Technical Problems 3/9/15
The website was down several hours today, 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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"Helping to Simplify Economics”
In the UK, CPI inflation has fallen to 0%. Is this a cause for celebration or a cause for concern?
Firstly the government set an inflation target of CPI 2% +/-1 for good reasons. ...
Despite high unemployment in the UK, there is a shortage of LGV drivers and it is estimated that the UK will need an extra 150,000 drivers by 2020.
Recently, the Euro has fallen from 1.5 Dollars to 1 Euro in 2011 to near parity in March 2015.
The fall in the value of the Euro has been very steep in ...
Readers Question on Debt and GDP
Readers Question: OK so the debt to GDP looks manageable when it is compared to the figure during the world wars but :Q1. how do ...
Reader’s Question: What will be the inflation rate in 2020?
Firstly, I can’t resist a few economics ‘jokes’“An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. “ “The First Law of Economists: For every ...
A look at why the Venezuela economy is dependent on oil, why it did not do more to diversify, and the problems of relying on a primary product like oil.
Readers Question: First, why are more than 90% of their exports based ...
A look at the nature of the UK economic recovery. Is the recovery sustainable? Who has benefited the most from recovery? Which groups of people have not benefited from the recovery?
In the past two years, the UK economy has posted relatively ...
The throw-away economy refers to the prevalence of consumer goods which only last for a short period of time. When they stop working / no longer relevant, we throw them away and replace them with new goods.
This is in contrast to ...
Readers Question: Endangered rain forests, wild fish, elephants and more are examples of the tragedy of the commons. What would economists recommend to save, rain forests or fish stocks?
Readers question: In all the media coverage of the UK deficit / debt / recovery, two aspects are rarely highlighted / quantified / contextualized.
1. The £50bn interest payments on the debt (opportunity cost / %)
2. UK productivity (output per head ...