Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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Jobs

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 .


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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.


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?


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EconModel

The Economics Roundtable is sponsored by EconModel.

The Classic Economic Models cover micro, macro, and financial markets.


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Carpe Diem (Mark J. Perry)

"Mark J. Perry’s Blog for Economics and Finance”


July 23, 2014, 3:33 pm, 1303982

1. Video of the Day. Do girls fall behind in science and engineering because society tells them they should be pretty, rather than, “pretty brilliant?” That’s the message of a new Verizon ad campaign. But in the video above, Christina Sommers, the Factual Feminist, shows ...


July 23, 2014, 3:33 pm, 1303983

The monthly 10-year Breakeven Inflation Rate over the last ten years is displayed above and represents a market-based measure of expected inflation derived from the spread between 10-Year Treasury Constant Maturity Securities and 10-Year Treasury Inflation-Indexed Constant Maturity Securities as calculated ...


July 23, 2014, 3:33 pm, 1303984

The chart above helps to illustrate the significance of America’s shale oil and gas boom by showing the combined domestic output of US oil and gas (in quadrillion BTUs, EIA data here). After production of conventional oil and gas peaked ...


July 23, 2014, 3:33 pm, 1303985

…. is from Henry Grady Weaver’s 1947 book The Mainspring of Human Progress (in reference to material that originally appeared in Isabel Patterson’s book The God of the Machine):

Most of the major ills of the world have been caused by well-meaning people who ignored the principle of individual freedom, ...


July 23, 2014, 3:33 pm, 1303981

In the summer of 2006, as the citizens of Michigan were getting ready to vote that November on a ballot proposal that would decide whether publicly-funded Michigan universities could continue their admissions practices of racial double standards and affirmative discrimination, I wrote an op-ed about Proposal 2 that appeared in ...


July 23, 2014, 3:33 pm, 1303980

Last September, I wrote a post titled “Americans love to complain about rising food prices; here are three reasons they should stop whining.” In an article today in The Federalist, Sean Davis responds to my post in an article titled “American Families Are Right To Be ...


July 23, 2014, 3:33 pm, 1303977

Very cool, from the Detroit Free Press:

Check out these amazing Detroit then-and-now photos from DetroitUrbex.com. To see how the Motor City has changed over some of its 313 years, simply drag your mouse across the photos from left to right and watch Detroit transform before your eyes. To ...


July 23, 2014, 3:33 pm, 1303978

Related to my earlier post today on food inflation, the chart above shows that the share of consumption expenditures on food at home for Americans hasn’t changed in the last decade, as has remained remarkably constant at about 7.7%. ...


July 23, 2014, 3:33 pm, 1303979

Flint, Michigan native and ardent critic of capitalism Michael Moore is engaged in a bitter divorce battle with his wife of 21 years and details are now emerging about the couple’s ostentatious display of wealth. According to a report in today’s Detroit News:

Moore and [his wife] Kathy Glynn ...


July 23, 2014, 3:33 pm, 1303976

Updated: The chart above shows the percent changes between January 2000 and June 2014 for: a) Average Hourly Earnings (blue line), b) the CPI for Food and Beverages (red line) and c) the CPI for ...