Mike Norman Economics

Its Wednesday and just a few items today. I have a fair number of commitments today and some writing deadlines. But I thought a brief comment on a Financial Times article last week (April 30, 2021) highlights how paradigm shift creates wedges in those devoted to the degenerative paradigm. Some embrace change more than others. Some hang on to any thread to maintain their credibility. We might write something about Modern Monetary Theory (MMT) and power tomorrow. That should appeal,...

Powell (Trump appointee) more progressive than monetarist Yellen or Biden ... While 22% of parents either stopped working or worked less in 2020 because of the Covid-19 pandemic’s disruptions, that figure jumps to 36% and 30% for Black and Hispanic mothers, respectively, Federal Reserve Chairman Jerome Powell said Monday. https://t.co/ewUE6ihuyP— Real Time Economics (@WSJecon) May 5, 2021

Hey really nice depository system you got there where Depositories can’t accept any deposits you f-ing morons...The pushing out of costly deposits is happening now. This post explains why - https://t.co/s2DJ0D5Bdw https://t.co/oIhxyAf1WY— FedGuy (@FedGuy12) May 4, 2021

Today, out of nowhere, Janet Yellen the Treasury Secretary, says interest rates probably have to go higher. NOT HER JOB! 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

More Cold War 2.0 stuff. Blocs forming again.The European Commission has said that efforts to ratify a massive investment deal with China have been in effect suspended after tit-for-tat sanctions were imposed over China’s treatment of its Uyghur population in March.“We now in a sense have suspended … political outreach activities from the European Commission side,” said the commission’s executive vice-president, Valdis Dombrovskis, on Tuesday. He said that the current state of relations...

Dances with Bears THE NEW NAVALNY INDICTMENT – WHY ARTICLE 239 PROSECUTION IS WORSE FOR THE ANGLO-AMERICAN REGIME-CHANGE OPERATION THAN ARTICLE 275 (TREASON)John HelmerIntel Today ("an act of war")BREAKING NEWS — Havana Syndrome — White House Official Confirms Microwave Attacks [UPDATE — Former Pentagon Chief: “It’s an Act of War!” // Press Review]Ludwig De BraeckeleerReminiscence of the FutureShips Are Just Platforms.Andrei MartyanovRussia ObserverRUSSIA, RUSSIA, EVER FAILINGPatrick...

WWIII Watch....Russia has warned that, if implemented, disconnecting its businesses from SWIFT would be seen as an "act of war,"...Speaking at a meeting with his Chinese counterpart last month, Foreign Minister Sergey Lavrov said, "The United States has declared its mission is to limit the technological development opportunities of both the Russian Federation and the People's Republic of China." He added that the dollar should be de-prioritized as the default currency of international...

The fact that core inflation is rising on the back of substantial GDP growth and declining unemployment should not come as a surprise. Those who are wringing their hands about economic "overheating" should remember that an absence of price increases would reflect an economy that is still struggling.Project SyndicateIs the US Economy Recovering or Overheating?J. Bradford DeLong | Professor of Economics, UCAL Berkeley

US Iran hawks argue that Donald Trump’s re-imposition of sanctions in 2018 has given his successor, Joe Biden, leverage in the new round of negotiations over restarting the 2015 nuclear deal. In fact, Trump's approach discredited and sidelined the Iranian moderates needed to secure a new agreement.…Did sanctions backfire? We'll know if Iran's hardliners win the coming election in Iran, which now seems baked in.It doesn't seem that there is room to reach an agreement before the election...

One in five women in China said last year that they regret getting marriedConcerns about domestic violence, household responsibilities and unequal public policies fuel their doubts about marriageWhy is this important economically? It is about a shifting informal economy as women wake up to unpaid work.  It is not only individual but also cultural and institutional. The revolution supposedly liberated women and it did to a great extent in that education and occupational opportunities greatly...