Mike Norman Economics

...Trump rules the United State the way that he was managing his companies. When people ridicule him for not knowing the US constitution and the like, they also make a total mistake. Trump does not see the difference between a company and the state. This is the best indicator that it is the neoliberal economics that has already been spreading to a number of areas and is now in the process of taking over the state as well.... This is pretty close to Italian fascism — Benito Mussolini and...

Philippe Lemoine has a four part series• on how China handled the Covid-19 epidemic. It’s far and away the definitive account of this issue; no other article even comes close. What's inability to take responsibility called? Immaturity? The Money IllusionThe blame gameScott Sumner | Ralph G. Hawtrey Chair of Monetary Policy at the Mercatus Center at George Mason University • See Philippe Lemoine's blog. The series is now five part.

John Wight and Carlos Martinez share my views about China. I can't talk for its chequered past, but modern China looks promising. The Chinese are very collective and place the family as the most important institution, but unlike the West, the family extends to the whole of society. With its Buddhism, Taoism, confucianism, its society is very different from ours. China will soon surpass the West economically, says John Wight and Carlos Martinez. Its state planned socialist system with markets...

 The controversial epidemiologist believes lockdown is ‘using a hammer to kill a fly’. Could he be proved right?For many Swedes, their state epidemiologist has embodied a rational approach as other countries have appeared to sacrifice science to emotion. “I wish I were coming with you to see him,” one of Sweden’s leading chief executives confided to me just before I went to see Tegnell. “The way he has stood for what he believes in while the rest of the world does something else is...

Zero HedgeCOVID Financial Pain 'Much, Much Worse' Than Expected, Warns Harvard Study Tyler Durden

Tax flows suggest corporate sales and profits slowing. That's causing the correction, but things could get a lot worse. 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

Tax flows suggest corporate sales and profits slowing. That's causing the correction, but things could get a lot worse. 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

The world is “on the cusp” of a new era marked by instability, disorder and the fragmentation of the previous period of globalisation, Deutsche Bank, the largest bank in Germany and one of the largest financial institutions in the world, has predicted in a new report. In a document for clients entitled the ‘Long-Term Asset Return Study’, the bank suggests that the coronavirus crisis has accelerated, but not caused, the coming about of what lead analyst Jim Reid refers to as the new ‘Age...

US government spending is high historically but questionably targeted.  Uncertainty reigns in the private sector and firm spending is not taking up slack, as a result of the stubborn pandemic.Bill Mitchell – billy blog[Australian] Federal government cutting spending as payroll data shows employment still in declineBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

A short review of Lee Vinsel and Andrew Russell’s The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most. Mes a case that US society and its elite are so absorbed in the future, past and present are being ignored — at the peril of the society, e.g., failing to repair or replace depreciating capital. Some of this pertains to infrastructure that is the government's responsibility, but much of it affects industry, too. The argument is that the US...