Mike Norman Economics

Difficult to estimate now how this pandemic will change education other than to say some effects are highly likely. The digital revolution is now here of necessity and necessity is the mother of invention. Not only higher education is being effected but also primary and secondary. In addition, many are working at home for the first time. The obvious benefit is reduced transaction costs and less need for resources directed to physical plant, transportation, etc. So some change is...

However, the furor over the mistreatment of Dr. Lin did largely manage to skip over the question of how TeamHealth [owned by Blackstone] is even legally in the position to effectively provide hospital services when they are not licensed to do so. Several groups protested Dr. Lin’s ouster and one, the American Academy of Emergency Medicine, focused squarely on this issue. Similar to insurance companies approving and denying care prescribed by physicians. Screwing with provision is one thing...

The buzz-word at the moment in Australian government and policy circles is ‘hibernation’ – the government is hoping, that the economy can behave like a crocodile and find some ‘river bank’ and have a ‘good sleep’ until the pandemic is over, at which time, it will burst forth into a new growth phase and unless the virus mutates into something worse in the meantime then all will be well. Their policy interventions to date – while they have been like dragging a chain as their conservative...

I thought this interview with Chomsky really hit the button. It's pretty chilling.The coronavirus crisis is revealing that the powers that be of the European Union have learned nothing from the Eurocrisis.  They are currently betraying the interests of the majority of Europeans in the same way that they have done so in 2010 -- by failing to mobilize existing money and public financial instruments in the interests of the many. With their current decisions, they are jeopardizing public health,...

Trump would have to make a strategic offer that Russia could not resist to get some cooperation on oil prices.…But what strategic offer could Trump make that would move Putin to agree to some new deal?... And what reason has Russia to believe that Trump or his successor would stick to any deal? As the U.S. is non-agreement-capable it has none. The outcome of the phone call will therefore likely be nothing.... Moon of AlabamaTrump, Putin Will Discuss The End Of U.S. Shale Oil See also...

More of the crazy.Mint Press NewsBiden’s Foreign Policy Teams Hints at War with China, Conflict with RussiaAlan Macleod

Bitcoin struggling to remain relevant?Bitcoin ExchangeModern Monetary Theory (MMT) vs BTC to be the Main Event of 2020 AnTy

Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismRadical imagination and the intellectual edificeJim Vrettos interviews Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and Guest Professor at Peking University

I'm here in NYC. Epicenter of the coronavirus epidemic. Hard to stay focused but here's my outlook. Get a 30-day free trial to MMT Trader. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/

My base case view matches what is priced into the markets: the crude oil market is glutted and demand is falling off a cliff. Storage constraints are in sight, and I am not seeing an immediate catalyst for a demand rebound. The nearly inevitable outcome is that drilling drops dead, and capacity is shuttered. At some point, one will be able to take the chart of U.S. crude liquid products (conventional oil plus the products of fracking), stick a red line through the maximum value, and all...