May 2014 Payroll Employment
After 76 months, we finally got back to the prerecession level of payroll employment.
Click on the image to get a bigger version.
The best summary of the state of our economy is the graph (below) of employment as a fraction of population for people over 16 years old. The decrease is large, but the most troubling feature of the graph is the flat trend .
Donald Marron likes European interest rates. Click on the image to get a bigger version. Can you find three distinct subperiods?
Brad DeLong favors the U.S. gdp gap.
Money Supply M1 growth is now over 20% per year over a 12 month lag. M1 growth has touched 20% before, but not with excess reserves of $1.6 trillion. Where is M1 headed?
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Rossputin (Ross Kaminsky)
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“There is nothing more painful to me at this stage in my life than to walk down the street and hear footsteps and start thinking about robbery — then look around and see somebody white and feel relieved.” — Jesse Jackson
The inventors of a new iPhone (and soon ...
A Denver Post guest op-ed argued for giving asylum to children crossing illegally into the US right now. I disagree, and sent the Post a rebuttal, which they printed here:
As the suicide of Robin Williams — one of the few self-inflicted deaths of a public figure which truly saddened me; the man made me laugh since my teenage years — grabs the headlines, Ferguson, Missouri is literally and figuratively on fire.
On Saturday in ...
In yet another uninspiring performance by our unengaged and unengaging president, this time a press conference at the end of a three-day U.S.-Africa Leaders Summit in Washington, D.C., Barack Obama discussed, among other things, the ceasefire between Israel and Hamas which, according to The One, “we” have ...
The bodies of three young men, assumed to be the two Israeli and one Israeli-American yeshiva (religious high school) students kidnapped on June 12th, have been found "under a pile of rocks in an open field" between two towns in the West Bank, according to NY Times reporting. ...
Conservative and liberal media alike were all atwitter with Thursday’s midday news that the House of Representatives was going on its summer recess without passing a border-related bill because Republicans did not have the votes to pass it. The left was particularly pleased in the apparent inability of the ...
Former Chief of Staff for the congressional Joint Committee on Taxation (JCT), Edward Kleinbard, writing in the Wall Street Journal, argues that “tax inversions must be stopped now.”
Kleinbard may understand taxes but like so many on the left has a weak grasp on economics and ...
It’s too soon for champagne, but perhaps a beer is in order.
In a 2-1 decision in the case of Halbig v. Burwell, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit has ruled that the Internal Revenue Service cannot interpret the Affordable Care ...
To all my readers and friends who are in or near Denver:
Please join me on Wednesday, July 30 at the Denver Press Club on July 30th at 6:00 where I will be guest bartending. The Denver Press Club is located at 1330 Glenarm Place, directly across the ...
Hundreds of Central American children held at an American Air Force base remind us of the humanitarian crisis at our southern border. Another thousand future illegal immigrants riding atop a Mexican "death train," anticipating their permisos en los Estados Unidos, remind us of the lawless policy that is causing this ...