Mike Norman Economics

“Banks flush with reserves to lend out!”... (LOL nothing has changed)...Lenders are flush with cash they want to put to use, and banks hope loan growth will pick up in 2021 https://t.co/aACHmAflYC— Real Time Economics (@WSJecon) March 4, 2021

 Jack Ma got brought in for a pep talk, because his new financial scheme could have harmed the Chinese economy if it loaded it with too much private debt.Jamil Anderlini, of the FT, wrote this article below, but he doesn't understand the context and thinks it's just big bad government, the CPC. But why should wealthy individuals be allowed to wreck our economies and societies for private gain?Libertarian freedom is everyone else's enslavement. Jack Ma personifies the contradiction of China’s...

See this Report from the Corporate Europe Observatory (February 2, 2021) – Vaccine scarcity: how the EU’s appeasement of Big Pharma damages COVID-19 response.They sought information through FOI processes from the European Commission, which they documented in this report – Power and profit during a pandemic – why the pharmaceutical industry needs more scrutiny not less (September 21, 2020).They concluded then that:In a pandemic the pharmaceutical industry is hailed as a saviour; yet the...

I'm not worried about rising bond yields. It's a technical thing and it won't disrupt the market. 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

This [US electrical grid] is one massive system, and the sources that feed it electricity have become increasingly diversified. And while the shortage of natural gas was a big reason for the power outages in Texas, it was certainly not a shortage of gas that caused the blackouts in California last summer during a heatwave. Grid reliability has come to the fore because the decarbonization of electricity generation is not all fun, games, and zero-emission power.The U.S. grid, as it is now,...

Big Pharma is fighting for tight control over Covid-19 vaccine production, limiting availability worldwide while reaping billions. The InterceptDrug Lobby Asks Biden to Punish Foreign Countries Pushing for Low-Cost VaccinesLee FangSee alsoJacobinFinland Had a Patent-Free COVID-19 Vaccine Nine Months Ago — But Still Went With Big PharmaIlari Kaila and Joona-Hermanni MäkinenAlsoKHNThey [Oxford University] Pledged to Donate Rights to Their COVID Vaccine, Then Sold Them to PharmaJay Hancock

Catching up.Conversable EconomistTeaching Current Monetary PolicyTimothy Taylor | Managing editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, Minnesota

 The US is now deeply divided ideologically, which implies socially and politically also, since the two halves of the population see the world entirely differently, giving rise to "alternative facts."The upshot of this condition is the necessity of one side controlling the narrative to capture the middle, which constitutes the swing votes.A foundational issue at present is the legitimacy of the government. This post is about that and it outlines the conservative stance for the 2020...

... economists seem to be undeterred by these new understandings brought to physics or even by the blow brought to Newton’s mechanics by 20th-century quantum physics and Einstein’s relativity. They continue to stick to classical mechanics as if nothing had changed in the way physician understand the physical world. Nor are they bothered by the way other social and political sciences came to understand the social world; or how in neurosciences and psychology, the understanding of the working...