Mike Norman Economics

In the latest revision to the IMF's economic outlook published this morning, the fund warns that the world is facing "a crisis like no other", and now expects global growth to shrink -4.9% in 2020, 1.9% below the April 2020 forecast of -3.0%. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, the IMF said, adding that the recovery is projected to be more gradual than previously forecast. In 2021 global growth is projected at 5.4%...

Propaganda ploy for US domestic consumption pre-election. Mike Pompous Mike is likely preparing for his own run in the future.Moon of AlabamaPompeo's UN Move Against Iran Will Fail. Why Is He Still Pressing It?AlsoZero HedgePompeo Mocked For Saying Iranian Jets Could Strike "Asia" Through "One Way" Flights Tyler Durden

Yes, the government can just issue currency — as long as it doesn't lead to demand that outstrips supply. Then inflationary pressure will build up. Generally, though, the economy is not running at capacity, and there are idle resources going to waste.Government has the fiscal capacity to put those idle resources to use. For example, with a universal job guarantee that offers work (job matching) at a living wage plus benefits to anyone willing and able to work, actual full employment (less...

New virus outbreaks and next month, the end of some fiscal support, plus taxes due. 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.pitbulleconomics.com/podcasts/

It is naive to believe that forced technological decoupling, trade sanctions, or forced changes to global supply chains will put an end to China’s future economic expansion. If critics are too short-sighted to see this, it will be their loss. Project SyndicateExplaining China’s Economic ResilienceZhang Jun | Dean of the School of Economics at Fudan University and Director of the China Center for Economic Studies, a Shanghai-based think tank

Backgrounder.econintersect.comThe Hainan Free Trade PortDan Steinbock, Difference Group

Here is Episode 4 in our weekly MMTed Q&A series. Bill Mitchell – billy blogMMTed Q&A – Episode 4Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

Work is proceeding on my "MMT primer" manuscript. One chapter I am working on (in parallel with the labour market analysis) are a discussion of what I view as serious objections to MMT as a theory. Although I want to finish off that chapter later, I am adding to it as I run into interesting criticisms. I discuss a couple of recent entries in this article. Although I do not want to derail my book with lengthy discussions of MMT critiques that are coming from every random direction, I also...

What we are up against. Unfortunately, this is where a lot of the public is on the issue. It doesn't get  much worse, right down to the Fed being a private corporation and "taxpayers on the hook."The Advertiser-TribuneModern Monetary Theory Rebecca OriansTiffin

Competition is a good thing, right? Zero HedgeChina Launches Final Beidou Satellite To Challenge America's GPSTyler Durden