Mike Norman Economics

The US is now officially the global ground zero of the Coronavirus outbreak, with approximately 50,000 new cases and 1,000 deaths recorded daily – numbers that are growing exponentially each day. It was a reality painted in stark detail by the White House on Tuesday when it revealed a graph showing that it expects there to be a minimum of 100,000 to 240,000 American deaths from the virus within the coming months. The Christian Right Becomes A Suicide Cult, by CJ Werleman

The president of the Shanghai Gold Exchange (SGE) believes that a new hard currency independent of any state is needed to develop international trade when the world enters the post-pandemic period.... According to Wang Zhenying, quoted by Reuters, the dollar, as a weapon of US pressure and a source of vulnerability for other countries, can no longer be the standard global currency. He admits that gold is also not an ideal means of exchange, as its quantity is limited and it cannot meet the...

"Photoshopping" video.LawfareThe Deepfake iPhone Apps Are HereJacob Schulz

When Kevin Rudd was faced with the threat posed by the unfolding GFC in late 2008 his government became very pragmatic and immediately ditched the narrative they had been pushing out throughout that year about inflation being a threat and the need for tighter fiscal policy and surpluses. They introduced, in two rounds, a fairly significant fiscal stimulus (around 4.2 per cent of GDP) which effectively saved the Australian economy from entering a recession. A significant part of that...

Emergency measures pile pain on to mourning families as coronavirus tears through the ill-prepared jungle-flanked city The city’s mayor, Arthur Virgílio, pleaded for urgent international help. “We aren’t in a state of emergency – we’re well beyond that. We are in a state of utter disaster … like a country that is at war – and has lost,” he said. The Guardian  'Utter disaster': Manaus fills mass graves as Covid-19 hits the Amazon

LOL all you lefty climate nutters here I guess are going to have to convert over to virus nutters now instead!Can't even make it up!ok you guys lets hear it where you now start to believe this uneducated 16 year old about epidemiology and virology instead of climate.... #letsgoGreta Thunberg launches campaign to fight coronavirus https://t.co/HYN9x5buMb #GretaThunberg pic.twitter.com/TN9yipkZxZ— The Washington Times (@WashTimes) April 29, 2020

Like I've been telling you, the market is going higher. But some new developments may be coalescing. 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/

A really good article by Jonathan Cook going into why many people believe conspiracy theories. After being lied to about Iraq and WMD, 9/11 - where the government wouldn't listen to people's concerns and extend the enquiry - and where we were told that neoliberalism would bring about a better, brighter future but we ended with something far worse instead, people just don't believe anything the establishment says anymore.In the past, science has sometimes been distorted by commercial...

At least some on the left are taking cognizance of MMT, but if this author is any indication, more study is required to understand what MMT is and what it is not. But at least it is a try.Green LeftCOVID-19 debt crisis: Is Modern Monetary Theory a solution? Neville Spencer

The coronavirus is going to teach — or, to be more precise, reteach — some hard economic lessons. One of them is probably going to be the need for policymakers to focus on money a bit less and real resources a bit more. It's called coming back down to earth. Hopefully, without crashing. But when you have been flying up in the clouds for so long..… In purely practical and material terms, all of these problems are entirely solvable. The problem is the abstraction of money: For the people who...