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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"A Discussion on Credit and Bankruptcy”
Almost two weeks ago now, the Delaware Supreme Court handed down its decision over J.P. Morgan's mistaken termination statement in the ...
There are three major new regulations shaping the housing finance market: QM (qualified mortgage), QRM (qualified residential mortgage) and Reg X. QM is a safe harbor from the statutory ability-to-repay requirement that applies to all mortgages. QRM is a safe harbor from the statutory risk retention requirement that ...
Yves Smith has had some great coverage of the AIG bailout trail over on Naked Capitalism. While the litigation, as Yves has characterized it, is a bit like a brawl between the ugly stepsisters, it's telling us all kinds of stuff we didn't know (or at least couldn't ...
I was pleased to see today’s New York Times editorial entitled “A Rate Cap for All Consumer Loans.” It created a very public description of an industry indiscretion involving loaning money to the military at over 36%. Those loans are illegal because a federal law makes ...
When I first heard about the NY Fed's Doomsday book, my initial thought was, "Wow, they've got a comprehensive survey of land titles, so MERS really isn't an issue!" Then I realized it was a Doomsday book, not a Domesday book. Apparently the Doomsday book is ...
Bankruptcy filings have dipped to their lowest rate since 1990, as previously ...
That I still think the "safe harbors" as currenlty drafted are a bad thing?