Economics Roundtable
Graph-of-the-Year Candidates
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.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
Remember M1?
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?
Click on the chart for a larger version.
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EclectEcon
"Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities—A View from/of the Econochasm”
Regular EclectEcon reader, Kevin, sent me this link about the changing wage structure in Cuba.
Cuba is to abolish its system of equal pay for all and allow workers and managers to earn performance bonuses, a senior official has announced. [emphasis in the original as a sub-headline]
Suppose they have $2 million in Treasury Bills. If the gubmnt provides them with a monthly allowance to cover their rent, people do not seem to object ...
Yes, I take about ten different placebos each morning... a multiple vitamin, vitamin C, Vitamin D, ... etc.
Now I can take a real placebo each morning [h/t to Brian Ferguson]:Over-the-Counter ...
The most ironic thing about the bill is its provisions for both massive ...
In March of this year, Ed Leamer predicted that the US would narrowly avoid a recession [link via Newmark's Door, still my first read each day]. This forecast clearly reflects updated information, given his discussion over two years earlier, in which he expressed dismay about the US ...
The history of ...
Ironman, at Political Calculations, presents a graph showing,
In simpler words, we confirm that individual Americans are not
consuming an ever-increasing amount of oil. We can therefore eliminate
increased U.S. consumption of petroleum-based products as a significant
contributor to the recent spike in the world price of oil.... As we ...