Mike Norman Economics

Used cars up 50% ... bank stocks up 5%.... could have made more just buying used cars... A LOT more...When are you leftists going to start complaining about the “carsters!”?   Better call Pocahontas...Banks in the toilet getting crushed by their regulators... meanwhile used cars doing a moonshot and  incompetent left still complaining about those shrewd and crafty “banksters!” ...  hard to understand...Continued parabolic spike in used car prices … @Manheim_US Used Vehicle Value Index rose...

Musk says it was a test... not a trade... probably true as this is how competent technical people operate...No, you do not. I have not sold any of my Bitcoin. Tesla sold 10% of its holdings essentially to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.— Elon Musk (@elonmusk) April 26, 2021

I'm watching one broad aspect of the fiscal picture for warning signs. 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

Econ 101 assumes a lot of things — from the existence of a market and a medium of exchange, to being in an approximately stable macroeconomy that's near equilibrium, to the rates of change of supply and demand in response to each other, to simply the existence of a large number of agents.This is usually fine — introductory physics classes often assume you're in a gravitational field, near thermodynamic equilibrium, or even a small cosmological constant such that condensed states of matter...

The domestic slave trade was no sideshow in our history, and slave traders were not bit players on the stage. On the contrary, the trade and its operators were pervasive in American life before the Civil War. They played vital roles in shaping the demographic, political, and economic contours of a growing nation, and we ought not fool ourselves into thinking we have left that past behind. In truth, we still live in the world that Franklin and Armfield’s profits helped build, and with the...

A leading National Institutes of Health scientist who helped develop a key technology used in Pfizer and Moderna's coronavirus vaccines said this week that the U.S. government's ownership of the patent for the invention gives the Biden administration significant leverage to compel pharmaceutical companies to help boost global production.Dr. Barney Graham, deputy director of the NIH's Vaccine Research Center, told the Financial Times in an interview this week that "virtually everything that...

With short video. ECNS100% automation: Robots rule lines at China's largest SUV production baseAlso at ECNSCASS: China's economy projected to grow at 8% in 2021China to kick off nationwide consumption campaign

And how this happened so quickly.We learned that the secret to Xiaomi’s growth lies in what we term as “strategic coalescence.”...Harvard Business ReviewHow Xiaomi Became an Internet-of-Things PowerhouseHaiyang Yang is an associate professor at the Johns Hopkins Carey Business School, Johns Hopkins University, Jingjing Ma is an assistant professor at the National School of Development, Peking University, and Amitava Chattopadhyay is the GlaxoSmithKline Chaired Professor of Corporate...

The critique of PK from the Marxian POV includes MMT. Profit and profit rate v. income-expenditure model of macro.Michael Roberts Blog — blogging from a marxist economistPost-Keynesianism: the principlesMichael Roberts

Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh and Mindy Xiaolan have a working paper "What Determines the Government’s Funding Costs when r=g?: Unpleasant Fiscal Asset Pricing Arithmetic." They argue that the "fiscal cost" of deficits is not expected to be driven by the gap between the "risk free rate" and GDP growth (the famous r-g equation). Their target is something or other Olivier Blanchard wrote. In a completely non-surprising development, I am not happy with their logic….Bond...