Mike Norman Economics

US Capitol protest catching?Sputnik InternationalIndia Stunned as Protesters Hoist Their Flag at Iconic Red FortViolence, Death & Invasion of Delhi: Here's How the 72nd Republic Day Unfolded in India’s Capital

More shoes dropping.The probe by the Office of the Inspector General of the US Department of Justice comes in light of a report that Trump had planned to fire his acting attorney general and launch an electoral fraud investigation to pressure Georgia State officials….Peoples Dispatch US federal agency launches probe into alleged bid by Trump to undermine election results

Building national self-sufficiency for the dragon to escape the eagles talons (economic sanctions) without the need to breath fire (go to war).Semiconductor technology. China produces 7% and consumes 33% of global production. Given the level of its consumption, it is worth investing heavily in developing self-sufficiency.Sputnik InternationalThe Task: China Must Rally 'Whole Country' to Defeat US 'Technology Blockade', Top CCP Official Says

Some interesting politics here: extremism is the problem. And I never thought of religion as a powerful way of cementing a group. It's tribal. [embedded content]

Yanis Varoufakis is on to something here, but he could not do it justice in 500 words. But the BS factor in political persuasion is worth thinking about, and it's not just conspiracy theory and gaslighting. Pseudoscience also plays a role in it, particularly in economics as a policy science. Project SyndicateTruth After TrumpYanis Varoufakis

Marx and many of his less radical contemporary reformers saw the historical role of industrial capitalism as being to clear away the legacy of feudalism – the landlords, bankers and monopolists extracting economic rent without producing real value. But that reform movement failed. Today, the Finance, Insurance and Real Estate (FIRE) sector has regained control of government, creating neo-rentier economies.The aim of this post-industrial finance capitalism is the oppositeof that of industrial...

There was an article in The Lancet from its editor (September 26, 2020) – Offline: COVID-19 is not a pandemic – which questioned the “narrow approach” that governments were taking to the coronavirus pandemic based on the assumption that “the cause of this crisis … [is] … an infectious disease”. His argument is a whole of medical professionals have become prominent in daily press briefings and the like as they trot out the results of epidemic models and news agencies interview “infectious...

Short selling is a wasteful and useless economic activity akin to gambling. You should avoid it. Trade and invest using the concepts of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/ Download my podcasts! New one every week. https://www.buzzsprout.com/1105286 Mike Norman Twitter https://twitter.com/mikenorman

Industry observers said that these plans by China's first-tier cities send a clear signal that DCEP will be subject to large-scale testing this year against the backdrop of a global race, which will lay a solid foundation for its launch in the near future."The pilot testing is only the first step of a 'long march.' Once launched, the digital yuan will reshape China's financial industry and unleash a promising digital finance service sector worth billions of yuan," a Shenzhen-based veteran...

The U.N. Conference on Trade and Development (UNCTAD) concluded that China became the largest FDI receiver last year over the U.S., with flows increasing by 4 percent to $163 billion, Bloomberg News reported. Most countries saw decreases due to the coronavirus pandemic, including the U.S., which saw its flow drop by 49 percent to $134 billion, according to UNCTAD’s Investment Trends Monitor. The U.S.’s decrease was seen in wholesale trade, financial services and manufacturing....The HillUN...