Mike Norman Economics

GlaxoSmithKline has announced plans to collaborate with China’s Xiamen Innovex on a potential vaccine to treat the COVID-19 coronavirus.GSK to collaborate with Chinese biotech on COVID-19 vaccine

Market is buoyant and banking on a big fiscal boost, but none happening yet. Trade and invest using MMT. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

I immediately called one of my oldest friends in Kolkata, Tushar Roy, who is a chief manager for the Central Bank of India, one of India’s state-owed banks. He has worked as lead district manager for three years, coordinating among the central government, the West Bengal state government, and all the banks of the district, both private and state-owned, in setting up bank accounts for the unbanked. The holder of the account can access the DBT the government has made either through a branch,...

Prepping for the next round?FRBNY — Liberty Street EconomicsHow the Fed Managed the Treasury Yield Curve in the 1940sKenneth D. Garbade

Why do most economists do anything? Because most economists do it. It's a club. The fundamental assumption of conventional economics in a capitalist society is that prices equal value, that markets are the most effective and efficient means of creating and distributing economic value through price discovery, and that monetary incentives are necessary for innovation through competition. Using this framework, most economy believe that the natural operation and spontaneous ordering of...

You can wash your mask, in fact, it's best to because there isn't enough masks to go around. Dr Jo Barnes recommends water and bleach.The virus may be airborne in aerosol droplets for at least for an hour or so. I've read elsewhere that scientists are not certain about this yet.Wash fridge and door handles, she says, and soap is better than sanitizer for killing the virus.She says that a paper medical mask is better than a cloth one because it stays drier.Dr Jo Barnes, an epidemiologist and...

The uncertainty about the medical containment of the pandemic remains high, and forecasting at this point is largely an exercise in wild guesses. However, it seems likely that we will be in a environment of high unemployment even after a vaccine tames the virus. Modern Monetary Theory (MMT) will be highly relevant in that environment.... Must-read. Very comprehensive analysis of options and likely outcomes.Bond Economics Modern Monetary Theory After The Crisis (Part II) Brian Romanchuk

On April 3, 2020, the US Bureau of Labor Statistics (BLS) released their latest labour market data – Employment Situation Summary – March 2020 – which shows a deteriorating labour market situation due to the coronavirus crisis. However, as I explain below, the data released was drawn from samples that went up to March 12 (establishment survey) and March 14 (household survey), and so doesn’t fully capture the extent of the unfolding catastrophe. More recent data released by the US Department...

From now on, my online writing will be published on Substack. This is my full-time job now. Announcement to Readers — I'm Moving Matt Taibbi

LONDON – British Prime Minister Boris Johnson’s Covid-19 condition has become worse, and he was taken to the hospital, according to an official representative of the head of the British government. But RIA Novosti reports that they are preparing to connect Johnson to mechanical ventilation – all a very serious situation. According to RIA Novosti, Johnson was hospitalized urgently, he will undergo mechanical ventilation. MAJOR: Boris Johnson’s Covid-19 Condition Deteriorates – will undergo...