Mike Norman Economics

Today, we have a guest blogger in the guise of Professor Scott Baum from Griffith University who has been one of my regular research colleagues over a long period of time. Today he is continuing his discussions around the uneven regional impacts of job losses since the start of the COVID-19 pandemic. So while I am tied up today it is over to Scott …Bill Mitchell – billy blogPlenty left behind in a national economy that the Government claims is ‘roaring back’Scott Baum, professor at Griffith...

Millions are about to lose their unemployment benefits. Fiscal flows could rapidly decelerate, upending stocks.

 MEXICO CITY - Mexican President Andres Manuel Lopez Obrador said Monday that the apparent funding by the United States of an anti-corruption group critical of his government amounted to "interference.""They have no reason to give money to these organizations. It's an interference in the public life of our country, and Mexico is an independent, free and sovereign nation," he told reporters.Lopez Obrador said on May 7 that he had asked the United States to confirm whether it had given $1.8...

Cold War 2.0 and arms race on track.We don’t need a weatherman to see which way the wind is blowin’ when it comes to the top three “existential threats” to the declining hegemon – Russia, China and Iran. What’s clear is that none of the good old methods deployed to maintain the subjugation of the vassals is working – at least when confronted by real sovereign powers....The Vineyard of the SakerIt’s a Nikolai Patrushev-Yang Jiechi worldPepe Escobar

It's complicated.Bond EconomicsInflation Monitoring CommentsBrian Romanchuk

Chinese media have reported that researchers working on a nuclear fusion project have succeeded in holding plasma of 120 million degrees Celsius for close to two minutes. Chinese daily Global Times reports that the so-called artificial sun as the Chinese nuclear fusion project is known also succeeded in maintaining plasma at 160 million degrees Celsius for 20 seconds. These times, while not very long in absolute terms, are records in the quest for nuclear fusion....Proof of concept. Now the...

There is still a bit more to learn about the Ryanair flight 4978 from Greece to Lithuania which on May 23 diverted to Minsk after a bomb thread against the plane had been received by several regional airports.The west has waged a media war over the case claiming that Belarus had invented the bomb threat to capture a Belorussian dissident who was on board. However it is clear that the bomb threat happened and that Belarus acted on it by the book. The quick implementation of a deceiving...

Everybody is concerned with ‘herd immunity’ at present as the pandemic continues on ravaging our social and economic lives. But I have been studying the concept of ‘herd mentality’ for some years, aka – Groupthink. Mainstream macroeconomics is sustained, not by any internal logical consistency (on which it fails), by close congruency with the empirical data (on which it fails), which are the usual qualities of a dominant system of ideas, but, rather, by (using modern terminology) its...

Daily Beast wrote and article with this title and they're right. I explain why. 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/

Whatever the final outcome may be, industry watchers now largely agree that there are two realms where costs must come down for carbon-free hydrogen to advance. The cost of renewable energy, already the object of remarkable reductions in the past decade, must continue to fall. And the cost of water electrolysis for hydrogen production, encompassing the basic hardware of green hydrogen, the electrolyser, must follow a similar path downward. Many see both poised to happen. In fact, the two are...