Mike Norman Economics

TikTok parent company ByteDance has filed a petition with the US Court of Appeals for the District of Columbia challenging the Trump executive order ordering it to divest from the video-sharing social networking service by Thursday, 12 November.In its appeal, ByteDance states that the US government’s arguments that TikTok is a security threat are unlawful, and a violation of the company’s rights under the US Constitution.Sputnik InternationalTikTok Owner Asks Court to Block Trump’s...

In the wake of the coronavirus pandemic, consumption shifted to an online-based model more than ever before, as e-commerce made shopping safe and its whole concept perfectly complied with a range of COVID-related restrictions. According to the United Nations Conference on Trade and Development data centre, the share of the US e-commerce spiked to 16.1 percent between the first and second quarter of 2020. Similar changes are also observed for China, where the share of online retail in total...

Backgrounder. Detailed.Bill Totten's WeblogThe Huawei warEvgeny MorozovOriginally published at Le Monde diplomatique

His basic criticism is the not entirely invalid point that MMT is fine for large countries, but not so good for small ones. However, his article does have weaknesses. He says, “funding expenditure via money creation…. the ability to do so requires that the currency be safe from speculation against the exchange rate. That requires either that the national currency serve as an international medium of exchange (reserve currency) or that the government possesses substantial foreign exchange...

The stability of the solutions of workhorse dynamic stochastic general equilibrium (DGSE) models is a major drawback of these models when trying to explain recessions. This article looks at the estimated linear New Keynesian model that was used in the previous discussion of the estimation of r* -- the Holston-Laubach-Williams (HLW) model. As I have noted a few times previously, more interesting behaviour can be obtained by nonlinear DSGE models. However, this flexibility comes at the cost of...

 By hook or by crook, a look inside the City of London banking industry."It’s an industry that rewards psychopaths.” As the global economy is potentially looking at a deep recession due to COVID-19 just after recovering from the 2008 financial crash, we hear from an ex-banker who worked in the City of London’s Square Mile from the mid-90s to 2008. He lifts the veil on the sordid world of investment banking where he enjoyed thousand-pound meals, sex parties with colleagues and £600k bonuses...

 This is interesting. Planet of the Apes was a very powerful film, and it is just as good a warning for today as it was when it was made. The apes were of different types, and strangely, when not filming, the actors kept to their own groups, chimps with chimps, gorillas with gorillas, etc.[embedded content]

MMT to the rescue.Mint (India)We could reshape our economy through state generation of jobsG.N. Bajpai is an author and former chairman of the Securities and Exchange Board of India and Life Insurance Corporation of India

Minor tech stock correction being called a "crash." That's ridiculous. Rally will resume. 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