Mike Norman Economics

The US Bureau of Economic Analysis (BEA) released the – Gross Domestic Product, Second Quarter 2020 (Advance Estimate) – data last week (July 30, 2020). It shows that the US economy has declined by 9.49 per cent between the March- and June-quarters. On an annual basis the decline was 9.54 per cent. This is the largest quarterly contraction in recorded history. Consumption expenditure declined by 10.1 per cent in real terms and business investment by 17.4 per cent. The collapse in consumer...

This doctor debunks many of the Covid-19 conspiracy theories.Hospitals do get $13,000 per patient and then another $39,000 when they go on ventilators, but ventilators are very expensive, and people on them need more supervision, more trained medical staff, and very expensive drugs.Hundreds of you have requested that I watch and respond to the Plandemic movie ft. Dr. Judy Mikovits, recently published on social media. I decided to check it out and respond point by point to the biggest claims...

Aug 2 (Reuters) - Venerable U.S. retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector. The company estimated both assets and liabilities in the range of $100 million to $500 million, its filing in the U.S. Bankruptcy Court for the Eastern District of Virginia showed. A storied department store chain founded in 1826, billed as the oldest in...

[embedded content] John R. Stockwell (born 1937) is a former CIA officer who became a critic of United States government policies after serving seven tours of duty over thirteen years. Having managed American involvement in the Angolan Civil War as Chief of the Angola Task Force during its 1975 covert operations, he resigned and wrote In Search of Enemies. As a Marine, Stockwell was a CIA paramilitary intelligence case officer in three wars: the Congo Crisis, the Vietnam War, and the...

It contains an interesting video. It looks like the Russiagate narrative is falling apart.Sen. Lindsey Graham teases evidence that the FBI lied to Congress about the Steele dossier; Fox News contributor Dan Bongino reacts. Yahoo Bongino: How was Steele connected with the real people in the fake Russia dossier?

Neoliberalism and neoconservatism as the servant of capitalism through neo-imperialism and neocolonialism?Strategic Culture FoundationThe Privatization of Global ChaosStephen Karganovic, President of the Srebrenica Historical Project

Covidiots on twitter are complaining that they are not allowed to take the kids to see their grandparents so they can give them a cuddle. Old people are suffering, they say.Two new studies, though from different parts of the world, have arrived at the same conclusion: that young children not only transmit SARS-CoV-2 efficiently, but may be major drivers of the pandemic as well. New Evidence Suggests Young Children Spread Covid-19 More Efficiently Than Adults

Famed geneticist George Church and at least 20 others didn’t want to wait for the results of clinical trials: “I think we are at much bigger risk from covid.” I'll have to admit, I'm tempted, although I think it's probably worth waiting a few weeks to see if anyone dies first. But it does seem to be just harmless fragments of a dead coronavirus.A warning: He isn’t the only skeptic. Arthur Caplan, a bioethicist at New York University Langone Medical Center, who saw the white...

Neoclassical and credit approaches to money represent dramatically different theories of value. For many within the neoclassical tradition, the market exists as a conceptual enterprise – a place where independent agents compare and rank real goods, exchanging them afterwards to in accord with their preferences. That theory reflects a particular approach to value, identifying it as a pre-existing quality ranked by individual choice. The theory also generates a particular approach to money,...

Automatic stabilizers.  Automatic stabilizers won’t entirely eliminate the need for Congress to act when the economy tanks, since each recession has its own unique root causes that usually need to be addressed. In 2008, there was a housing crash and financial crisis; today, there’s a pandemic that’s shut down normal life. Lawmakers will still have to come up with solutions to tomorrow’s calamities as they arise. What stablizers would do is spare our elected officials the need to reinvent...