Economics Roundtable
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.
Finally, it's hard to argue against the payroll employment graph below (straight from FRED) and the comparison across recessions (courtesy of Calculated Risk).
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
Click on the chart for a larger version.
November Payroll Employment
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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Keith Hennessey
"Your guide to American economic policy”
A friend challenged me to respond to this chart and this post by Mr. Ezra Klein in the Washington Post:
Here ...
The President’s 2012 economic policy agenda emphasizes four policy challenges:
the loss of American manufacturing employment; America’s dependence on oil; America’s sub-par (my phrase) education and training; and increasing income inequality.Each of these trends began decades ago:
Our employment has been shifting from manufacturing to services ...
Kudos to the Washington Post’s Charles Lane for his column debunking the President’s recent false claim:
THE PRESIDENT: In exchange for help — see, keep in mind, that the administration before us, they had been writing some checks to the auto ...
Yesterday The New Yorker’s Ryan Lizza published an analysis of President Obama’s first two years of decision-making on economic policy. Mr. Lizza also released a 57 page memo sent to President-elect Obama by Dr. Larry Summers (later NEC Director) ...
In advance of tomorrow’s State of the Union address I have been rereading President Obama’s major economic speeches. I had hoped to show a progression of argument, but that didn’t pan out. Instead two things jumped out at me: the President’s primary economic problem definition has varied widely over time, ...
The payroll tax cut bill that will soon become law takes a small step in the right direction on policy toward the Government-Sponsored Enterprises, Fannie Mae and Freddie Mac. Congratulations to Congress for this small step; they still have a long ...
I find I can learn a lot by graphically examining legislative voting patterns. The recent enactment of implementing legislation for three Free Trade Agreements gives us a wonderful opportunity to compare the two political parties and the House and Senate on ...
This post is for Americans who know nothing about the debt crisis in Europe. I am going to try to provide a big picture framework and draw attention to what I think should matter most to Americans. If you have expertise ...
For months a common story line in the budget debate has been that a bipartisan deficit reduction deal was impossible as long as Republicans refused to raise taxes. President Obama, Congressional Democrats, and many observers asserted that it would be ...