Mike Norman Economics

A tweet yesterday.  Do remember an uncontrolled Covid 19 pandemic would also completely tank the economy.  Hundreds of thousand dead, widespread panic and break down of public trust and order, will be devastating, and harder to return from, "herd immunity" or not. Aggressive social distancing policies being used to slow the spread of the novel coronavirus COVID-19 are hammering the U.S. economy, but an analysis by University of Wyoming researchers suggests that these measures are...

After the fossil fuel industry spent hundreds of millions of dollars undermining climate science, it’s easy to see how epidemiology came next. I've been debating with the anti-vaxxers and C-19 conspiracy theorists on twitter. Many of these people say they are on the left, like the Off-Guardian, but they come across more like libertarians to me. I find these people disturbing and they make me feel like a centrist, which I'm not, but one guy said I was a neoliberal and told me to look at...

My brother expressed racist views towards the Chinese the other day and I defended them, but it wasn't easy with their horrible wet markets where live animals are sold.But in the West we have farmers markets where live animals are sold too, and then taken to slaughter, and with what I've seen on Twitter it's often horrendous, so horrible, in fact, that I won't describe it here.Sinophobia is a fear or prejudice of expressed towards China and its people. Similar to other varieties of...

Where the COVID-19 pandemic began is still an open question. The Unz ReviewThe Hunt for Patient Zero Godfree Roberts

Longtime friend Yves Smith of Naked Capitalism published an interview today with Richard Vague, Pennsylvania's acting Secretary of Banking and Securities, that takes issue with my last two Substack pieces on the recent bailouts. Both Vague and Yves seem to think I've been "acrophobic" about modern Monetary Theory and perhaps unconsciously mired in questionable orthodoxies about debt and government spending.... Matt TaibbiA Quick Note In Response to Naked Capitalism— I'm phobic about...

Productive capital versus fictitious capital.Reminiscence of the FutureWhat Could Be Better Than...[Reading Michael Hudson] Andrei MartyanovSee also from Andrei Martyanov today.Who Would Have Thought. Reading The Signs. Noblesse Oblige 2.0.

These two banks are taking today about a combined $10B loan loss reserve from the Wuhan Virus... Citi and BofA reporting later this week probably count them in for another $10B so maybe $20B total from the 4 money centers...  so far... Chase Bank & Wells Fargo Prepare for MASSIVE Round of Defaults on Credit Cards, #Mortgages & Business Loans... https://t.co/8puIWQm0CJ #ChaseBank #WellsFargo #recession #CreditCards #SBAloans — The Altruist Party - Economic Sustainability...

And much more coming. If they reopen the economy soon, growth could skyrocket. 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/

MMT is a theory of empire. This is not to say that its advocates are imperialists. Rather, they are observers who note a reality that the post-colonial thinker has long understood – imperialists can run the world on whims and fictions. The question is ultimately, what are the merits of the whims. Should the US spend a trillion dollars invading a country of herdsmen, or should it build better hospitals, airports, and highways? MMT does not take a position on this; it merely states that the...

The crisis has brought the economy to a near halt, and left millions of people out of work. But thanks to intervention on an unprecedented scale, a full-scale meltdown has been averted – for now....  So far, it's pretty much the same as it was in the previous financial crisis — finance was saved, others ?The potential for civilizational collapse is all too real. This pandemic has so far served as a wake-up call. Will it be heard?The Guardian (UK}How Coronavirus Almost Brought Down The...