January 2014 Payroll Employment
We are getting closer to the previous peak.
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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No, I’m not talking about Piketty hitting the Times bestseller list. And it’s not just wild-eyed lefty Frenchman who are expressing concern about the state of world capital these days. Mitt Romney’s shop was beating this drum loudly more than a year ago.
One of the central takeaways from Piketty’s Capital in ...
“There is no right more basic in our democracy than the right to participate in electing our political leaders.” That’s how Roberts began the opinion.
So I guess we can now assume that the Court will strike down all those voter-ID laws that so clearly impact that most basic ...
In case anyone is interested, I put together a lot of stuff I have been doing with inflation expectations into a soft of manuscript here (warning 19 poorly written pages)
Inflation expectations are not anchored. A simple regression model fits both the median Livingston Survey respondent’s expected CPI inflation ...
David Zetland at Aguanomics mentions a very local proposition by yours truly as part of a question posed on UN world water day March 22. Purely anecdotal and personal, but I found people willing to chart water use but not to go downstairs and turn off the ...
Mike Konczal explains that Ted Cruz’s claim that the current situation is similar to the 70s is utterly insane. However, he concedes too much to Republican myth makers. He wrote
“in the 1970s there was a bipartisan effort to deregulate markets ranging from transportation to finance to energy, ...
Of course Carter’s approach to dealing with energy did not consist only with eliminating the insane regulation keeping US crude oil prices below world crude oil prices. Totally aside from (and opposite too) freeing the market, he also subsidized potential new sources of energy. As I recalled correctly, ...
Last week, the Senate Press Gallery denied SCOTUSblog’s application for a press pass, and advised us that it would refuse to renew the credential it had previously granted Lyle when it expires next month. We were disappointed in that decision, and we are grateful for the support that we ...
As unemployment declines and the labor market tightens up, many expect wages to rise. Then as wages rise, inflation has a chance to perk up again. But I want to show a graph that I will be watching in order to determine if inflation will truly respond to rising labor ...