Mike Norman Economics

In March 2021, the Bank of International Settlements published a paper that received far too little attention. The authors noticed that, relative to the size of the economic downturn, too few businesses were going bankrupt. They dug into why this was, and lo and behold they found that businesses were tapping into credit markets. They were borrowing to keep the lights on. Specifically, they found that the at-risk companies were in the "airline, hotels, restaurants and leisure sectors"—all...

Andrew Cuomo now… interesting analysis from HA Goodman… no doubt there is a trend here…[embedded content]

From Forbes:It Is Time To Pay Close Attention To The Lambda Variant Now Devastating South America https://t.co/zO2PHab0tD pic.twitter.com/rueEetWGr2— Forbes Science (@ForbesScience) August 10, 2021

Historic reserve additions to the banking system will eventually drive bond yields to zero or even negative. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman Mike Norman Economics: https://mikenormaneconomics.blogspot.com/

China has set out an outline on promoting the building of a rule of law government from 2021 to 2025, on the basis of the successful implementation of a previous 5-year plan.The document, jointly issued by the Central Committee of the Communist Party of China and the State Council, was made public Wednesday.Identifying promoting the rule of law for government as the main task in advancing law-based governance in all areas, the document highlighted the guiding philosophies, principles, and...

 Headwinds.Zero HedgeBrace For "Nasty" Debt Ceiling Fight As GOP Goes Full "Scorched Earth Mode" On DemocratsTyler Durden

Billionaire business owners deployed lobbyists to make sure Trump’s 2017 tax bill was tailored to their benefit. Confidential IRS records show the windfall that followed.…Corruption of the system or a corrupt system by design?ProPublicaSecret IRS Files Reveal How Much the Ultrawealthy Gained by Shaping Trump’s “Big, Beautiful Tax Cut”See alsoProMarket — The blog of the Stigler Center at the University of Chicago Booth School of BusinessTwitter is Now Obeying India’s New Internet Rules,...

In his book Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters, Steven Koonin explores misconceptions and shortcomings in the media’s presentation of climate science. The following excerpt takes a closer look at the projected economic impact of climate change....PromarketUnsettled: What is the Economic Impact of Climate Change?Steven Koonin | Professor of Information, Operations and Management Sciences, New York University Stern School of Business, Director of...

“Marxism teaches a legacy of socialism, not of gravediggers. The younger generations in China should be more socially responsible than their Western counterparts who grew up with values that emphasize individualism,” Yu Heping, a master’s degree student at the School of Marxism at China University of Political Science and Law, explained his decision to enroll on this program....MR OnlineMarxism resurges among young Chinese after CPC’s centenary proves a successGlobal Times by Hu Yuwei and...