Mike Norman Economics

Says it was an “operational problem”... ie not a technical problem.....  Nobody wants to receive reserve assets?  Hmmmmmmm...  The Fed's system that allows banks to send money back and forth went down for several hours https://t.co/KNFxH0Uh6n— Jeff Cox (@JeffCoxCNBCcom) February 24, 2021 $70B reserves to depositories yesterday:Perhaps destabilization starting.... 

MintPress NewsWhat Planet Is NATO Living On?Medea BenjaminGeopolitika“We want a regime change in Russia”Maurizio BlondetSouthFront Putin: Enemies Want To Put Russia Under External Control, But They Will FailTASSPutin says Russia thwarted the activity of hundreds of foreign agents nationwideSputnik InternationalPutin: Information Campaign Exists Abroad to Undermine Russia's Achievements in MedicineThe GrayzoneReuters, BBC, and Bellingcat Participated in Covert UK Foreign Office-funded...

 Scientists at the Children's Medical Center Research Institute at UT Southwestern (CRI) have identified the specialized environment, known as a niche, in the bone marrow where new bone and immune cells are produced. The study, published in Nature, also shows that movement-induced stimulation is required for the maintenance of this niche, as well as the bone and immune-forming cells that it contains. Together, these findings identify a new way that exercise strengthens bones and immune...

While Hong Kong has been an outlier when it comes to taxing stock transactions, with major markets such as the U.S. and regional rival Singapore refraining, HK's action may prompt more politicians into acting to transfer some capital from the financial sector to the people. Indeed, talk of implementing a tax on financial transactions has recently been rekindled by some Democrats in the U.S. after the recent trading frenzy in GameStop Corp. shares.Zero HedgeHong Kong Market Tumbles After...

The economic and military pressure on China and Russia is leading to a military alliance and technology sharing. "Competition." Exactly the result anticipated and looked forward to by the military-industrial complex that feeds off hostility.NikkeiUS And Allies To Build ‘China-free’ Tech Supply ChainTaisei Hoyama and Yu Nakamura, Nikkei staff writersSee alsoWith his plan to build a concert of democracies to contain China, US President Joe Biden is making a grave mistake. The US and China...

Nothing new but it's worth restating from time to time. Ergodicity for one thing, simplicity for another.There is something truly odd about any economist who lives wholly in the world of equilibrium. Truly odd. Just think of what they have to assume to get thereThe Radford Free PressSameness is Just WrongPeter RadfordRelatedLars P. Syll’s BlogThe leap of generalizationLars P. Syll | Professor, Malmo University

 Michael Hudson interview with transcript.Naked CapitalismMichael Hudson Discusses the Economic Winds of [Non] Change Under Biden on Radical ImaginationYves Smith

My Wednesday blog post with a few snippets. Don’t forget to enrol in our MOOC which begins next week. Also, some news from Britain that shows once again the British Labour Party has the gun aimed straight at its foot. And some comments on yesterday’s Australian government decision to increase the unemployment benefit by $25 per week and claiming this was appropriate – when it still means the recipients are $163 per week below the accepted poverty line. Enforced poverty by a government that...

We are likely to need National Savings annuities, where an individual can build up an annual additional pension by purchasing ‘Granny Bonds’ directly. They would have limited residual capital value and no capital uplift, but they would give a secure additional income in retirement for ordinary people who decide to be thrifty and save. The precise level and nature of the instruments is open to debate....Lots of other interesting MMT-related stuff.New WaylandThe Only Bonds We Need Are Granny...