Mike Norman Economics

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...

The e-book edition of "Recessions: Volume I" has now been released at major online booksellers, with a few more stores to be added as the book is processed. This link brings you to the books2read website, which as a book description and the current list of stores that sell the e-book: https://books2read.com/recessionsvol1 Bond Economics  Update: "Recessions: Volume I" E-Book Edition At Major BookstoresBrian Romanchuk

The US accusations regarding China's handling of the COVID-19 pandemic are not only politically, but also economically motivated, with Washington trying to sideline Beijing in the global market, Russian Ambassador to China Andrey Denisov said on Friday.... Russia has also accused the US of competitive practice in imposing sanctions on Russia, opposing Nord Stream 2, arm-twisting to prevent countries from adopting Russian military technology, etc.Sputnik InternationalUS Blaming China for...

Brian doesn't mention it here, but an implication is with meeting obligations going forward — servicing private debt, both business and household, and meeting the monthly nut for most ordinary folks. The latter is concerning considering the level of precarity. A lot of people will find it challenging to make the rent, for example. This is of concern not only to them but to landlords that are leveraged, as well as their lenders. Obligations were undertaken based on the old normal. and it...

Continuing our new feature ...The "neoliberal conspiracy!" continues apace...  here's another big corporate bailout this week for all of you Johnny One Note "bailout!" morons: BREAKING: Neiman Marcus files for Chapter 11 bankruptcy protection, sounding ominous note for department stores during pandemic. https://t.co/JB42KjiI1c — The Associated Press (@AP) May 7, 2020