Mike Norman Economics

If you have time, Tony Gosling is always an excellent listen (podcast). He says neither the U.S. or Iran want a war, but America's dangerous belligerence could cause one.Trump is probably bluffing, hoping to negotiate the best deal with the Iranians, which he thinks would help him win the 2020 Presidential election.Not mentioned here, but a G.W. Bush military advisor says Trump is taking an idiotic and crazy risk with this bluff.  He was alarmed, and said that with this degree of tension...

You knew about this already, but Pepe Escobar fills in some detail.Asia TimesSay hello to the Russia-China operating systemPepe EscobarSee alsoKasperskyOS — An immune-based approach to information system security

Go rogue much? “Two administration officials said they believed Mr. Trump had not been briefed in any detail about the steps to place ‘implants’ — software code that can be used for surveillance or attack — inside the Russian grid. “Pentagon and intelligence officials described broad hesitation to go into detail with Mr. Trump about operations against Russia for concern over his reaction — and the possibility that he might countermand it or discuss it with foreign officials, as he did in...

Trump's negotiating strategy with Iran is not working as planned. Instead of being forced into submission by sanctions, Iran has concluded that it is in its interest to go to war if need be rather than to submitt. Since this would driving the price of oil up to level that would threaten the collapse of the global economy, Iran appears to be gaming the risk of war on the assumption that POTUS would not be willing to go there.Trump often resorts to the "crazy person" tactic in negotiation....

Chinese Vice President Wang Qishan called on Russia to strengthen financial cooperation between the two states by increasing the use of national currencies in bilateral trade. The Chinese politician’s statements are in line with an offer by Russian President Vladimir Putin that suggested that both China and Mongolia join the Russian Central Bank’s financial messaging system and increase the use of national currencies in mutual trade. The president stressed that many countries, specifically...

I would add to government accumulation the likelihood that as incomes rise in the East there will also be increased demand from households. There already is.  In the West, physical gold is mostly bling, with much of the saving in gold held largely in derivates as financial saving. And, as Jesse observes, the "paper gold" — "digital gold" really — is an issue owing to hypothecation and re-hypothecation. In the East physical gold doubles as ornament and real saving. In addition, in...

From the American Conservative: Lindsey Graham repeats his reckless demand for invading Venezuela, and his latest reason for doing it is even more ridiculous and ugly than before: “We need points on the board. Start with your own backyard. Tell Cuba if you are not out of Venezuela, in a week, and people are starving and dying in Venezuela because Maduro is such a thug, then we are making a mistake. Fix Venezuela and everybody else will know you are serious.” Invading Venezuela...

Pedro Baños is a colonel in the Spanish Army who was formerly the Chief of Counter-Intelligence and Security for the European Army Corps. He is one of Europe’s top specialists in geopolitics, terrorism and intelligence Pedro Banõs book has been described as antisemitic because of the cover and because three sentences in the book spoke about the Rothschild's fortune and their enormous power. Penguin have defended the book saying it is not antisemitic, and that the octopus symbol, which...

This new is a few days old now, but this is short and to the point. So much for democracy!Pompeo says Venezuela has a choice between being democracy or a dictatorship, and if the choice is the latter the U.S will intervene.Peoples Dispatch looks into the recent exposé published by The Intercept which reveals the bias and political motivation of the Brazilian judiciary during the prosecution of former president Luiz Inácio Lula da Silva. The prosecution team of Operation Car Wash had close...

90% of the Chinese are home owners, says Ellen Brown, and by the time they are 35 years old most own their own homes. Okay, they are smaller and not as well built, but Chinese debt is a lot lower as the government subsidizes health care, education, transport, and its industries. The Chinese have lower wages but their cost of living is a lot less.Bannon says these subsidies are unfair, and that the Chinese use their vast army of slaves to economically take over the world. A trade war is not...