embroidered on pillows. The form lends itself to aphorisms or clever asides; Oscar Wilde and Dorothy Parker would have loved it. This week, the economist Stephanie Kelton posted a tweet for the ages: “What is the natural rate of college enrollment?” It’s slyly great. It’s a play on the “natural rate of unemployment,” a discredited concept popular in the 90’’s. The NAIRU was supposed to represent the...

Valdai AnalyticsPrelude to a Conflict: The Psychology of Modern WarfareSputnik InternationalLeaked UN Climate Report Forecasts Rising Oceans, Superstorms, Mass Displacement Internationalist 360ºPresident Evo Morales Joins Firefighters to Battle Wildfires in Bolivia The GrayzoneWestern regime change operatives launch campaign to blame Bolivia’s Evo Morales for the Amazon fires Wyatt Reed Zero Hedge"People Will Be Shocked" - Bannon On Huawei & The Communist China ThreatTyler Durden...

Market rises over time.

As a preliminary exercise, it may be instructive to modify the familiar Keynesian cross diagram to include the effects of a job guarantee within a simple short-run framework. The diagram includes two key schedules. The first is a 45-degree line showing all points for which actual expenditure equals actual income. The second is a line with lesser slope depicting the level of planned expenditure (total demand) at each level of income. Under appropriate conditions, the two schedules intersect...

Ellen Brown summarizes Michael Hudson 's ..and forgive them their debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year (THE TYRANNY OF DEBT Book 1). TruthdigThe Key to a Sustainable Economy Is 5,000 Years Old Ellen Brown