Mike Norman Economics

Hong Kong Chief Executive Carrie Lam sharply criticized the US on Tuesday for applying a “double standard” to the city’s new national security law being drafted by Beijing, as the US has seen widespread police repression and violence against Black Lives Matter protesters.... The new law comes after months long destructive protests in Hong Kong against further incorporation into China that were fueled by Western support. However, while Washington extensively criticized the Hong Kong...

Clarifying MAD.Pretty well guarantees that any conflict with Russia will go nuclear and continental US will be targeted by ICBMs.In spite of this, US policy makers are pressing on.TASSPutin sets conditions for Russia’s nuclear weapons use

Bottom Line: On a certain level this shouldn’t be that hard, at least from a macro-policy perspective. Keep pumping money into the economy to support incomes as you build out the public health infrastructure to contain the virus while gradually ramping back up the economy. We just can’t fully commit to that program. That lack of commitment leaves us with a few more downside risks than I would like. Tim Duy's Fed WatchMore Self-Inflicted Risks Than We Need Tim Duy | Professor of practice and...

Calculated RiskEnergy expenditures as a percentage of PCE at All Time LowBill McBride

The sky is falling.Zero HedgeGetting Out Of Dodge: After Exiting Loans And Hiking Mortgage Standards, JPMorgan Stops Accepting HELOCs Tyler Durden

The United States is falling behind China when it comes to emerging technologies such as artificial intelligence and quantum computing, according to Rep. Cathy McMorris Rodgers (R., Wash.), who told the Washington Free Beacon she is working on a package of legislative measures that would boost public-private partnerships to ensure the United States does not lose its competitive edge in these markets. As China invests $1.4 trillion over the next five years to dominate the field of...

Can't make this stuff up. Who woulda thunk? Even though the impending signs were known for some time.And the post is scarier than the headline.Zero Hedge2020: The Year The Chairman Of The Joint Chiefs Went To "Check On The Troops" In D.C. Streets Tyler DurdenSee also at ZHZero HedgeShocking Evidence Suggests Coordinated Effort To Orchestrate An Uprising Inside The United StatesMichael Snyder via TheMostImportantNews.comAlsoWe're In The Thick Of It Now – What Happens Next?Authored by Mike...

Although the United States has entered a period of deepening social strife and economic depression, the Republicans who are in charge have neither the ideas nor the competence to do anything about it. The Democrats must start planning to lead, starting with a commitment to full employment…. A federal commitment to full employment is not a new idea. The US Employment Act of 1946 embraced the principle.... The best response to... objections has always been John Maynard Keynes.... “Anything we...

It is no coincidence that countries with mission-driven governments have fared better in the COVID-19 crisis than have countries beholden to the cult of efficiency. Effective governance, it turns out, cannot be conjured up at will, because it requires investment in state capacity.... Project SyndicateThe Big Failure of Small Government Mariana Mazzucato, Professor of Economics of Innovation and Public Value and Director of the UCL Institute for Innovation and Public Purpose, and Giulio...

Video and transcript.Naked CapitalismMichael Hudson: Fed’s $10 Trillion Defends Assets of the Rich Interview by Paul Jay Originally published at The Analysis