Mike Norman Economics

It gets even better. Fox forced to eat crow to avoid defamation suit.In other news, the pendulum is swinging way far to the crazy. Gives new meaning to "conspiracy theory." Too political to post here. But it a thing now, and the trend is significant in that it suggests that the US has progressed past being a banana republic to being a cognitive-affective basket case (that is armed to the teeth). What could go wrong? I hope that if you live in the US and still have a few good years left, you...

[embedded content]An interesting reply Since the new frequencies are not ionizing and cannot penetrate deeply (a few mm at most) into the body, one must presumably concentrate on thermal effects. Far higher frequencies like infrared and light reach our skin in powers of 1-2kW/m², at noon in summer or close to a big campfire. This is what we perceive as "nice and warm". There is no way the small 5G radio cells will even come close to such energy densities. So I tend not to see any danger in...

Can't make this stuff up.  After several days of progress toward a final coronavirus relief deal, the Senate GOP's last-minute attempt to insert language curbing the Federal Reserve's emergency lending powers is threatening to derail negotiations over a package that would extend soon-to-expire unemployment benefits, send another round of direct payments to many Americans, and provide funding for vaccine distribution.Pushed by Sen. Pat Toomey (R-Pa.) with the backing of Senate Majority Leader...

 Looks like that threat of suit we linked to previously paid off.Crooks and LiarsUnder Threat Of Lawsuit, Dobbs Suddenly Fact Checks His Voting Conspiracy TheoriesEllenSee alsoCREW (7 Dec 2020)Peter Navarro referred for disciplinary action for Hatch Act violations

 The worst thing for the economy would be not acting at all to prevent disease spread, followed by too short a lockdown, according to research based on US data.New research from the University of Cambridge suggests that there is no absolute trade-off between the economy and human health – and that the price of inaction could be twice as high as that of a 'structured lockdown.Economic damage could be worse without lockdown and social distancing – study

Talk of possibly raising interest on excess reserves. Or, doing overnight reverse repos to drain reserves. 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

Interesting three part read about the younger generation in China. Like the younger generation in the US, they are more socialist ideas than their elders. Neoliberalism is running into demographic headwinds.Each post is short.Sixth Tone (PRC independent media)The New-Style Pop Histories Making Socialism Cool AgainFed Up With Capitalism, Young Chinese Brush Up on ‘Das Kapital’Why It’s Time to Rewrite China’s History BooksWang Rui | associate professor of history at East China Normal...

What does she mean here by the figurative  “pressure”?  Can one of you Art Degree people help figure it out?   Throw me a bone here... "As shown in Figure 9, IOER is currently set at 10 basis points, well below the top of the target range. If undue downward pressure on rates were to emerge, the Federal Reserve could adjust IOER higher to lift overnight rates. Even if this downward pressure persisted, the ON RRP would maintain a strong floor by providing an alternative investment for money...

 In the desperate scramble for protective gear and other equipment, politically connected companies reaped billions.When the pandemic exploded in March, British officials embarked on a desperate scramble to procure the personal protective equipment, ventilators, coronavirus tests and other supplies critical to containing the surge. In the months following those fevered days, the government handed out thousands of contracts to fight the virus, some of them in a secretive “V.I.P. lane” to a...

 China's Huawei said on Thursday it would invest 200 million euros in building a mobile phone network equipment factory in the east of France, pressing ahead with the roll-out despite French curbs on firms using its 5G gear.Reuters Huawei to build network equipment factory in France