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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Carpe Diem - AEI (Mark J. Perry)
…. is from George Mason University economist Walter E. Williams, writing in his syndicated column this week “International Trade Thuggery“:
All trade is fair in the eyes of the parties trading, or else they would not trade. It’s third parties who seek to interfere.
MP: And it’s not disinterested busybody ...
Writing in The Atlantic, law professor James Kwak makes a very ill-advised case for ignoring economic theory, logic, laws and reasoning and supporting higher government-mandated minimum wages for unskilled workers in an ...
What is important is not the particular person who is elected President or the party he belongs to. I have often said we shall not correct the state of affairs by electing the right people; we’ve tried that. The ...
That’s what we learn from Ben Shapiro writing in National Review:
The idea seems to be that unless you declare medical care a right rather than a commodity, you are soulless. This is foolhardy, both morally and practically.
1. Morally, you have no right to demand medical care of me. ...
The chart above displays the estimated burdens of trade tariffs (as a share of after-tax household income) on US households by income deciles. It represents graphically the main ...
I’ve taken the liberty of doing some editing of this press release from New York Governor Cuomo’s office about his new “Buy American New York” mandate for state procurement spending to help demonstrate how those protectionist policies are self-defeating and illogical. If a “Buy America” policy can save ...
The cartoon above explains everything that’s wrong with punitive, protective trade tariffs in a single picture: they ultimately generate great harm for American consumers, American workers ...
The chart above displays energy consumption shares based on new forecasts out to the year 2050 that were released last week by the Energy ...