Economics Roundtable

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 .

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.


The Economics Roundtable is sponsored by EconModel.

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

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Angry Economist (Russell Nelson)

"Austrian economics in tiny little sentences”

September 19, 2016, 12:04 am, 1675447

Sigh. From time to time, leftists get up on their high horse, and think that they can come up with a single objection to freedom which completely smashes all arguments. Today's version of that objection may be found on elementropy, where it goes:

another question unanswerable by neoliberal ...

September 19, 2016, 12:04 am, 1675444

The best thing we can do about terrorism is: nothing. It's not that terrorists don't create harm. It's that terrorism is not about the harm; it's about the fear. We kill, each month, more people in automobiles than were killed by terrorists on 9/11. But that's not ...

September 19, 2016, 12:04 am, 1675445

I could forgive them groping me if they would just acknowledge that nobody will ever succeed in hijacking an airplane, and allow anything which cannot harm the whole airplane itself. Enough with keeping bladed weapons off airplanes, including those hellish nail clippers. You couldn't even commit suicide ...

September 19, 2016, 12:04 am, 1675446

There are two kinds of poverty: relative poverty and absolute poverty. One could define the latter as lacking certain qualities of life; for example access to a minimum of 1600 calories per day, shelter to keep you warm and dry, and clean clothing appropriate for your climate ...

September 19, 2016, 12:04 am, 1675443

Okay, this kinda of crap makes me angry, just angry. Go read the article. Do you see what's wrong with it? I see no distinction between legal prostitution and illegal prostitution. Now let's look at the difference between legal and illegal drugs. The first you can ...

September 19, 2016, 12:04 am, 1675441

War?? Again?? By a Nobel Prize Winner?? I'm simply aghast. Yes, there are problems in the world, but they're not our responsibility to fix. Not when we're broke, going broker, and have a slim chance of not being broke for the next twenty years. What ARE these ...

September 19, 2016, 12:04 am, 1675438

It's absurd to say that a minimum wage doesn't cause unemployment. ABSURD. Do you, does anyone, buy the same amount of something when the price goes up? Oh, maybe you ignore a price increase of a percent or two. What do you do when the price doubles? ...

September 19, 2016, 12:04 am, 1675439

Yay! The minimum wage is going up in many states! Now employers won't have to pay a premium to get desirable workers, and they can dismiss the undesirable workers at no cost to themselves!

You see, every worker is desirable to one extent to another. Some workers are ...

September 19, 2016, 12:04 am, 1675440

People are bringing up the point that people simply don't shop for health care. That we're not consumers. Usually that people are non-economists, like some ER doc who thinks that he had to study for 8 years to become a doc, but that economists are just people ...

September 19, 2016, 12:04 am, 1675442

Damn immigrants! They should go back to Bakersfield, where they came from!