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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.…. are from John Holland, who was a Professor of Psychology and of Electrical Engineering and Computer Science at the University of Michigan, and one of the founders of the innovative interdisciplinary field of Complex Systems.
1. From page 1 in his book Hidden Order: How Adaptation Builds Complexity (emphasis added):
The computer package displayed above (computer, monitor, keyboard and printer) sold at Best Buy in 1994 for $1,998, as featured in its weekly flyer and ...
…. is from Thomas Sowell’s latest column “Commencement Season“:
Two themes seem to dominate Commencement speeches. One is shameless self-advertising by people in government, or in related organizations supported by the taxpayers or donors, saying how nobler it is to be in “public service” than working in business or other ...
…. is from Edward Whelan, writing in the May 23 issue of National Review (my emphasis):
In other words, it is the advocates of transgender access to bathrooms and showers who, under the guise of their nondiscrimination rhetoric, are in fact ...
This post was inspired by this quotation below from Murray Rothbard (from his 1988 article “Outlawing Jobs: The Minimum Wage” featured on CD here in 2013), which made ...
Christopher Ingraham wrote this on the WaPo’s Wonkblog last November 23 in his article “Law enforcement took more stuff from people than burglars did last year“: