Economics Roundtable

Database Maintenance 7/4/15

Routine database maintenance will induce some duplicated items for the next day or two.


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.


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 .


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.


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Carpe Diem - AEI (Mark J. Perry)


July 31, 2015, 1:33 pm, 1519521

…. is based on this paragraph from Jonah Goldberg’s article in National Review “Huckabee’s Hitler Comparison That Wasn’t“:

Barack Obama, Hillary Clinton, and John Kerry don’t take the Iranians at their word when they say they want to kill Jews, no matter how ...


July 31, 2015, 11:33 am, 1519441

From the New York Times editorial “The Right Minimum Wage: $0.00“:

There’s a virtual consensus among economists that the minimum wage is an idea whose time has passed. Raising the minimum wage by a substantial amount would price working poor people out of the job market. A far better way ...


July 30, 2015, 5:33 pm, 1518864

Tomorrow is Milton Friedman’s birthday — he was born on July 31 in 1912 and would have been 103 years old tomorrow. Unfortunately, Milton died on November 16, 2006 when he was 94 years old. In an editorial in the ...


July 28, 2015, 1:33 pm, 1517079

1. Chart of the Day I (above). The Census Bureau reported this morning that the US homeownership rate fell to 48-year low of 63.4% in Q2, the lowest level since Q1 1967. Thanks to a political obsession with homeownership, fueled by lower ...


July 27, 2015, 7:33 pm, 1516562

Let’s compare and contrast two viewpoints on Uber and see what that tells us about one’s trust of market forces vs. trust of government force.

1. From Steve Horwitz’s article in The Freeman “Uber Solves the Fundamental Problem of the Marketplace (Or, Turning Strangers into ‘Honorary Kin’)“:

As an economic innovation, ...


July 26, 2015, 3:33 pm, 1515898

A new milestone must have been established recently – we’re now officially in a new era of the $400 new college textbook and the $300 used college textbook, see graphic above showing the top 15 most expensive textbooks at the University of Michigan-Flint ...


July 26, 2015, 11:33 am, 1515872

…. is from Mark Thornton’s article “Doomsayers Doomed in Washington State Marijuana Debate,” based on this new study from the Drug Policy Alliance “Marijuana Legalization in Washington After 1 Year of Retail Sales and 2.5 Years of Legal Possession“:

In contrast to the prohibitionist propaganda messages, legalization [of weeds ...


July 24, 2015, 7:33 pm, 1515440

About a year ago, I reported on the tragic story of Baby Bou Bou, the 2-year old victim of a botched SWAT drug raid in Georgia that was conducted based on a search and arrest warrants obtained with false information. See CD posts: 1) America, here’s your Drug War: SWAT ...


July 24, 2015, 1:33 pm, 1515221

July 23, 2015, 3:33 pm, 1514491

1. Chart of the Day I (above). Old oil drilling (jelly donut) vs. new oil drilling (tiramisu), explained here in the Forbes article “U.S. Winning Oil War Against Saudi Arabia“:

Drilling into conventional sources is like sticking a straw in a jelly donut ...