Mike Norman Economics

The Trump administration’s pursuit of protectionist trade policies was predicated to some extent on the belief that America was too lucrative a market to face retaliation. Using the most detailed data set of bilateral trade flows constructed to date for the interwar period, this column shows that in fact the US faced substantial and widespread retaliation from trade partners in response to protectionist measures employed in the wake of the Great Depression. Exports to retaliating countries...

MMT explainer.In These TimesLies, Damn Lies, and InflationHamilton Nolan

The Bank of Russia does not see the risks of disconnecting the country from interbank payment system SWIFT, but if such a scenario is implemented, it will be possible to transfer internal Russian traffic to the Financial Messaging System of the Bank of Russia (SPFS), the bank's first deputy governor, Olga Skorobogatova, said.Cold War 2.0 Watch.Sputnik InternationalRussian Central Bank Sees No Risks of Disconnecting Russia From SWIFT

This is one indirect way the GSIBs benefit if the equity prices are reduced to their Fed mandated -55% hedge level... wipes out the ankle biting competitors ...Credit Suisse is experiencing an exodus of bankers following its $5.5 billion hit from Archegos https://t.co/oGEfo2CDgr— WSJ Markets (@WSJmarkets) May 18, 2021

Never... going... to... happen... keep... dreaming...With unified control of Washington, Democrats should take the opportunity to get rid of the debt ceiling once and for all, @fordm writes. https://t.co/ugaNqNQDop newrepublic— Dr. Joseph Frusci (@JFrusci) May 17, 2021

 Can you imagine how rich those at the very top are? I bet you can't! Wealth shown to scale

Some strong words from John Oliver. [embedded content]

My plan is to create a version of what I call the Monetary Monopoly Model -- a core Modern Monetary Theory model I describe in my latest book -- Modern Monetary Theory and the Recovery. The planned model will demonstrate the operation of a Job Guarantee in an economy that consists of two regions that share a currency....Bond Economics Status Update On My Agent-Based Model DabblingBrian Romanchuk

 The health and wellness industry is a multi-billion euro operation, but some areas such as supplements are unregulatedRegulation will shoot the price right up, but if you are buying rubbish, not only is it expensive (you're paying a lot for the small amount you do get), it's not doing much anyway. There are good brands out there, but the European ones tend to be expensive, although over years a top quality American brand has become very competitive. Over 20 years of research, Professor...

Continues today with over-apprehension of children, lack of police protection, report saysIt was an "inescapable conclusion" that genocide was committed against Canada's Indigenous peoples, said Marion Buller, the chief commissioner for the National Inquiry into Murdered and Missing Indigenous Women and Girls, during a Monday news conference.That conclusion has been reverberating across the country since news first surfaced on Friday that the inquiry had determined that thousands of those...