Wednesday, December 4, 2013

Power to the People!

The following chart shows real annualized power construction spending per capita (October 2013 dollars).

Click to enlarge.

Tack on another $117 per year that will ultimately be passed on to the people (each man, woman, and child).

Hey, maybe it won't appear all at once though, thanks to the Fed's ZIRP providing long-term financing at supposedly super cheap long-term interest rates. That debt could potentially just brew and percolate for a few decades perhaps. So we've got that going for us, which is nice.

Power to the people (slogan)

During the 1960s in the United States, young people began speaking and writing this phrase as a form of rebellion against what they perceived as the oppression by the older generation, especially The Establishment.

With $90+ oil, power to the people has a whole new meaning now of course.

It doesn't look like we can expect much power construction job growth per capita from here. As seen in the chart, real spending per capita is just sliding along sideways at a higher new normal. I guess we'll just have to make it up on fast food jobs.

August 29, 2013
The Fast-Food Restaurants That Require Few Human Workers

"The fight for $15 is a fight against technology, not management — and that's a fight that these union-organized protestors can't win. Instead of securing a bigger paycheck, the less-experienced employees demanding a more than 100 percent pay increase will find their jobs replaced by less-costly alternatives," Michael Saltsman, research director at EPI, said in a statement.


Today, Amsterdam's Febo chain of stores feature only vending-machine service for burgers, fries and more. A few employees are responsible for stocking the items behind the machines but way out of customer view, so you can walk up, drop in your coins and get a hot meal after a long night out without talking to anyone face-to-face.

Introverts of the world unite! I say this as an introvert who generally enjoys gallows sarcasm of course. Deep sigh.

Source Data:
St. Louis Fed: Custom Chart


Rob Dawg said...

Exponential fail that makes you go hmmmm:

Real personal consumption expenditures: Durable goods: Educational books (chain-type quantity index) (DEBKRA3A086NBEA)

Stagflationary Mark said...

Rob Dawg,

Here's the link.

It is interesting. Here's the defintion of a quantity index too.

Stagflationary Mark said...

I think I'm going to devote a post to quantity index exponential trend failure charts. Thanks for sharing!

Rob Dawg said...

You're welcome. I wasn't lazy. I didn't want to step on your playing field.

Stagflationary Mark said...

Rob Dawg,

Everyone is always welcome on the exponential failure playing field. There's almost no danger of eventually running out, especially in this economy! ;)


Rob Dawg said...

But, but, exponential piling on will only lead to failure!

Sustainable Gains said...

I suppose illuminated manuscripts had their exponential trend failure too, and probably well before the time Gutenberg figured out movable type.

There are plenty of worrisome trend failures, but I don't think the demise of educational books is one of them. The internet is wonderful, contains far more and costs far less since the brick-and-mortar markup is largely gone. The network transformation is also contributing to the office-space construction spending trend failure, and the reduced-travel trend failures.

But you know, being able to accomplish more with less is not necessarily a bad thing overall. Technological deflation is historically good, although it does highlight a lot of the flaws in traditional measurements of "GDP", and puts banking-sector interests at risk.

Stagflationary Mark said...

Sustainable Gains,

Free Textbooks? Yes, Please!

Wouldn't see me complain.