When we first saw the August 2013 Employment Situation Report from the U.S. Department of Labor, Bureau of Labor Statistics, we were appalled at the numbers revealed on the Household Summary Table. Let’s walk through this quickly… The Civilian...
The recent pronouncements coming forth from the FED officialdom including Federal Reserve Board of Governors’ Chairman Ben Bernanke are not inconsistent with that coming forth from the monetary policy makers throughout the developed world. Bluntly...
Since the quantitative easing began in December 2008, there have been a total of four rounds implemented (with QE 3 and QE 4 ongoing). The results of the Federal Reserve policy on stabilizing the financial markets and fostering growth have been two...
As we have pointed out over the last ten years, the SUBSTITUTION EFFECT is one of the most powerful economic forces that is always at work 24 hours a day, 7 days a week, and 52 weeks a year… Its results are given other names as well: automation...
Do you remember the words of Kevin Bacon from the last scene of Animal House? “Remain calm! All is well!” But is it? Let’s keep this as simple as possible and focus entirely on the Employment Status in the Household Survey and what it revealed (on a...
In the latest Employment Report, on March 8, 2013, the media was focusing on how wonderful it was that the payroll employment had risen by 236,000 and how the unemployment rate fell by two-tenths of a percentage point. On the surface those numbers...
The experience of U.S. history over the past century shows us that tax rate increases do not stimulate the economy; rather, they depress it. On the other hand, going back to the Harding and Coolidge era in the 1920s, inspired by the Secretary the...