Mike Norman Economics

It's behind a paywall today, but I did manage to read it yesterday. You might get a free view. 'One day in April, he visited the morgue in the capital, Belém. “There were 120 bodies, scattered everywhere. It’s something you’d see in a war.” Bloomberg The Pandemic’s Worst-Case Scenario Is Unfolding in Brazil

IMF predicts Spain’s economy will shrink by an unprecedented 12.8% this year As the International Monetary Fund (IMF) published grim expectations for Spain’s economy this year, the country registered an uptick in new COVID-19 infections again on Wednesday. The Ministry of Health confirmed 334 new COVID-19 infections, up nearly 100 from Tuesday. Two more deaths were also reported, which raised the total number of confirmed fatalities to 28,327. Besides having one of the highest...

Abbott orders taverns to close Texas Gov expected to roll back reopening measures after announcing 'pause' US sees second straight record jump in daily new cases India cases top 500k after another record jump Almost all US states seeing biggest jump in cases are located in south, west Japan reports 100 new cases, biggest spike in weeks Beijing unwinds more restrictions after latest cluster scare Zero Edge Texas Orders Bars To Close As Hospitals Flooded With Patients Amid Record Surge In...

Innovation.Oilprice.comRussia Develops Drone-Disabling Systems To Protect Oil FacilitiesCharles Kennedy

The next generation of US voters that will be replacing the boomers. Fast CompanyFor the first time, the majority of people under 16 in America are nonwhite and HispanicConnie Lin

My thought bubble: There's a paradox here. The people who want to print money to avoid adding to the national debt are also the people who say that the size of the national debt doesn't matter. The hope is that monetization would placate the deficit hawks, but that seems unlikely. Yes, it is only a paradox and not a contradiction. A paradox appears to be a contradiction but it not on analysis.There are several reasons that some MMT economists favor not necessarily offsetting fiscal deficits...

Zombies buy the market every time Fed is mentioned. Then it sinks back down. 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/

Links.Deficit OwlsModern Monetary Theory for Mainstream Economists

...radical thinking is required now or the rental sector is itself going to collapse... Debt deflation creeping up? Tax Research UKUnless there is major rent reform we’re going to see a horrible meltdown than the downwardRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

State and local policymakers are waiting as long as they can to impose cuts, partly because they hope that the President and Congress will deliver more aid, and partly so they can get a better sense of the crisis’ magnitude. The economic collapse happened fast and some tax revenue isn’t due yet; most states delayed income tax filing deadlines to at least July 15 (to conform to the federal delay), with others also delaying deadlines for businesses to remit sales tax. With business closures...