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.
Source Data:
CPI: Recreation
BLS: CES Databases
Youse gottas haz left over monies afore yew kin reckreate.
ReplyDeleteSticks and stones may break my bones but but can also be makeshift hockey equipment when the monies dry up. Sigh.
ReplyDeleteBut the U.S. government has a technology
ReplyDeleteBlah, blah, blah!!!! Japan has the same technology.
And notice how Bernanke (the deceiver!) correctly states that the Government has the technology, not the Fed. Yet all we hear about is QE, not deficit spending.
Those venal morons in CON-gress have been taught their entire lives that Gov't debt is always a problem, never a solution.
Those simple fools can't figure out that we can create a trillions dollars to fight a senseless war but can't find a plug nickel to support wounded veterans.
The best Bernanke can do is tell half truths!
mab,
ReplyDeleteThose simple fools can't figure out that we can create a trillions dollars to fight a senseless war but can't find a plug nickel to support wounded veterans.
Lockheed Martin F-35 Lightning II
US$1.0165 trillion (projected over 55 years)
Meanwhile...
President Obama signs $8.7 billion food stamp cut into law