At the same time more economic data are signaling slowing American productivity, the number of unemployed has begun rising once again. In today’s employment situation report, the number of unemployed persons ticked up by 164,000. Hardest hit were blacks whose unemployment rate increased to 14% from 13.2%, and adult women whose unemployment rate increased to 7.3% from 7.0%. Job creation slowed as well. Only 155,000 jobs were created in December, compared to 161,000 in November. In December, government payrolls shrank by 13 thousand, the third consecutive month of declines driven … [Read more...]
What We’re Reading 1-4-13
1950s Tax Fantasy Is a Republican Nightmare, Amity Shlaes, Bloomberg More Asians Going for Gold in the Vault, Clementine Wallop, Wall Street Journal Focus on Health-Care Costs Causes More Spending, David Goldhill, Bloomberg Gauging the Guidance That Models Give the Fed, Jon Hilsenrath, Wall Street Journal … [Read more...]
VIDEO: Guess Which Country Has the Highest Birth Rate
Who is Buying Gold?
In 2012 there were stunning trends in gold buying. Perhaps the most stunning was who was buying gold to lower risk from economic turmoil. … [Read more...]
What We’re Reading 12-28-12
High-Frequency Trading Prospers at Expense of Everyone, The Editors, Bloomberg Warren Buffett Knows That Tax Rates Matter, Clifford S. Asness, Wall Street Journal Leszek Balcerowicz: The Anti-Bernanke, Matthew Kaminski, Wall Street Journal The Federal Government’s Biodiesel Mandate Ensures Higher Prices All Around, Robert L. Bradley, Forbes … [Read more...]
Another Recession on the Way?
Since at least 1973 all major dips in total American energy consumption have been associated with recessions. Consumption crashed after the recent Great Recession to the lowest levels since the late 90s. After bottoming out in September 2009, consumption was trending upward until April 2012 when it fell sharply once again. Since a post-recession peak in January of 2011, American energy use has fallen off (chart 1). The question is whether or not falling consumption is caused by an economy sagging toward a new recession, or by structural and technological changes in the American economy that … [Read more...]
Video: Fed’s Lacker- Would Rather Have Qualitative Threshold, Not Numerical
Falling Economic Freedom Drags on U.S. Growth
Real GDP growth has been declining in the United States for decades. As more rules and regulations have been placed on American business, it has become harder to generate meaningful real growth levels. … [Read more...]
VIDEO: Fisher on Fed’s ‘Hotel California’ Fiscal Policy
What We’re Reading 12-14-12
Taxes Are Much Higher Than You Think, Prescott and Ohanian, Wall Street Journal Inside the Risky Bets of Central Banks, HIlsenrath and Blackstone, Wall Street Journal Current Revenue Solutions Will Barely Reduce the Deficit, Gene Steuerle, Tax Policy Center Here’s a New Tax on Savings You Didn’t Know About, Alan D. Viard, Bloomberg Warren Buffett is wrong about the past, present and future, Edward Conard, Bloomberg … [Read more...]
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