Mike Norman Economics

Guessing games. How can the stock market break new records amid recent worst crisis? Is the financial world even connected to the real world? 'We're suffering the biggest macroeconomic shock since the 1930s and the stock market is fine. It makes absolutely no sense unless we see that the market is not connected to the real economy where people are," says Mark Blyth, professor of international political economy at Brown University in the US. Blyth thinks the trajectory in stock markets...

Sputnik InternationalPompeo's Bid to Create Anti-China Alliance Backfiring on Trump, Former US Diplomat SaysUS Expands Sanctions Against Iran to Target Nuclear, Military, Ballistic Missile Programs - Pompeo Zero HedgeSenate Committee Moves To Allow Americans To Sue China Over COVID-19 Tyler Durden TASSUS intends to leave Afghanistan by May 2021, says PompeoUniper calls US pressure on Nord Stream 2 interference in European sovereigntyRussia prepares joint investment projects for China worth...

When the US was winning in the market place it trumpeted capitalism, but now China is catching up it has lost its taste for the free markets.The US is going to play dirty to kick the competitors out of the market. [embedded content]

Proposals to abolish the (central) government bond market is one of the striking features of Modern Monetary Theory. In the current context, it is debatable how much difference that such a change would make. I avoid attempting to be a forecaster, but it is safe to say that it would not be a true “surprise” if developed economy policy rates remained below 1% for a good portion of the 2020s. (This observation is consistent with bond market pricing at the time of writing.). This is a basic...

 Backgrounder on historical Populism and its relation to contemporary American politics. Formerly representive of the values and interests of ordinary working people, the Democratic Establishment lost the plot along the way.Dollars & SenseReview of Thomas Frank’s “The People, No” Polly Cleveland

Huckabee's Breakdown is a conservative site and this article from them turned up in my news feed today. It looks interesting!The fake Steele Dossier. Is Russiagate about to unravel? [embedded content]

Backgrounder.Slavery was neither essential to US growth nor were plantation economy of the South even that helpful economically. It was a benefit to owners of slaves, however, and slaveowners were prominent among the Southern states' elites.Conversable EconomistSlavery and the History of US Economic GrowthTimothy Taylor | Managing editor of the Journal of Economic Perspectives, based at Macalester College in St. Paul, Minnesota

Today's GDP report, which showed a record contraction in the US economy, also contained some ominous forward looking signs. State and local spending and investment is cratering. 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 new NWO (New World Order) The US government has founded the G20 group comprising of the most important economic nations. It plays a key role in setting its agenda. US corporations dominate the World Economic Forum and the most important international industry associations and regulators. If they all work together to take advantage of a global crisis, the result is an almost bizarre self-commitment by governments to fulfill the wishes of the corporations. The World Economic Forum, the...

In case you didn't catch this.The US federal government is  running a fiscal deficit that is also recordbreaking. But it is not targeted and is also doesn't do much for state and muncipal governments that are otherwise constrained by taxing or borrowing in financial markets.Not looking good at this point, especially now that medical authories are saying that the pandemic is not going to be "over" as was and still is commonly expected, and it is a condition of life that the world will be...