Mike Norman Economics

 Live right now - Pepe Escobar[embedded content]

Today (August 19, 2021), the Australian Bureau of Statistics put out the latest – Labour Force, Australia – for July 2021. The background is that the entire East Coast is in or has been in lockdown over the last few months and for the two largest labour markets (NSW and Victoria) that lockdown has been very tight, although not tight enough in NSW. The July 2021 data reveals that employment growth has come to a stop, although the negative impacts of the lockdowns are mainly showing up as...

The Taliban have been handed a huge financial and geopolitical edge in relations with the world's biggest powers as the militant group seizes control of Afghanistan for a second time.In 2010, a report by US military experts and geologists estimated that Afghanistan, one of the world's poorest countries, was sitting on nearly $1 trillion (€850 billion) in mineral wealth, thanks to huge iron, copper, lithium, cobalt and rare-earth deposits.In the subsequent decade, most of those resources...

Absolutely bonkers!  I said, “I am going to treat you with, remdesivir,....... “Not nearly as many doses of remdesivir have been given or studied in people and its long-term side effects are still unknown,” I said. “Do you still want me to give it to you?”“Yes” he responded, “Whatever it takes to save my life.”It did not work.My patient died nine days later from a fatal stroke. We, the care team, reconciled this loss by telling ourselves: He made a personal choice not to get vaccinated, not...

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.