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?
The Economics Roundtable is sponsored by EconModel.
The Classic Economic Models cover micro, macro, and financial markets.
Carpe Diem - AEI (Mark J. Perry)
….. is from the University of Chicago’s Dean of Students John Ellison’s letter to the Class of 2020 incoming students:
Our commitment to academic freedom means that we do not support so-called ‘trigger warnings,’ we do not cancel invited speakers because their topics might prove controversial, and we do ...
A UC-Berkeley study has just conclusively confirmed something many progressives, politicians, and the “Fight for 15 Cents” crowd have a very difficult time understanding: Demand curves do slope ...
…. is from the National Review editorial “Mrs. Clinton and Her Fixer“:
It is important to keep in mind what the Clinton Foundation mainly does: It does precious little in the way of actual philanthropy ($9 million worth out of $140 million in revenue for 2013) but instead spends ...
Have you heard yet about the “Cajun Navy“? Here’s the group’s Facebook page.
If not, it’s “Louisiana’s 100% Volunteer Group That’s Helping Flood Victims” according the Huffington Post:
While FEMA was just gearing up, a group of people dubbed ‘The Cajun Navy’ were already navigating the floodwaters to ...
Cities and states around the country that are considering a hike in their minimum wages to $15 an hour might want to take a look at ...
…. is from Jason Kuznicki, writing at Libertarianism.org:
The overwhelming majority of the poor in the United States enjoy technological wonders that didn’t even exist a few decades ago. Outside the free market/liberal democratic synthesis, essentially no other social system has ever delivered as much — because almost ...
….. is from Matt Ridley’s latest column “What Ever Happened to Adam Smith?” (emphasis mine):
Last week both Hillary Clinton and Donald Trump set out their economic policies in set-piece speeches. Mr. Trump’s, delivered in Detroit, so far as one could tell from the fractured syntax and the digressions ...
1. Cartoon of the Day above (with a h/t to Jon Murphy).
2. Markets in Everything: a) Truman Capote’s ashes will be auctioned off in September, b) ...
…. is from the always-excellent Thomas Sowell, writing in 2015:
The “legacy of slavery” argument is not just an excuse for inexcusable behavior in the ghettos. In a larger sense, it is an evasion of responsibility for the disastrous consequences of the prevailing social vision of our times, and ...