Just to put things in perspective. This is through the first quarter so it does not reflect the last pop in energy prices. It is now 6.6% as compared to a low of 4.2% at the double bottom and the 1970s low of 6.2%.The peak was 9.3%.
It is my understanding that the major byproduct of ethanol is distillers grains that are used as feed for cattle, hogs and chicken with essentially the same nutritional value as feed grains that have not had ethanol distilled out of them. All distilling ethanol does is remove the starch from the food grains and leaves […]
Calculated Risk has not done his usual analysis of the monthly personal income report from this morning, so I will take it on myself to comment. Essentially it repeats the earlier retail sales report that consumers are spending their rebates.Real personal consumption rose 0.4%. this compares to these recent monthly growth rates: Dec… -0.1Jan… +0.2Feb… […]
Greg Mankiw makes an interesting point. Two-thirds of doctoral candidates in science and engineering in U.S. universities are foreign-born. But only 140,000 employment-based green cards are available annually, and 1 million educated professionals are waiting — often five or more years — for cards. Congress could quickly add a zero to the number available, thereby […]
If strong money supply growth is such a problem, why does the stock market like it so much?
I keep hearing the argument that the Bush economic policies are good for the economy. But the stock market sure does not seem to agree.
by spencer For all the worries about the Fed having to raise rates this fall to fight inflation I suggest you look at this relationship. It suggests there is little or no reason to worry about either higher inflation or higher fed funds.
The other day I read an interesting comment at Division of Labor.Art Carden of Rhodes College wrote: I’ve had a great time in Great Barrington, Massachusetts while I’ve been visiting the AIER. It’s absolutely beautiful up here, but I was at a coffee shop yesterday when I noticed a sign saying “please bus your own […]
This is a very interesting leading index of world economic growth and commodity prices –including oil. Yes, it has been known to generate false signals.
It’s amazing how any discussion of the minimum wage brings out all kinds of discussion and comments. We have a school of thought that believes very strongly that increases in the minimum wage causes firms to fire minimum wage workers, so higher minimum wages harm the very people it is designed to help. I am […]