With a Booming economy comes at least transitory inflation: March producer prices One of the economic subjects you are going to hear a lot about this year is inflation. We are recovering from a sharp if brief recession, and with the dual firehoses of fiscal and monetary stimulus, entering a Boom such as we have […]
No doubt, they saw these decisions as moments of greatness. Or, at least hoped that history would see it that way. One, an egotistical ass who used his intellect as a cudgel with which to intimidate, to bully others. The other, simply a small minded man selected for that very smallness of mind. The one, […]
February JOLTS report showed a pandemic still in control Yesterday morning’s JOLTS report for February showed that the pandemic was still in control of the numbers.This report has only a 20 year history, and so includes only two prior recoveries. In those recoveries: first, layoffs declined second, hiring rose third, job openings rose and voluntary quits increased, […]
Good Signs On Renewing US-Iran JCPOA Nuclear Deal One should probably not get too optimistic yet, although I have been getting quite worried about it, but a report in today;s New York Times seems to indicate that via the rather indirect negotiations going on in Vienna the US and Iran may have worked out a […]
The Hippie Dog Whistle Work Ethic Silent-Majority Counter-Offensive Following up on my last post, I was searching for coverage of Ronald Reagan’s infamous “strapping young buck” comment from 1976 and found this wonderful commentary by Ian Haney López on Bill Moyers’s show. In his book, Dog Whistle Politics, López mentions the “work ethic” angle several times. The […]
How To Estimate “Rational” Market Expectations Of Future Inflation I am not a fan of rational expectations, hence the quotation marks around “rational” in the subject head here. Nevertheless I have become aware thanks to some posts at Econbrowser by the intrepid Menzie Chinn that the usual way this has been measured and reported by […]
Coronavirus dashboard for April 5: the problematic cases of Chile . . . and Michigan As you probably already know, the news on the vaccination front continues to be good, as the US is now administering on average over 3 million doses a day – and still climbing. At this rate of improvement, every adult […]
I bookmarked a prediction about the coronavirus by supply-sider Scott Grannis one year ago … As I mention from time to time, I read a number of economic observers with whose opinions I usually strongly disagree, partly because it is good to consider other points of view, and partly because some compile excellent and interesting […]
American plutocracy in two simple graphs; plus, when will wage growth bottom? The JOLTS report for February comes out later this morning; I may post on it later or tomorrow. In the meantime, here are updates on several graphs I used to run during the last expansion in order to examine how shared out (or […]