Mike Norman Economics

China may have to nationalize the company. No one else has pockets that deep. This appears to be much bigger than GM, which the US government deemed it had to nationalize at the time of the GFC. Nationalizing means taking the entity on the government books. In the end the US government came out ahead on paper with GM, not that it mattered for a currency sovereign. However, China is not fully sovereign in its currency since it pegs to the USD. (Technically, China doesn't peg to the USD at a...

Omarova represents a triple threat to the insidious behavior of mega banks on Wall Street: she has an in-depth knowledge of how they operate; she is not timid about explaining it to investigative bodies in the U.S. Senate; and, as head of the OCC, she would have a bully pulpit to speak to the American people directly about the urgency of reining in the systemic risks on Wall Street.Omarova has already demonstrated to Wall Street that it should not underestimate her. In 2013 and 2014, the...

What happens when you don't think things through.CounterpunchThe China Initiative, a Flawed and Dysfunctional PolicyMel Gurtov

China fires back.ECNSChina issues fact sheet on U.S. intervention in Hong Kong affairsCGTN (Chinese state media)AlsoECNSFact Sheet: US Interference in Hong Kong Affairs and Support for Anti-China, Destabilizing Forcesfmprc.gov.cnRelatedECNSChinese ambassador to U.S. expounds on China's whole-process democracyXinhua (Chinese state media)

Innovation!A consistent innovation policy, increased spending on education and science and the ability to translate all these into sound results are behind China's current role as a global innovation leader, a senior official from the World Intellectual Property Organization (WIPO) told Xinhua on Thursday.As per the WIPO's "Global Innovation Index (GII) 2021" released on Monday, China is still the only middle-income economy among the world's top 30 most innovative countries. It has...

OTT TV offers television or film contents that viewers access with a high-speed internet connection instead of cable or satellite TV subscriptions.ECNSChina has 955 mln over-the-top TV users: reportXinhua (Chinese state media)

 Boom! How many people get that cryto involves a sovereignty issue and that this is its reason for being.Zero HedgeChina Declares All Virtual Currency Transactions "Illegal", Sending Crypto Prices TumblingTyler DurdenSee alsoECNSChina to tighten regulation on virtual-currency trading, speculationXinhua (Chinese state media)

Here we go again. Someone should inform TIPS market participants about it. And, of course, perma-bear Peter Schiff is quoted.Zero Hedge"Hyperinflation" Tops List Of Fears For UBS ClientsTyler Durden

Like I said yesterday, constitutional crisis brewing. Read to the end. It is not just a constitutional crisis, but allegedly an ongoing attempted coup.As detailed in this edition, there were four distinct players or Trump staff who laid much of the groundwork leading up to January 6th. The House Committee has subpoenaed each person to testify. One has to wonder if they will resist and whether the House has a backbone and whether the courts will back the issued subpoenas issued.…Note that the...

The headline says it all. John Walsh gives the numbers. But, hey, USA. USA. USA. Daft.CounterpunchNY Times Advises China on Covid-19: Abandon Success, Try FailureJohn V. Walsh