tag:blogger.com,1999:blog-8515247115132134144.post5447171678702886765..comments2024-02-17T12:34:01.400-08:00Comments on Illusion of Prosperity: The Cone of Employment PainStagflationary Markhttp://www.blogger.com/profile/04568993350246477976noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-8515247115132134144.post-40016221857507738012014-01-13T04:50:39.767-08:002014-01-13T04:50:39.767-08:00Fritz_O,
We have a Fed that has eliminated recess...Fritz_O,<br /><br /><i>We have a Fed that has eliminated recessions.</i><br /><br />I know! It's amazing when you stop to think about it.<br /><br />The earth is 4.5 billion years old and well less than a thousand of those years were recessionary. The Fed is just doing the final mop up work now! We should be very pleased that they are returning us back to the prehistoric trend!<br /><br />We don't yet have proof of course, but their <a href="http://research.stlouisfed.org/fred2/graph/?g=qU8" rel="nofollow">solution</a> is so simple and elegant that it's got to work long term! Just set interest rates at prehistoric levels (zero) and keep them there forever! What could possibly go wrong?<br /><br />Fedociraptor!<br />Keynesaurus!<br />Moneteratops!<br /><br />Behold the dinosaurs of the 21st century! ;)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-82036105078513331532014-01-13T02:49:13.999-08:002014-01-13T02:49:13.999-08:00...since we clearly don't need wages we probab...<i>...since we clearly don't need wages we probably don't need jobs either.</i><br /><br />Who needs wages...or jobs...<br /><br />We have a Fed that has eliminated recessions.<br /><br />The top 5% will pass down 2.62% wage increases to the bottom 52% and we'll all be happy.<br /><br />And the bottom 52% will continue to out-vote the top 5% in the false hope of voting their way out of the mess this country is in.Fritz_Onoreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-18373451426489289232014-01-13T00:49:01.231-08:002014-01-13T00:49:01.231-08:00TJandTheBear,
I'd just like to know why "...TJandTheBear,<br /><br />I'd just like to know why "pent-up demand" is an economic term but "pent-down demand" isn't.<br /><br /><i>Hey, why aren't you buyin' a new set of wheels?<br /><br />I got some pent-down demand after maxin' out all my credit cards!</i>Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-5253163330816646122014-01-12T21:46:58.601-08:002014-01-12T21:46:58.601-08:00In my book, the quickest way for anyone to identif...In my book, the quickest way for anyone to identify themselves as an economic idiot is to mention "aggregate demand".TJandTheBearhttps://www.blogger.com/profile/10735388072841457108noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-15722856135122879422014-01-12T17:08:11.486-08:002014-01-12T17:08:11.486-08:00mab,
Catchy *and* hilarious! Hahaha!mab,<br /><br />Catchy *and* hilarious! Hahaha!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-19049394461081799962014-01-12T15:28:32.276-08:002014-01-12T15:28:32.276-08:00Can't lose!
Some people get first prize witho...<i>Can't lose!</i><br /><br />Some people get first prize without even trying:<br /><br />http://www.youtube.com/watch?v=MZ35SOU9HTM<br /><br />mabnoreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-43499266675813625192014-01-12T15:02:32.213-08:002014-01-12T15:02:32.213-08:00mab,
Wow, the bottom channel of that cone is stee...mab,<br /><br /><i>Wow, the bottom channel of that cone is steeply downward. If we touch that again the next recession is going to be a monster.</i><br /><br />Have no fear! Everyone just needs to participate in America's new growth industry!<br /><br />Restaurants! <a href="http://historysdumpster.blogspot.com/2012/08/sea-galley-restaurants.html" rel="nofollow">Those things never fail!</a><br /><br />If I start a restaurant and you promise to eat only at mine, then I promise to only eat at yours when you start one.<br /><br />We'll both have guaranteed income streams! Can't lose!<br /><br />It gets even better though. You can raise your prices to generate more profits off of me and I'll do the same to generate more profits off of you! Restaurant profit perpetual profit machines for the win!<br /><br />And at any point we spot any unintended consequences from my sure thing plan, let's agree to loan each other money if either of us struggles. We know we're good for it because we both have guaranteed income streams!!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-81890665922832006592014-01-12T14:48:51.578-08:002014-01-12T14:48:51.578-08:00Troy,
AAARGH!!!
But after 2007 the United States...Troy,<br /><br />AAARGH!!!<br /><br /><i>But after 2007 the United States and other advanced countries suddenly went into reverse, becoming poorer instead of richer, and for an extended period too...</i><br /><br />Fake prosperity unwound! Bubbles do not make us permanently richer, nor does taking on excessive debt to generate them!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-42719547016156876352014-01-12T14:36:14.249-08:002014-01-12T14:36:14.249-08:00Wow, the bottom channel of that cone is steeply do...Wow, the bottom channel of that cone is steeply downward. If we touch that again the next recession is going to be a monster. <br /><br />I'd be worried, but since we clearly don't need wages we probably don't need jobs either. <br /><br />The world loves our dollars.mabnoreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-87564217260409239482014-01-12T13:36:38.028-08:002014-01-12T13:36:38.028-08:00Goddamn Krugman today:
Think, for example, about ...Goddamn Krugman today:<br /><br />Think, for example, about the Great Recession and its aftermath. Regular economics says that economies should normally get richer each year, as their work force and capital stock grow, and technology advances. But after 2007 the United States and other advanced countries suddenly went into reverse, becoming poorer instead of richer, and for an extended period too . . .<br />So did plagues kill off part of the work force? Did termites eat part of the capital stock? Did technology retrogress? No, no. no. . . .<br />So what did happen? Keynes offered an answer: it is, in fact, possible for economies to suffer from an overall lack of demand. Other people had said things along these lines, but Keynesian economics put it front and center.<br /><br />AAARGH<br /><br /><a href="http://research.stlouisfed.org/fred2/graph/?g=qTg" rel="nofollow">http://research.stlouisfed.org/fred2/graph/?g=qTg</a><br /><br />blue is real GDP % YOY +<br />red is consumer YOY debt take-on / total wages <br /><br />borrow 20% of our incomes each year and things are going to be happy happy!<br /><br />Troynoreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-42892191164929702492014-01-12T07:47:31.665-08:002014-01-12T07:47:31.665-08:00Mr Slippery,
It possible we will see a big surge ...Mr Slippery,<br /><br /><i>It possible we will see a big surge in hiring of people to sort out the administrative mess of Obamacare this year, or not.</i><br /><br />Yes! Big surge! You didn't hear it here but I have it on good authority that 1 to 6 people were hired part-time. A die roll was involved. I just don't know the result, lol. Sigh.<br /><br />Gallows humor.<br /><br />Go Seahawks indeed! I haven't watched that many games this year but I have sure been glued to the TV recently. :)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-52120187472838438222014-01-12T07:34:39.629-08:002014-01-12T07:34:39.629-08:00I started talking about median duration of unemplo...I started talking about median duration of unemployment a couple months ago. It bottomed in last July. Mean duration of unemployment bottomed last June. The trend remained the same after the Friday NFP report. Rising median duration has been a very reliable predictor of recession. <br /><br />It possible we will see a big surge in hiring of people to sort out the administrative mess of Obamacare this year, or not.<br /><br />Go SeaHawks!Mr Slipperynoreply@blogger.com