Why the Great Labor Arbitrage is Coming to an End…
Needless to say, with Chinese wages and costs rising rapidly and the arbitrage gap nearly closed, there is not a snowball’s chance in the hot place that the black line in the chart above will take another 40% dump lower. Not in a million years.
And that means, in turn, that the yawning gap in the above chart between goods deflation and services inflation will not recur. As it happens, the underlying services inflation is still in the +5% Y/Y range and will dominate the topline price level going forward far more heavily than it did during the aberrant era of 40% durables deflation.
Accordingly, the "lowflation" excuse for money printing is now deader than a doornail.
The fact is inflation isn’t and won’t be contained even at the Fed’s specious 2.00% target. And the last two decades have proved beyond a shadow of a doubt that aggressive money printing does not spur domestic investment and productivity, and therefore overall economic growth either.
https://internationalman.com/articles/david-stockman-on-why-the-great-labor-arbitrage-is-coming-to-an-end/
Anyone know what or who this Levi paper is that it references, I don’t disbelieve it but? Tried to look it up but didn’t come up with anything. Agree science is questionable & should be, but is this paper fact I wonder??? Anyone know????
The easiest way to tell if you are talking to someone who is intellectually honest about the COVID vaccines is to ask them for their assessment of the Levi paper.
If they claim, like UPenn Professor Jeffrey Morris does, that there is nothing to see here, then you are dealing with someone who is intellectual dishonest. The AI analysis of Morris’s attack on the Levi paper is absolutely devastating.
What the paper found
37% higher non-COVID mortality in people who got Pfizer.
That’s a train wreck.
There is no other way to spin this.
Possible explanations for the results:
The Pfizer/Moderna groups weren’t really matched
Moderna reduces non-COVID all-cause mortality by 37%
The problems:
They were matched. Barbra Dickerman wrote 2 papers on COVID vaccines and VA data showing that crude ...
