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The employment numbers for January 2010 came out today and the headline was that unemployment dropped from 10% to 9.7%. This is a significant event because we all want to see employment grow. My conclusion from reading the report from the Bureau of Labor Statistics is that it’s very hard to tell if this increase [...] According to this report from Bloomberg, the BLS will revise its birth-death business model to more accurately reflect current economic realities. Their model has been seriously criticized. It assumes that as some businesses fail, they will be replaced by new businesses at a certain rate. Mish and others have been arguing for some time that [...] By Jeff Harding. This is an animated color map showing unemployment by county as it grows from January 2007 to October 2009. It’s fascinating to see the map get darker and darker as the colors change–the dark colors are areas of 10%+ unemployment. Jeff Harding. I don’t mean to keep picking on Japan. But, they are the textbook case of why Keynesian economics doesn’t work. Actually, now that I think about it, they are the textbook case of why Austrian free market economics works. I have set them up as the poster child for bad policies. They have had [...] By Jeff Harding. Everyone is pleased with the employment numbers that just came out today. Also, industrial production showed an increase. These numbers would indicate that we are well on our way to recovery, and I hope that is true. Many economists have hailed these reports as a clear sign that we are well on the [...] |
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