Mike Norman Economics

After months of study, scientists have better clarity on the coronavirus's lethal potential—which makes recent case surges all the more alarming. Covid-19 could be 50 to a 100 times more deadlier than the flu.What’s more, scientists today have a better sense of how to measure COVID-19's lethality, and the numbers are alarming. Using a more sophisticated calculation called the infection-fatality rate, paired with the past few months’ worth of data, the latest best estimates show that...

Daily corporation income tax deposits fall below last year for first time since June 16. 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

Gold flies. Is Neel Kashkari really that dumb? And Guuuuunnnnnddddlaaaaaacccchhhhhh!

It's on YouTube again, but last week it disappeared for a while and then turned up again. I thought I would post it before it goes again. [embedded content] There was a website with associated with this film, but I can't find it today.

Breakeven inflation rates in the United States have recovered from their crisis swoon, but remained at depressed levels. This is in contrast to the rather feverish inflation predictions that are coming from the usual sources, like gold enthusiasts.This article is brief, just commenting on what I see as the implications of current pricing. I am largely reiterating my views that appeared in Breakeven Inflation Analysis. I am seeing commentators discuss the implications of low "real" yields,...

This is kind of a no-brainer. The US should have been participating in a concerted effort to build a Western Hemispheric bloc rather than attempt to control Asia when China, India, Russia and Iran, and soon Indonesia, are the major players on the ground. Dumb strategy to overextend.The US will always have a foot in Europe owing to the special relationship with Britain, even when NATO is history, which it should be already, after the collapse of the USSR. The attempt to keep it alive past its...

Last month, Secretary of State Mike Pompeo delivered an anti-China speech that was extremist, simplistic, and dangerous. If biblical literalists like Pompeo remain in power past November, they could well bring the world to the brink of a war that they expect and perhaps even seek.Jeffrey Sachs takes aim at the crazy.The current campaign against China goes far beyond Wilsonian liberal interventionism, neoconservatism (neo-Trotskyism) spreading freedom and democracy, and embarks on...

This provocative (in the sense of thought provoking) comment was posted on the blog yesterday and I can only apologise to Andrew Sayer and Kevin Morgan of Lancaster University, who offered it, for not getting to read it until late in the day due to other commitments. I found what they had to say extremely useful, and I am accepting the challenge to think hard that they set. Comments are welcome, and today I may be around to moderate more often:Worth a read. The problem with understanding MMT...

Here is Episode 10 in our weekly MMTed Q&A series. This is the last episode in Season 1. We are experimenting with new formats and will be back later in 2020 with some live shows (if the virus abates). In this episode, I continue my talks with special guest is Warren Mosler. We talked about the Modern Monetary Theory (MMT) approach to trade, which confounds a lot of people but is really quite straightforward. And, as usual on a Wednesday, we have some great music.Bill Mitchell – billy...

Why so many people think COVID-19 is no worse than flu, and why doctors are worried.Comparing seasonal influenza (flu) mortality to the mortality rate of coronavirus 2019 (COVID-19) is a threat to public health and demonstrates the lack of understanding about how the data is collected for each infection by varying agencies, according to a Viewpoint  Authors from Brigham and Women’s Hospital and Emory University School of Medicine outlined why the apparent equivalence of deaths from...