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Mike Norman Economics

“Dr. Doom” At IT Again: Predicts 10-Year Depression — J. Barkley Rosser

Barkeley Rosser says to take Roubini with a grain of salt, but only a grain, since he makes some important points. I am in agreement with that. Both optimism and pessimism need to be tempered with realism, and reality is fraught with uncertainty owing to human decisions that affect conditions. And just as the weather is relatively uncertain other than short term, reality has a way of delivering "exogenous shocks." So the watchword should be "caution." That is not a meme or mantra of this...

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Pamela Yellon – Death by Investing: How a 10 Percent Loss Raises Mortality Levels

Stock market declines are linked to early death, illness, and fatal accidents. Are you at risk? This is what bothers me about the Lockdown, could it kill more people than Covid-19 in the long run?Losing money in the stock market can cost you your life, and I'm not just talking about the old cliché of people jumping out of skyscraper windows when markets crash. In fact, people with as little as 10 percent of their wealth in the stock market who experience a 10 percent loss stand an...

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China: one country, two sessions, three threats — Pepe Escobar

It’s absolutely essential to position the Two Sessions [of the 13th National People’s Congress] within the larger, incandescent geopolitical and geoeconomic context of the de facto new Cold War – hybrid war included – between the US and China.... The great game is still about who controls the Eurasian land mass as the center of the "world island," set forth by British strategist Halford Mackinder, and the "rimland," proposed by Nicholas J. Spykman. These doctrines were the basis of the...

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Russia, China won’t accept US nuclear superiority — M. K. Bhadrakumar

The arms race is on. And further reason for Russia and China to enter into a closer military alliance to counter the US and its allies. The world is splitting economically, politically and militarily into opposing camps again, which is doubly dangerous in difficult economic times. Liberal globalization is on hold for the foreseeable future, as the rivalry between liberalism and traditionalism heats up. India PunchlineRussia, China won’t accept US nuclear superiority M. K. Bhadrakumar |...

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Bitcoin’s Shocking Energy Consumption — Haley Zaremba

When it comes to thinking about which economic sectors and industry niches that consume the most energy, cryptocurrencies may not immediately come to mind. But for some of these crypto companies, their energy and carbon footprints are not just considerable, they’re massive. The most famous example, Bitcoin, has an annual energy footprint slightly larger than the entire nation of Switzerland. The company’s current energy consumption can be tracked here. Last year, the University of...

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