Mike Norman Economics

Forget about that crash the media was forecasting.SputnikChina's GDP Growth to Decline to 2.3% in Baseline Scenario in 2020 - World Bank also Bounceback? China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak. Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March, from a record low of 35.7 a month earlier. CNBCChina says manufacturing activity...

China ready to fire back in the trade war? "The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board," Chairman Eric Xu told reporters at the launch of Huawei's annual report. "Why wouldn't the Chinese government ban the use of 5G chips or 5G chip-powered base stations, smartphones and other smart devices provided by American companies, for cybersecurity reasons?" Hmm. The chairman of Huawei may not speak for the Chinese government, but it is...

It ain't pretty. I think he is trying to drive out complacency.I've been debating with some climate change deniers for 3 weeks, but they are also Covid-19 deniers too. They say it's nothing. [embedded content]

Bill McBride is an analyst worth listening to on the economy even though he specializes in real estate. He doesn't have an axe to grind. He doesn't see a fast snapback.Best line: (Note: This was NOT a "stimulus" package, this was disaster relief). Calculated RiskThe Economic OutlookBill McBride

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