Mike Norman Economics

UN Secretary-General Antonio Guterres has said that the effects of the Covid-19 pandemic will massively increase poverty worldwide, as the number of confirmed cases continues to grow.... RTPossibly ‘deepest since Great Depression’: UN chief Guterres warns about pandemic-induced economic downturn

The Trump administration quietly ordered the transfer of some $342 million in funds from a Venezuelan central bank account at Citibank to an account controlled by opposition leader and self-proclaimed Venezuelan ‘president’ Juan Guaido at the New York branch of the US Federal Reserve.... Sputnik InternationalVenezuela Blasts Trump After Central Bank Assets Quietly Transferred to Guaido’s Fed Account

Mathew Seligman lost his fight against COVID-19. He had played bass for Morrissey, David Bowie, Sinhead O'Connor, Tori Amos, Chrissy Hynde, The Thomson Twins, The Soft Boys, and Robyn Hitchcock, amongst others. Outside of music he worked as a human rights lawyer.Robyn Hitchcock fondly remembers Seligman in his tribute, referring to him as “a joyous and funky bass player.” Hitchcock continued: “He made Underwater Moonlight an exuberant LP to record and listen to. His manic bass run at the...

Will Marble writes: I’m a Ph.D. student in political science at Stanford. Along with colleagues from the Stanford medical school, law school, and elsewhere, we recently completed a white paper evaluating the evidence for and tradeoffs involved with shelter-in-place policies. To our knowledge, our paper contains the widest review of the relevant covid-19 research. It summarizes research from a number of fields, including epidemiology, economics, and political science. I just have a few...

Announcement from Fed here yesterday: They have been reducing the amount of these daily purchases from $75B per day back in March when they were crashing the whole thing (before Treasury increased their rate of UST issuance)...  then down to $60B/day... then $50/day .... and last week's $30B/day... and now next week $15B/day...Last week the Treasury was doing "pop up" issues of Cash Management Bills (CMBs) in equal amount per day that was the Fed's policy of  the $30B/day: We can watch...

 Paris: France said on Friday there was no evidence so far of a link between the new coronavirus and the work of the P4 research laboratory in the Chinese city of Wuhan, where the current pandemic started. France contradicts US on coronavirus link to Wuhan research lab

Yeah morons don't want to "waste money!"...Senator calls for Justice Department to investigate IRS sending stimulus checks to dead people https://t.co/Ip6NYCUBlJ— John Solomon (@jsolomonReports) April 18, 2020

MMT in the headlines again. The last mile is pretty much closed.The GuardianCoronavirus has destroyed the myth of the deficit L. Randall Wray, Professor of Economics, Bard College, and Yeva Nersisyan, Associate Professor of economics at Franklin and Marshall College

This one is getting passed around on the socials today...  somewhat good news...Our Santa Clara seroprevalence study: infection is 50-85 times more common than documented caseshttps://t.co/utCudWjUA7— METRICStanford (@METRICStanford) April 17, 2020

YOu will hear this from the news media in about a week or so. The deficit is now $1.1T. That's a good thing, but it needs to go higher and it will. 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/