Mike Norman Economics

Epidemiologist Larry Brilliant, who warned of pandemic in 2006, says we can beat the novel coronavirus—but first, we need lots more testing. Worth watching.WiredThe Doctor Who Helped Defeat Smallpox Explains What's Coming

Not good.... Thats another $300B this week non-Risk assets they are going to add to banks ... and so far no fiscal response from Treasury to create new issues... who are they buying them from?.. risk asset prices going down...New York Federal Reserve to buy around USD75bn of Treasuries on Tue, Wed, Thurs, Fri https://t.co/AcqIAaPz8L— ForexLive (@ForexLive) March 23, 2020

Hidden in last Thursday’s announcement from the Bank of England that it intends to buy another £200bn-worth of mostly government bonds was this line:The MPC will keep under review the case for participating in the primary market.It might sound like dull techno-speak, but the mere possibility of the Old Lady of Threadneedle Street buying bonds directly from the government (i.e., in the primary market) is a big deal. Since gaining independence, central banks have liked to see themselves as...

The Coronavirus Crisis has caused economic havoc. In this article, Warren Mosler and Dirk Ehnts discuss policy proposals that are informed by Modern Monetary Theory (MMT). Brave New EuropeDirk Ehnts, Warren Mosler – A Euro Zone Proposal for Fighting the Economic Consequences of the Coronavirus CrisisWarren's draft proposal for the US from his Twitter feed:

Peter Bofinger argues MMT provides intellectual justification for a ‘whatever it takes’ fiscal response to potentially the biggest global postwar economic challenge.... Social EuropeCoronavirus crisis: now is the hour of Modern Monetary TheoryPeter Bofinger | professor of economics at Würzburg University and a former member of the German Council of Economic Experts

Rep. Rashida Tlaib has proposed sending everyone in the United States $2,000 immediately and then $1,000 per month to counter the economic fallout of the coronavirus pandemic.The Michigan Democrat's plan would be financed by having the Federal Reserve create new money on behalf of the Treasury. To skirt the federal debt limit, the U.S. Mint would create two $1 trillion coins, and the Treasury would deposit them in its account at the Fed. Tlaib, a member of the small group of left-wing...

If the economy is to be saved before the pandemic wipes it out, it will happen on the public-health front. And here, the least important medically• of the three major biomedical channels now in play may well be the one that could impede economic Armageddon.... • General testing is important medically in developing herd immunity longterm. It is of immediate use economically in determine who can work.As I was driving through Albuquerque this weekend, I saw a billboard advertising free...

The US government should pull out all the stops in mitigating the economic fallout from COVID-19, not just by disbursing cash to all households, but also by implementing a federal job guarantee and many other long-overdue policies. After all, for a self-financing government, money is no object. Project SyndicateWhat Would Roosevelt Do? Pavlina Tcherneva | Assistant Professor of Economics at Bard College, Research Scholar at The Levy Economics Institute, and Senior Research Associate at the...

Now that toilet paper has become an asset in addition to a commodity.... ?Dances with BearsWAR ON THE TOILET PAPER FRONT — RUSSIA’S TISSUE BATTLES SWEDES, TURKS, AMERICANSJohn Helmer

My thoughts on the markets, Fed and other things while on lockdown here in NYC. https://www.pitbulleconomics.com/mmt-trader/?s2-ssl=yes/