September Payroll Employment
We are still 2% off the previous peak in jobs.
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 .
Focus on the Problem
U.S. payroll employment peaked at 132.5 million jobs in February 2001. For April 2012, U.S. payroll employment had reached 133.0 million jobs, marking the third month in a row above the February 2001 level.
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.
Looking Up At 2001
In February 2001, U.S. payroll employment peaked at 132.5 million. The November 2011 figure of 131.7 million still falls 800,000 jobs short of the earlier peak.
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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"The latest maneuvers of the new oligopolies and what they mean”
Erectile oligopoly accused of cartel
Swiss antitrust officials have charged the three leading makers of erectile dysfunctional drugs of a price-fixing cartel. The three are Bayer (Levitra), Pfizer (Viagra), and Eli Lilly (Cialis). According to the Swiss officials, the three companies set and enforced similar "recommended ...
Stupidest deals: Fiat-Chrysler
With few mergers and acquisitions taking place now, and a growing number falling apart, we will start looking at the deals over the last few years that have turned out to be disasters. Not for executives, consultants, private equity groups, and bankers - they've ...
The EU competition commission recently fined a cartel of marine hose manufacturers for price fixing. Marine hose is a ...
Pfizer to buy Wyeth
Well, the deal came through and finally moved at lightning speed. Wyeth has agreed to be acquired by Pfizer, making the #1 drug company even large in scope. The cost was an amazing $68 billion in cash and stock, a very rich deal ...
The proposed merger of Live Nation and TicketMaster is a clear case of two oligopolies stacking on one another to extend their near-monopoly control vertically.
Live Nation either owns of has the right to book nearly every major pop music venue in the US ...
The coming Kindle monopoly?
For a long time, selling books has been an oligopoly. On the brick-and-mortar world, it is Wal-Mart, Borders, and Barnes & Noble. In the digital world, there's Amazon, which dwarfs any competitors.
These four have driven all but a ...
Evil Empire buys rival, quashes anticompetition suit
News Corp, through its News America Marketing unit, recently bought out competitor Floorgraphics for an undisclosed sum. Both companies are in the businesses of selling coupon inserts and in-store advertising.
The deal is to in itself remarkable or very big. But ...
Cargill and food prices
We've written a lot about Cargill, the privately-held conglomerate that is key oligopoly worldwide food industry. It is constantly in the news. It has been recently declared Australia's leading whet exporter. It was the victim of partial takeover (of its rice operations) ...
The big news today is the acquisition of drugmaker Schering-Plough by Merck. While it's being called a merger in the press, it is clear that Merck comes out on top in terms of staffing and name. But curiously, it's being structured as a reverse takeover, where ...
Another LCD cartel member fined
Last December we reported the multi-million dollar fines given to a cartel of LCD makers, including South Korea's LG Displays, Taiwan-based Chunghwa Picture Tube, and Japan-based Sharp. These companies were convicted of meeting to set prices on desktop computer, laptop and ...