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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Marginal Revolution

"Small steps toward a much better world”


December 18, 2014, 4:05 pm, 1391701

The words of Gillian Tett are worth a ponder:

…corporate leverage in regions such as Asia is considerably higher today, relative to gross domestic product, than it was before the 1998 Asian financial crisis, as Frank Neumann of HSBC notes. What is even more alarming is that these numbers might understate ...


December 18, 2014, 4:05 pm, 1391702

On the topic of pallets, Jacob Hodes writes:

There are approximately two billion wooden shipping pallets in the United States. They are in the holds of tractor-trailers, transporting Honey Nut Cheerios and oysters and penicillin and just about any other product you can think of: sweaters, copper wire, lab mice, and ...


December 18, 2014, 2:05 pm, 1391618

December 18, 2014, 8:05 am, 1391384

Switzerland is introducing a negative interest rate on the deposits it holds for lenders, its central bank said on Thursday, moving to hold down the value of the Swiss franc amid the turmoil in global currency markets.

The Swiss National Bank said in ...


December 18, 2014, 8:05 am, 1391383

This post isn’t about smuggling Cuban cigars it’s an incredible story about smuggling Cuban baseball players.

The average wage in Cuba is about $20 per month so a typical Cuban might earn 50 times more in the United States but a star Cuban baseball player (who also earns about $20 per month ...


December 18, 2014, 4:05 am, 1391269

This cracks me up:

The illustrations on the banknotes show generic examples of architectural styles such as renaissance and baroque rather than real bridges from a particular member state, which could have aroused envy among other countries. “The European Bank didn’t want to use real bridges so I thought it would ...


December 17, 2014, 4:05 pm, 1390972

Felix Salmon writes:

Facebook’s algorithm is already working overtime on trying to slim down a virtually infinite range of possible News Feed posts to a much smaller number. A significant chunk of the NewsFeed is already ads, so in order to make it into the News Feed if you’re ...


December 17, 2014, 2:05 pm, 1390883

Here is a Cuban joke which we hope will become obsolete:

One Cuban young woman complains to another. “He lied to me! He told me that he was a luggage handler! It turns out, he’s nothing but a neurosurgeon!”

Here are many other Cuba posts from MR, interesting ...


December 17, 2014, 2:05 pm, 1390884

December 17, 2014, 8:05 am, 1390642

David Cay Johnston takes a trip to Disneyland some 60 years after his first visit. It looks better than ever, even as America has declined.

Every night Disneyland gets freshened up. When the park closes at midnight, the ...