Mike Norman Economics

Total economic ignorance from a German court, but it could harm ECB's efforts to help the German economy. 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

Just for the record, I still believe in the all the things I've always believed in, but not in the way the alt-left do. I have also found myself to be in divergence with Paul Craig Roberts over the years on many topics, although I still find a lot of his posts to be good. But the alt-left have got me questioning everything.Anyway, although not current, this Bill Binney video on Russiagate is excellent. I have posted similar videos like this before, but I think this one is the best.And yes,...

This is excellent: David Fuller describes what has gone wrong with the alt-left. They have developed an echo chamber where they believe only they, 'the insiders', know what's going on. This movement is a combination of alt-left and right-wing, anti-government libertarians, like James Corbett. It is a kind of collective insanity.Anyone who disagrees with them is considered to be part of the enemy, so they have been calling me a neoliberal, a corporatist, and a Bill Gates shill. Their minds...

Important. What this will mean is that companies working with reduced efficiency and increased costs in markets where demand will be reduced will be under enormous stress. They will, absolutely inevitably, suffer reduced profitability from their trading activities, but will nonetheless be facing fixed financial obligations created in an entirely different era and market and, quite crucially, legally these obligations are not re-negotiable in most cases. It does not take a financial genius...

Russia’s economy proves strong in a global comparison With the corona crisis taking its toll around the world, Russia’s economy looks relatively strong in a global comparison. This should not come as a surprise to anybody who has been following our Awara reports on the Russian and global economies. In a seminal report with the ominous title With Global Recession Looming, Russia Looks Strong — which garnered across various platforms over a quarter of a million readers last August – we at...

In today’s ruling, the Federal Constitutional Court upheld several constitutional complaints against the Public Sector Purchase Programme (PSPP), stating that the ECB’s decisions on the Public Sector Purchase Programme were incompetent, as the proportionality had not been assessed:... In my opinion, this assessment is adventurous....  Conclusion: economic ignorance has led the BVG to make a hair-raising judgement. If the ECB’s PEPP also becomes the target of a lawsuit, this could mean the...

The Bank of England is right to step in to fund the Treasury’s coronavirus stimulus package, because there are more important things to worry about than government debt The truth is that most of the state debt we owe to each other, and we have the capability to meet obligations denominated in pound sterling. Policymakers have long been concerned that if the public understood this then they might ask awkward questions such as: if we could do this to deal with the coronavirus crisis, why...

The recent death count reached six times the normal number of deaths for the city at this time of year, a surge in deaths much larger than what could be attributed to normal seasonal variations from influenza, heart disease or other more common causes. The city’s largest mass casualty event in recent memory, the terrorist attacks of Sept. 11, 2001, claimed only a small fraction as many lives. It is too soon to know the precise causes of death for New Yorkers in this period. Although many...

Turning into more than a trade war. Is a Thucydides Trap springing?Zero HedgeTrump Administration "Turbocharging" Efforts To Grapple Global Supply Chains From China Tyler Durden

Series of quotes.Fictional Reserve Barking The macroeconomics of Robert Solow: A partial viewby circuit