Economics Roundtable

Technical Problems 1/21/15

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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.


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 .


Click on the image to get a bigger version.


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?


Click on the chart for a larger version.


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Carpe Diem (Mark J. Perry)

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


January 30, 2015, 1:33 am, 1412928

1. Chart of the Day I. The EIA reported yesterday that US oil production increased last week to 9.21 million barrels per day, the highest level of domestic crude oil production since October 1973, more than 41 years ago. Peak what?


January 26, 2015, 9:33 pm, 1410351

In his 1944 book “Bureaucracy,” legendary economist Ludwig Von Mises explained the important and supreme role of the ruthless consumer in the market economy (emphasis added):

The real bosses, in the capitalist system of market economy, are the consumers. They, by their buying and by their abstention from buying, ...


January 23, 2015, 7:33 pm, 1409104

The Texas Workforce Commission released state employment data today for the month of December, and job growth in the Lone Star State continues to lead, and in fact carry the nation’s improving labor market as the chart above show. Here are some ...


January 23, 2015, 1:33 pm, 1408882

When government agencies or heavily regulated industries are insulated from market competition, the incentives to offer better service and lower prices, along with the incentives to innovate, upgrade and improve are either significantly weakened or non-existent. But when faced unexpectedly with some market competition, it’s amazing how the normally sclerotic, ...


January 22, 2015, 9:33 pm, 1408438
   10 Largest US Manufacturing Companies, 2014Revenue (Millions)Industry1Exxon Mobil Corp.$424,328Petroleum, Coal Products2Chevron Corp.$221,321Petroleum, Coal Products3Phillips 66$171,736Petroleum, Coal Products4Apple Inc.$170,910Computers, Electronic Products5General Motors Co.$155,427Motor Vehicles6Ford Motor Co.$146,917Motor Vehicles7General Electric Co.$146,045Electrical Equipment, Appliances8Valero Energy Corp.$138,074Petroleum, Coal ...


January 22, 2015, 1:33 pm, 1408178

1. Don Boudreaux to President Obama: “Because the $10.10 per hour minimum wage would price many workers out of jobs, that policy would indeed change these workers’ incomes: it would drop them to $0. So I say this: If you truly believe you could be unemployed full-time and support a ...


January 21, 2015, 5:33 pm, 1407592

ProductCost Per GallonHP Printer Ink$4,500Nyquil$107.52Premium Vodka$76.80Honey$46.72Hair Gel$44.80Pancake Syrup$32.26Red Bull$28.00Windex$23.81Real Lemon Juice$22.91Soy Sauce$22.66Chicken Noodle Soup$21.25Mouthwash$19.65Tide Laundry Detergent$18.18Dawn Dish Detergent$17.92Craft Beer$17.78Mustard$17.41Mayonnaise$17.02409 Cleaner$16.64Ranch Dressing$16.00Half and Half Cream$15.87Shampoo$15.36Spaghetti Sauce$14.59Ketchup$13.95Vegetable Oil$13.44Orange ...


January 21, 2015, 10:20 am, 1407304
… is from Thomas Sowell writing in 2012:

With all the talk about “disparities” in innumerable contexts, there is one very important disparity that gets remarkably little attention — disparities in the ability to create wealth. People who are preoccupied, or even obsessed, with disparities in income are seldom interested ...


January 19, 2015, 5:33 pm, 1406858

1. Chart of the Day. Oil output in North Dakota has flattened out in the last few months, but still set new record production highs in November for both the Bakken oil fields (1.12 million barrels per day) and statewide (1.87 million barrels ...


January 16, 2015, 7:33 pm, 1406067

I’ve argued many times before on CD that when it comes to regulation of markets, businesses or industries, it’s never a choice between: a) government regulation and b) no regulation. Rather it’s a choice between: a) government regulation and b) regulation by arguably the most ruthless, meticulous and conscientious group ...