The first estimate of fourth quarter US GDP was released this week. It showed that the US economy shrank in the fourth quarter. The White House’s response to slow US growth was to blame congressional Republicans and disband the US Jobs Council. Apparently there is no great need for more jobs now that the 2012 …
Category Archive: Macro related
Permanent link to this article: http://wkubbtcenter.com/2013/02/01/the-amateur/
The economy continues to grow at a slower than normal pace. In Wednesday’s WSJ, Richard Vedder wrote The Wages of Unemployment. He argued that our slow economic growth since 2000 was the result of a declining labor force participation rate. In short, people are not working as much as they used to and it is …
Permanent link to this article: http://wkubbtcenter.com/2013/01/17/yes-we-have-no-manna-today/
Work has become passé. The labor force participation rate fell to a 31 year low in August as another 368,000 people left the work force. It also represented the lowest labor force participation rate on record for men at 69.8%. That rate does not even include those who are incarcerated. The US has more than …
Permanent link to this article: http://wkubbtcenter.com/2012/09/21/multiplying-stupidity/
The mission statement for the US Department of Agriculture states, “We provide leadership on food, agriculture, natural resources, and related issues based on sound public policy, the best available science, and efficient management.” While that doesn’t immediately send the masses rolling on the ground in hysteria it should. That statement is pretty funny when you …
Permanent link to this article: http://wkubbtcenter.com/2012/09/05/corny-but-not-funny-us-agricultural-policy/
The US unemployment rate rose to 8.3% in July and Jobless claims in August have risen by 10,000 over July. The slowly growing US economy is not denting the 8% unemployment rate. Keynesian economists believe that this must be due to some lack in demand for US goods and services. If only Congress could borrow …
Permanent link to this article: http://wkubbtcenter.com/2012/08/31/unemployment-and-the-unemployable/
You Didn’t Build That The government reported today that GDP growth in the second quarter was a mere 1.5%. The average growth rate over the last two years has been 2.1%. From 1950 through 2011, the economy averaged a growth rate of 3.3%. The economy that has been growing more slowly than normal is now …
Permanent link to this article: http://wkubbtcenter.com/2012/07/27/wheres-the-growth/
Do you know what your tax rates are going to be next year? Will the Bush tax cuts expire as planned? How will that affect you? Will the payroll tax “holiday” be extended? Will the debt ceiling be raised? Will it be another temporary last minute deal that involves no real spending cuts but makes …
Permanent link to this article: http://wkubbtcenter.com/2012/05/16/the-certainty-of-bad-policy-makers/
Sometimes looks can be deceiving. April’s unemployment rate fell from 8.2% to 8.1% which looks good. On the other hand, the labor force participation rate continued to fall and hit a 30 plus year low. Fewer people are in the labor force now than were there at the beginning of the economic recovery. If the …
Permanent link to this article: http://wkubbtcenter.com/2012/05/04/all-play-and-no-work-makes-the-us-a-poor-country/
I was eight years old when I began working six days a week, fifty two weeks a year delivering newspapers. By age 13, I had two jobs. I worked through high school and college. No, this isn’t the 1930’s I’m referring to but the 1980’s and 90’s. Times, they are a changing – particularly for …
Permanent link to this article: http://wkubbtcenter.com/2012/04/24/all-play-and-no-work-makes-johnny-a-poor-boy/
Alan Blinder was at it again in Monday’s WSJ, as he warned against a 2013 fiscal cliff. One wonders if he is not too blind to tell the difference between a cliff and a mountain. The cliff Professor Blinder worries about involves programmed tax increases and spending cuts set to take effect in January 2013. …
Permanent link to this article: http://wkubbtcenter.com/2012/03/19/blinder-faith-in-the-government/
Twelve Week Agenda
- No events listed in the next 12 weeks
- Where have Kentucky’s Workers Gone?
- The Macro Economy, Education, and Race in Employment
- Kentucky’s Labor Market Ranks 49th
- Youth Employment and The Last 30 Years of the Minimum Wage in the United States
- Should We Transfer Money from the Top 1%?
- The Lack of Slavery May Be Hurting Economic Growth; Or, How to Miss the Forest of Human Flourishing for the Trees of GDP Growth.
- The Rest of the Story: Employment Recovery?
- Give, Share, and Take are not Synonyms
- Kentucky’s Budget and Tax “Reform”
- Seven Habits of Highly Effective Economies