Mike Norman Economics

Has anyone noticed how suddenly quiet have become the hexa-billionaires who only months  ago were "pledging" to give away 90% (or was it 99%?) of their assets?

I'm not happy with Boris!A slower infection rate would have given the country a better chance to cope with Covid-19. The shelves in the shops were empty yesterday, stripped bear, but the shops are rationing now, so it should be better. [embedded content]

Universal Basic Income is a controversial and relatively untested idea but is among the options being considered by the Government My hunch is that they won't go for it, but there's plenty of money in the tax havens, and a massive crash is in no one's interest, including the wealthy.  Boris Johnson said a temporary universal basic income was one of several measures under consideration to help workers left in dire financial situations by the coronavirus crisis.  Universal basic...

Russia all-powerful, conquering world without firing a shot. The must know something no one else does. (snark) Scapegoat much?SouthFrontFinally! EU Blames ‘Kremlin Disinformation’ For Coronavirus Crisis

Tom is packing up to return from Phoenix to Iowa City so sporadic posting from me for a while. It's getting pretty crazy these days anyway. "Animal spirits."Stay safe.

The order applies to all foreign citizens (including citizens of Belarus) and stateless persons.Also, the Ministry of Internal Affairs of the Russian Federation will temporarily not issue: invitations to enter the Russian Federation permits to hire and use foreign workers work permits for foreigners... The Russian Federation had already closed the border with China. So far, the Russian Federation has escaped the pandemic. AwaraDue to coronavirus, foreigners are restricted from entering...

Warning: This is a rant. But it is a pretty good one.Caitlin Johnstone — Rogue JournalistThe Official Bad Guy Of The Day: Notes From The Edge Of The Narrative MatrixCaitlin Johnstone

They are doing this again, same as last time at QE2.... Mike explained it here 10 years ago here....Why are they doing this?  To lower rates?  Yo rates are GOING UP.... To provide Reserves that banks can “lend out”?  Yo you are reifying accounting abstractions idiots...Here’s Mike FROM 10 YEARS AGO you morons: The Fed is buying "scale down" and in effect, causing the selloff. They're doing this because they're fixated on quantity ($600 bln) as opposed to price (interest rate). I remember...

If there were no chance of growing ourselves out of these dire circumstances, one would not produce documentaries, write columns, or get out of bed in the morning. But we must grasp and address four essential truths if we are to do any of this growing.... Consortium NewsThe National Emergency Patrick Lawrence

The increased flow of information about the coronavirus means that we can think about scenario analysis. This, as well policy actions, are probably explaining the pause in the bear market for risk assets. I want to outline what I see as important about looking at potential scenarios for the economy. I will try to keep this as brief as possible, since I am not advancing any particular scenario as a forecast.... Bond EconomicsOn Pandemic Economic Scenario AnalysisBrian Romanchuk