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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News from 1930
"Being a daily summary based upon my reading of the Wall Street Journal from the corresponding day in 1930.”
Note: Sorry for the delay in posting, but as you'll see this day was a pretty eventful one with about double the normal quota of news, and I didn't want to skimp on the coverage because of the significance of the events. Also, I'd ...
Important note: None of this is intended as investment advice - please do your own due ...
Editorial: While Americans are confident in men like W. Gifford and O. Young as the leaders of unemployment relief, “it is devoutly to be hoped that soon they will be ...
(Hopefully the first of a regular feature.)
One of my favorite things about doing this blog has been coming across the amazing ...
“Great Britain's second day off the gold standard, as far as the man in the street was concerned, found the country carrying on under the war-time slogan 'business as ...
British crisis update:
After writing my recent note on Eddie Cantor, I did a search on Amazon and was delighted to find that “Caught Short: ...
Sterling continued to decline, opening at $3.91 and sagging to $3.81 (vs. $4.10 on Wed. and $4.85 the previous week); rest of the foreign currency list was unsettled, though francs and Swiss ...