Mike Norman Economics

Corrective to George Soros's recent op-ed. I, too, would agree with old China hand Vogel rather than side with Soros, who is talking his ideological book.Andrew Batson's BlogVogel vs. Soros on Xi vs. DengAndrew

Mortgage rates down a bit this week too….30-year, 20-year mortgage rates open week with tempting dips | August 16, 2021 | Fox Business https://t.co/7LuZryYV5i— Deficit Moron (@i_deficit_moron) August 19, 2021

They were holding the short end at the overnight rate they are paying on RRP at 0.05% .. but last few days this broke and now the 1 month is under that at 0.03%….Inverted/negative rates have to be the Fed’s worst nightmare…

 Another backgrounder from Pepe. A look behind the scenes. Given the facts at hand, I had assumed that something like this was in the works for some time, and Pepe provides the details. The US and NATO were outmaneuvered.The Vineyard of the SakerHow Russia-China are stage-managing the TalibanPepe EscobarSee alsoMoon of AlabamaAfghanistan - What Will Happen Next? A Provisional Government And A New Constitution.

Most mean social democracy (rather than democratic socialism) in place of neoliberalism?A new Fox News poll showed that more Democrats favor socialism over capitalism, in a sharp reversal from just a year and a half ago.The poll, taken between Aug. 7-10, showed that 59% of registered Democratic voters who participated had a positive view of socialism, compared to just 49% who felt that way about capitalism.In February 2020, when the question was last asked, 50% of Democrats who participated...

Actually, no. Fiscal support is the strongest since April. Buy the dip.

 Progressives will never dominate English politics without confronting Churchillism.The British Empire has his a big effect on the English psyche, where people see its 'greatness' as something to be very proud of and highly esteemed. The  Scottish and Welsh on the other hand were victims of the British Empire and so have less affinity for it. The English people see Conservative politicians as being very business-like the best people who will look out for  British interests - Britian...

Steve Keen shows how private debt, not public debt, causes many of our financial problems, in fact, government debt can help mitigate the worst of looming financial crisis that may be coming due to Covid, but sadly, he says, governments are more likely to do nothing about private debt, while cutting public expenditure, which will make the financial crisis even worse.  Is the financial system acting in favour of society’s needs?Far from it! As Marx once put it, the finance sector is a good...

In this case geographical diversity.Dani Rodrik has brought to our attention a rather serious problem within the economics profession: it is still dominated by people living and working in the West. As a consequence it has a decided bias towards issues that are of significant interest to the West.This is, of course, not news to any of you not living in the West. Nor is it news to anyone outside the profession paying attention to the product of the journals and various other outlets. The...

In May 2003, the late Princeton health economist Ewe Reinhardt and colleagues published a frequently-cited paper titled “It’s the Prices, Stupid: Why the United States is So Different From Other Countries”. This paper evaluated the reasons that the United States had more than double the median per capita health care spending of other OECD countries, at $4,631 compared to $1,983 in 2000. The authors found that the United States had higher use of some high-tech diagnostic/treatment services...