Mike Norman Economics

This "virus!" thing better be a real problem...[embedded content]

OK then lets take their USTs in compensatory damages.... Trump says China made a 'mistake' and tried to cover up coronavirus outbreak https://t.co/SkrtvBEgK7— CNBC (@CNBC) May 4, 2020

We’ve never needed new economic thinking like we do right now. The economic effects of the COVID crisis are again laying bare the failings of traditional economic thinking. But it is also forcing our institutions toward beneficial policies that would usually be anathema to orthodox understandings.Evonomics has published hundreds of articles over the last four years that rationalize and explain what we need to do today, and why. Here’s a guide to those articles. We hope you, our readers,...

David Icke got banned from YouTube and Facebook because he was placing people's lives in danger with his Covid-19 and 5g conspiracy theories.I have explaining why YouTube's took this decision on Twitter, although there are better ways of dealing with people like David Icke.Wisdom Rebel say that rather than ignore David Icke he should have been brought into the mainstream to be interviewed and challenged. They also say that some of these conspiracies need investigating. They certainly do.An...

New record high... up about $100B from previous all time high last week to close Thursday at $1,180B...Treasury appearing to be reducing Reserve Assets at Depositories by about $100B per week over the last couple of weeks....   Treasury has reduced Reserve Assets like this by $800B since March 23rd equity markets bottom...Still not clear if this is a deliberate policy.I sent Treasury an email inquiring about the current TGA policy have not heard back yet... will report here if I do...

Stephanie Kelton says no problem for countries that issue their own currencies, set their own rate, and don't take on obligations not in their currency. Edward Chancellor says no, because "inflation." Interestingly, he argues from history and makes no distinctions, treating all situations as homogenous regard of monetary regime and attendant circumstances. Fail.Financial TimesCan governments afford the debts they are piling up to stabilise economies? Stephanie Kelton and Edward...

Buffett parroting Trump here... Highlight: “If you print bonds in your own currency, what happens to the currency will be the question.” Buffett says. “But you don’t default. The U.S. … has been smart… to issue its debt in its own currency.” #YFBuffett pic.twitter.com/7iy6pUkPQZ— Yahoo Finance (@YahooFinance) May 3, 2020

Good thread examining the current Gain of Function issue:TIL of "Gain of Function" research (GOF).GOF is monkeying around with viruses to see if you can get them to "gain" some new "function"—e.g. infect new animals, increase virulence, create vaccines, whatever.And GOF research comes with major risks—including accidents.— Justin Owings (@justinowings) May 2, 2020

Some good news here:Well this is good news that so far there is no evidence of reinfection!...Tests in recovered patients found false positives, not reinfections, experts say https://t.co/a0eof1KuJG— Anne Eacker MD (@EackerAnne) April 30, 2020

Zinger.Information Transfer EconomicsWhat's in a name?Jason Smith