Technical Problems 1/21/15
The website was down for a day and a half, but is back up now.
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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Carpe Diem (Mark J. Perry)
"Mark J. Perry’s Blog for Economics and Finance”
Today, March 4 (“March Forth”) is National Grammar Day. In past years, the National Grammar Day organization promoted the annual date as follows: “Language is something to be celebrated, and March 4 is the perfect day to do it. It’s not only a ...
1. Chart of the Day I – the Global Stock Market Rally. The Morgan Stanley Capital International world stock market index is up by 7.3% over the last year, and has been hovering in record-high territory over the last week. As I
In a January 2014 report titled “Rape and Sexual Assault: A Renewed Call to Action” (which led to the creation of the “Task Force to Protect Students from Sexual Assault” headed by Vice-President Joe Biden), the White House made the following two claims:
The Energy Information Administration (EIA) released new state crude oil production data last week for the month of December, and one of the highlights of that monthly report is that oil output in America’s No. ...
Don Boudreaux posted recently at Cafe Hayek about the first episode of “The Price is Right” in September of 1972 (watch full episode below). In that first episode, one of the prizes was a 1972 Chevy Vega (pictured above), which sold ...
….is from French economist Frederic Bastiat:
Legal plunder [known today as “crony capitalism”] can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right ...
1. Chart of the Day. Thanks to globalization and trade, clothing is an amazing bargain for US consumers. While consumer prices have increased more than 64% on average over the last several decades since 1993 (and average wages by 90%), the CPI for ...
One of the most important economic messages of French economist Frederic Bastiast was this one:
Treat all economic questions from the viewpoint of the consumer, for the interests of the consumer are the interests of the human race.
Let me channel Bastiast and speak for the hundreds of millions of disorganized US ...
Most of the discussions on income inequality, the reviled “top 1%,” and the hand-wringing about the share of income or wealth going to the “top 1%” typically assume that the top 1/5/10% and bottom 99/95/90% ...
1. Chart of the Day. According to new data released today by the CPB Netherlands Bureau for Economic Analysis, world trade and world industrial production both reached new record high levels in December 2014. Compared to a year earlier, world trade in ...