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”
Thanks to America’s abundance of shale hydrocarbons, which have just recently been made accessible with revolutionary drilling and extraction technologies, the country’s production of natural gas reached ...
…. is from Dennis Prager’s op-ed in today’s Investor Business Daily:
The left dismisses virtually all Western achievements, but regards criticism of anything non-Western as racist, chauvinistic, imperialist, colonialist, xenophobic, etc. That is why the left is so protective of Islam.
America’s left-wing president, Barack Obama, will not use, and does ...
It’s time for another Carpe Diem quiz. Test your knowledge of recent economic news and data, most of which has been featured in recent CD posts, with this new ...
From Brad Plummer at Vox, “This is an incredible visualization of the world’s shipping routes“:
About 11 billion tons of stuff gets carried around the world every year by large ships. Clothes, flat-screen TVs, grain, cars, oil — transporting these goods ...
I wrote earlier this month on CD about one of the potentially fatal flaws of California’s recently enacted $15 an hour statewide ...
Some excerpts from a fascinating article in Tech Crunch by Adriana Stan titled “The Future is the Trust Economy“:
1. Trust as the Most-Valued Currency.
As we get into cars with complete strangers, sleep in the beds of people we’ve never met and lend money to others on the other side ...
According to data released recently by the Energy Information Administration (EIA), CO2 emissions from America’s electric power sector have dropped by more than 21% since 2007, ...
Globally, Jews represent less than 0.20% of the world’s population, but they have won 170 Nobel Prizes in total and the following shares of individual Nobel prizes:
Economics: 41% (more than 205 times their share of the population)
Medicine: 28% (more than 140 times their share of the population)
Physics: 26% (more ...
Tomorrow is Earth Day and to recognize that annual environmental holy day, I recommend reading the classic 1996 New York Times Magazine article titled “Recycling is Garbage” by New York Times science columnist John Tierney, especially if you’re one of the millions of Americans who suffer from “garbage guilt” ...