Mike Norman Economics

Going mano a mano.Zero HedgeIndian And Chinese Troops Clash In Fistfight At Disputed BorderTyler Durden

Some myths are being propagated: that Putin is hiding, sloughing off responsibility to others, and providing little to no support to the population or sectors thereof during the crisis. The reality is quite different and more complex, but the crisis bodes ill for both Putin, Russia, and the world. It remains unclear who will remain standing once the multiple pandemic, oil, and economic crises have had their say.... Fairly detained look at Russia's political and economic response. Russian...

Warren Mosler sums it up pithily: Modern money as state-issued currency is a tax credit. Richard Murphy unpacks this a bit.Tax Research UKWhat is money? An explanation Richard 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 ForumAlso from Richard Murphy I would say that MMT is well-defined by the MMT economists. Most...

NumbersCalculated RiskRecession Measures and NBERBill McBride alsoAngry BearElementary Statistics Review — Hypothesis TestingRobert Waldmann

Now that the US is opening up for business, some useful information from a biology prof whose speciality is immunology.Stay safe during the transition.The Risks - Know Them - Avoid Them Erin Bromage | Associate Professor of Biology at the University of Massachusetts Dartmouth.

Look like same thing as Reinhart/Rogoff Excel error....Darwin makes an appearance with these people ofc right on cue: The Imperial team’s response is that it doesn’t matter: they are “aware of some small non-determinisms”, but “this has historically been considered acceptable because of the general stochastic nature of the model”. Note the phrasing here: Imperial know their code has such bugs, but act as if it’s some inherent randomness of the universe, rather than a result of amateur...

A plan to help homeowners avoid foreclosure was good, in principle. In practice, it’s pushed the mortgage business toward yet another potential nightmare Another swindle from the industry, repeating previous bad behavior in a diffeernt key.Matt TaibbiThe Bailout Miscalculation That Could Crash the Economy

What Lars does not mention probably because it is so well know "in the business, but which most probably don't know, is that Gary Becker's rational choice approach has been extended far beyond economic and policy formulation based on economics to the rest of social science.  However, sociologists have questioned the empirical foundations of the modeling assumptions. Rational choice theory is a theoretical framework commonly used in various social sciences including economics, political...

Like I said weeks ago. Massive fiscal support and market looking ahead. Sentiment too bearish. Market going higher. Trade and invest using the concepts and understandings of MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

China is back in the game.Asia TimesChina forges ahead through chaos and threats Pepe Escobar China building out its own nuclear triad to join the club with US, UK, France, and Russia. See also SouthFrontChina Readies Unveiling Of Stealth Nuclear Bomber Capable Of Reaching LA Also While the global economy plunges into a recession, actively aided by the coronavirus pandemic, the US is already hatching plans not just for its own recovery, but also the removal of geopolitical...