Economics Roundtable

May 2014 Payroll Employment

After 76 months, we finally got back to the prerecession level of payroll employment.

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Jobs

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 .


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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.


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Moneyness (JP Koning)


August 22, 2016, 5:34 pm, 1666666


Bitcoin has had another white knuckle year, rising from a low of $350 in January to a high of $780 in June. As I've said many times ...


August 11, 2016, 1:34 am, 1663301

The Bank of England recently announced that it will end a 300-year tradition of allowing employees to keep chequing accounts at the Bank. You can see an example of a cheque above, ...


July 31, 2016, 11:34 pm, 1659356

I always like reading fund manager John Hussman because he writes very well, but I feel like he's dug himself into a bit of an intellectual rut—a situation that happens to all ...


July 26, 2016, 1:34 pm, 1657331

Proponents of helicopter money have been getting a lot of press lately, but I don't really get what all the excitement is about. I live in Canada, and no nation is closer to implementing helicopter ...


July 8, 2016, 11:34 am, 1652058

If you haven't heard, protests are breaking out in Zimbabwe and unpaid civil servants are going on strike. This sort of thing hasn't happened in many years.


June 28, 2016, 1:34 pm, 1649210

I last wrote about Fedwire data two years ago. Since then, Fedwire has entered into a (nominal) recession. Is this something we need to worry about?


June 15, 2016, 11:34 pm, 1645813
Early map of Fedwire. Source: FRBNY
The pace of Fedcoin sightings has been accelerating this year. If you're new to this blog, Fedcoin is ...


June 7, 2016, 1:34 pm, 1643354
A Zimbabwean washes U.S. dollars, from NPR Planet Money
Here's a surprising development.

Zimbabwe, a dollarized nation, is on the verge ...


June 2, 2016, 1:34 pm, 1642003

Say the San Francisco Fed decided to secede from the Federal Reserve System or the Bank of Greece started to print its own euro notes without the consent of the Eurosystem. What happens ...


May 27, 2016, 3:34 pm, 1640509
Electrum coins [source]
First proposed by economist Alfred Marshall in the late 19th century as an alternative metallic standard to the gold, silver and bimetallic ...