Mike Norman Economics

Common Dreams ‘This Is a Massive Scandal’: Trump FDA Grants Drug Company Exclusive Claim on Promising Coronavirus Drug Julia Conley, staff writer Antonio Fatas on the Global EconomyCOVID-Economics Links (March 25)BruegelCoronavirus and the politics of a common fiscal instrument Mark Hallerberg and Stavros Zenios econintersect.comWhy Did President Trump Call Coronavirus "Chinese Virus"? Frank Li | Chinese ex-pat, Founder and President of W.E.I. (West-East International), a Chicago-based...

Germany has been the epicenter of the austerity crazy. But the only final solution is to get free of the euro straight jacket. The dollar works in a currency union of sovereign states in the US because the union is string socially, politically and economically.  Those condition don't apply in Europe, and the US had to go through a bloody civil war on this way to it. The notion that a common market with a common currency and open borders has failed and failed so badly that nationalism in...

Based on the experiences of other countries, it appears the number of cases per day (and deaths per day) will peak about 2 to 3 weeks after well observed shelter-in-place orders are issued (some areas are reporting less than 2 weeks - that would be great). In some areas of the United States, shelter-in-place orders were issued a week or more ago. In some states and communities, orders have still not been issued. Based on the experience in China, it appears the recovery can start in about...

A close parallel to this situation was the state of Third World debt in the mid-1980s. Mexico’s announcement that it could not meet its foreign debt service was the shock that brought ugly financial reality into conflict with the assumption that somehow any government debt could be paid – even debts denominated in a foreign currency. The international financial system was rescued by the issue of Brady bonds – “good” new bonds for old “bad” ones. The capital value of these bonds was still...

Today is Wednesday which means it is my short blog post day. I have been travelling a lot today. By the way, there are still some things which cannot be attended to via the Internet, Zoom or otherwise. As I continue to calculate various things along the way to my 10-point or something plan which I hope to have final by next Monday. But with limited time today as I dodge and weave to avoid the virus, I have been reading a lot of the research literature about modelling epidemics. It is quite...

Well who is the Fed buying their new govt bonds from then?  Fed buying $15B per week since mid September and another $700B in the current two week period...

New StatesmanHow America built the best pandemic response system in history – and threw it awayWill Dunn Alt-M That darn coin George Selgin Yahoo FinanceOur Money: MMT for State and Local Governments During COVID-19 Crisis OilpriceWhat Happens If U.S. Shale Goes Bust? Haley Zaremba Brave New WorldHeiner Flassbeck – Corona Shock Paul Cockshott's BlogGuest Post: China defeats Coronavirus in 60 days. Builds global Sanitary Silk Road. Washington and Brussels in Chaos. What will happen...

Fed allegedly going to buy corporate bonds to "help" this situation: Amidst everything else I’d missed that the Fed is going to buy corp bond ETFs https://t.co/G8rpFDY4bF — Tom Powdrill (@TomPowdrill) March 24, 2020 Article says: The central bank is only buying investment grade corporate bonds, not high-yield bonds. Only problem is S&P is downgrading all the big firms being effected all week: BREAKING: Delta Air Lines credit rating cut to junk by S&P. pic.twitter.com/4117hGI1sy —...

Won't work here either... still going to be moron conspiracy nutters out there...Pentagon starting ‘Mythbusters’ page to debunk false rumors of martial law https://t.co/w3F5XCRTxx— John Solomon (@jsolomonReports) March 25, 2020

No physical gold around. Futures prices appear to be too low. 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/