Mike Norman Economics

In 1989, the top 1% owned 4.81 % of household wealth and the bottom 50% held 0.76%. In Q3 2020 (latest), the top 1% owned 36.18% and the bottom 50% owned 2.36%The middle is shrinking relatively to the top. The bottom 50% is "doing much better." (snark)Federal Reserve Board of GovernorsDistributional Financial Accounts Distribution of Household Wealth in the U.S. since 1989See alsoStrategic Culture FoundationAmerica’s Richest 1% Owned 5% in 1990, Own 36% TodayEric Zuesse

Fact-check opinion pieces? No time, no resources, no problem.And this is the US "paper of record"?Statistical Modeling, Causal Inference, and Social ScienceNYT editor described columnists as ““people who are paid to have very, very strong convictions, and to believe that they’re right.”Andrew Gelman | Professor of Statistics and Political Science and Director of the Applied Statistics Center, Columbia University

Signs of the times. India has had women leaders previously (Indira Gandhi), but this combines age and gender dramatically. Even though she was too young to vote in previous elections, she has been a longtime activist.NDTV (India)21-Year-Old [Female] College Student Elected Mayor Of Kerala CapitalReported by Sneha Mary Koshy, Edited by Arun Nair

It’s Wednesday and I usually try to write less blog material. But given the holiday on Monday and a couple of interesting developments, I thought I would write a bit more today. And after that, you still get some great piano playing to make wading through central bank discussions worth while. The Financial Times article (January 4, 2021) – Investors believe BoE’s QE programme is designed to finance UK deficit – is interesting because it provides one more piece of evidence that exposes the...

A volunteer who signed up for Moderna’s coronavirus vaccine trial was struck by lightning 28 days after receiving the injection. That 72 year-old volunteer, whose name and gender have been withheld, met with the freak accident after getting an actual shot of Moderna’s vaccine, rather than the placedo, during the second phase of the vaccine’s trials.Covid vaccine volunteer, 72, struck by lightningp.twitter

Here's what will happen to the markets in the two scenarios. 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

Moon of AlabamaU.S. Foreign Policy Blob Knows The Real Threat From China - Has Ideas Of How To Defeat ItDefend Democracy PressUkrainian nationalists and neo-Nazis stage torchlight march in Kiev to mark Nazi collaborator’s birthday RT‘Without fear of death’: Xi Jinping orders Chinese army to be ready to fight ‘at any second’SputnikChina's DF-17 Hypersonic Missile Seen to Get Stealth Upgrade, Reports ShowSouthFrontRussia To Place 13 Yars ICBMs And Avangard Hypersonic Systems On Combat Duty In...

For the record.SpearsHow Modern Monetary Theory gained currencyArun Kakar

According to this report, the CIA neutralised the left in a France, eventually pushing it towards neoliberalism. Then, when neoliberalism became discredited, France shifted further towards populism and the Right. Even theoreticians who were not as opposed to Marxism as these intellectual reactionaries have made a significant contribution to an environment of disillusionment with transformative egalitarianism, detachment from social mobilization and “critical inquiry” devoid of radical...

Watch now the Art Degree people are going to synthesize their NAIRU Theory with their Woke Theory and come up with the “Non Accelerating Inflation Rate of Unwokeness”....  lock it...Union organizers demand additional wokeness from Google. So far, I love 2021. https://t.co/JdVLv0ltWs— Scott Adams (@ScottAdamsSays) January 4, 2021