Mike Norman Economics

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...

There were not enough late baby boomers (born in 1960 or later) to include in this study, but Zheng said he believes they will fare no better. The same might be true for following generations unless we find a solution for the problems found here, he said. While many of the problems linked to lower cognitive functioning are symptoms of modern life, like less connection with friends and family and growing economic inequality, other problems found in this study are unique to the United States,...

Aerial video captures the devastating impact of the explosion that left dozens dead and thousands injured in the Lebanese capital. The full scale of the blast is yet to be felt as rescue efforts continued the morning after the explosion flattened much of the city's port [embedded content]

Young people who are unlikely to be seriously affected by Covid-19 should be allowed to “get on with their lives” and the case for so-called “herd immunity” must be revisited, a Scots public health expert has saidThe Scotsman ‘Let the young get on with their lives’ says expert making ‘herd immunity’ caseBut...CNN: I can't shake Covid-19: Warnings from young survivors still suffering Some young people are not getting better As case counts among young people rise, Daniel and others in their...

[embedded content]                    "The Trump Curve."The worst hit country, the United States, adds 1,300 new deaths in 24 hours More than 18 million people worldwide have been infected with the virus was first detected in China late last year.  The worst hit country, the United States, had added 1,300 new deaths as of Tuesday evening, bringing its toll to nearly 156,000, according to Johns Hopkins University. The caseload grew by 53,847 to nearly 4.8 million, it said Countries in...