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)


September 14, 2014, 9:33 pm, 1334794
Photo by Spencer Tunick, Netherlands 8 (Dream Amsterdam Foundation) 2007 [link]
If short sellers are considered to be the ...


September 11, 2014, 11:33 pm, 1333622
The textbook definition of money is anything that functions simultaneously as a store of value, a medium of exchange, and a medium of account. This is the monetary triumvirate, and we need ...


September 6, 2014, 9:33 pm, 1330547

Having reduced the ECB's overnight target rate to +0.05% and the deposit rate to -0.2%, Mario Draghi confidently told those assembled at Thursday's press conference that the ECB wants ...


August 30, 2014, 11:33 am, 1326997
Berkshire Hathaway annual general meeting
When you purchase a share you're not only getting the opportunity to make some extra cash. You're also buying a vote. ...


August 20, 2014, 1:33 am, 1321434
A 1795 Spanish dollar, minted in Mexico, with several chopmarks
One of the most interesting things about bitcoin, ripple, and other cryptocurrencies is how ...


August 9, 2014, 5:33 pm, 1315439

The way we ascribe labels to things results in the creation of categories, and this in turn affects the construction of our mental landscapes—best to get the words and categories right from the start lest ...


August 5, 2014, 7:33 pm, 1312236

What causes a new currency to survive while others fail? Why do some cryptocoins never see the light of day while others enjoy successful launches? This post explores these questions by ...


August 5, 2014, 7:33 pm, 1312235

There's a fairly regular monetary phenomenon that needs a name. It's similar in nature to Gresham's law, yet the inverse version.

Gresham's law is commonly stated as the phenomena by which "bad money drives ...


August 5, 2014, 7:33 pm, 1312234


August 5, 2014, 7:33 pm, 1312233


You may know by now that the final revision of U.S. first quarter GDP revealed a shocking 2.9% decline while its mirror image, gross domestic income (GDI), was off by 2.6%.

As Scott Sumner has ...