Click to enlarge.
The next chart shows the 5-year moving average of amusements, gambling, and recreation employment.
Click to enlarge.
Unless I was mistaken, wasn't this the sort of discretionary leisurely thing our strong and resilient service economy was supposed to excel at? You know, while the rest of the world was making goods for us, we'd be amusing ourselves, gambling, and recreating?
November 21, 2002
Deflation: Making Sure "It" Doesn't Happen Here
But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.
But consumers have a technology, called dog playtime (or, today, our dogs Honey and Cocoa equivalent), that allows consumers to produce as many DHOF (dog-hours-of-fun) as they wish at essentially no cost. By increasing the number of DHOF in circulation, or even by credibly threatening to do so, consumers can increase the value of DHOF in terms of recreational services, which is equivalent to lowering the prices in DHOF of those recreational services. We conclude that, under a best-things-in-life-are-often-free system, determined consumers can always generate lower recreational spending and hence positive deflation.
November 30, 2014
Cyber Weekend Madness: Honey vs. Thingamabob
And don't even get me started on VGHOF (video-game-hours-of-fun). That's just right off the charts. In fact, there is one game I still enjoy playing on the Playstation 2! I kid you not.
BLS: CES Databases