Mike Norman Economics

Brooks Bros? Is nothing sacred anymore? (snark)Zero HedgeThe "Biblical" Default Wave Arrives: Here Is The Avalanche Of Bankruptcies Unleashed By CoronavirusTyler Durden

Backgrounder and commentary on The Deficit Myth.The BafflerThe Money Printers Dave Denison

I like Tesla, but come on! 40,000 retail (novice) accounts bought today. Learn MENTAL GAME, people! 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

 Report on an interview with Bill Mitchell. A transcript of the interview is available here.The Spinoff (NZ)Pipe dream or quick fix? On the post-Covid allure of modern monetary theory Jeremy Rose ht Neil Wilson

This is a draft I am working on for a leading US publication. For many regular readers it will be nothing new. But while there are several things I am probing at the moment which I would normally use my blog space to tease out, time is short this week (really) and so I have to combine things. In other words, the blog space and time today is being used to fulfill commitments with very tight deadlines. But, putting the arguments together in this way might just provide some different angles...

Pageviews all time history 10,000,525 Some time last night Mike Norman Economics hit 10,000,000 page views since it inception. A milestone.Thanks to all for participating.

Emerging cases of Covid-19 reinfection suggest herd immunity is wishful thinking. It seems like you can catch Covid-19 a second time, and it may be worst than the first.  “Wait. I can catch Covid twice?” my 50-year-old patient asked in disbelief. It was the beginning of July, and he had just tested positive for SARS-CoV-2, the virus that causes Covid-19, for a second time — three months after a previous infection. Vox My patient caught Covid-19 twice. So long to herd immunity...

(Reuters) - Billionaire philanthropist Bill Gates called for COVID-19 drugs and an eventual vaccine to be made available to countries and people that need them most, not to the "highest bidder," saying relying on market forces would prolong the deadly pandemic. "If we just let drugs and vaccines go to the highest bidder, instead of to the people and the places where they are most needed, we'll have a longer, more unjust, deadlier pandemic," Gates, a founder of Microsoft, said in a video...

It sounds like a scary prospect, but if it's approached in the right way, it could open us up to a much more fulfilling way of life Can AI set us free and make us happier, or will we become bored without all the problems and hassles? Will machines outclass us in every way?  The monopolising of AI will lead to mass unemployment and mass welfare, reverberating globally. AI efficiency and efficacy will soon replace the error-prone human. It must be the case that AI is to be...

NBA personality and owner of the Dallas Mavericks franchise Mark Cuban shares Buffett’s sentiment. He believes the stock market’s breathless rally will end once the magnitude of the pandemic’s devastation is known. Day traders are making money thinking they are geniuses in a bull market. Howard Marks, another billionaire investor and CEO of Oaktree Capital in the U.S., said people are buying stocks for fun. Don’t look at it as a gambling game because reckless trading is not healthy. Many...