Mike Norman Economics

VALDAI. Putin's speech is here. To my mind, other than the funeral crack, the most memorable bit was his strong defence of a mixed economy: when things are purring along, free enterprise does the job but in bad times you need the government. I'd say the last 20 years vindicates this point of view....Sic Semper TyrannisRUSSIAN FEDERATION SITREP 5 NOVEMBER 2020Patrick Armstrong

The conclusion is clear: The next US administration should accept China’s continued economic and technological rise. It may not like the idea of China overtaking the US – a milestone that will probably be reached within the next decade. But further attempts to stave off that outcome would be not only futile, but also very costly.Well, the real question is can American accept not being number one. Probably not. Thucydides trap on schedule.Project SyndicateThe US Must Accept China’sDaniel Gros...

 Even though China’s financial system is not terribly transparent, and English language reporting on China’s politics should be taken with a fistful of salt, regulators stomped on a globally high-profile company widely deemed to be one of China’s stars to send a message. And even from the other side of the world, mediated through the Anglo press, the message seems very clear: China is going to leash and collar businesses, whether banks or fintech players, that profit by giving consumers high...

Covid-19 is drawing a sharp wedge not only between China and the rest of the world, but also between China and its hinterland. It is yet to be seen how this will play out both geopolitically and in economic terms.Real-World Economics Review BlogDeveloping Asia: The growing divergence between China and the restC. P Chandrasekhar and Jayati GhoshSee alsoChina’s rise reflects a bourgeoning global movement away from U.S. imperialism and toward [national] self-determination. MR OnlineAmerican...

On Tuesday (November 3, 2020), the Reserve Bank of Australia made its monthly announcement with respect to the conduct of monetary policy. The governor Philip Lowe released this – Speech – to announce the decision. There were four elements to the decision, which I will explain. But the most significant aspects of the decision was to set the support rate on excess reserve balances to zero and increase their government bond buying program by 200 per cent. And the most significant aspect of...

Sino-American trade war recap.Eurasia ReviewThere’s A New Front In US-China Trade And Tech War – AnalysisAarshi Tirkey, Observer Research Foundation

A new era of technology is being defined right now—and not only by the “magnificent seven” tech giants that are collectively worth $7.7 trillion.Instead, it’s being defined by a new generation of tech-driven companies that operate across multi-trillion-dollar industries … and target the trillions of dollars that Big Capital is shifting into ESG, or “impact” investing.These next-gen tech companies create entire “ecosystems”, some with unlimited verticals …And they de-risk by focusing on...

Legal machinations notwithstanding, Donald Trump is done. Joe Biden will ultimately be declared the winner. And this is what it likely means for the markets. 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

Neoliberalism still rules. Fiscal conservatism waits in the wings.Bond EconomicsStatus Quo Election And Another Lost DecadeBrian Romanchuk