A New Year — Happy or Not

by on January 1, 2017

I am not going to become involved in endless analysis of Trump's presidency. I think we ought let it speak for itself.

Nor am I [more…]

Interest Rates, Faith, and Democracy

by on December 15, 2015

What a pickle!

The Federal Reserve Board's meetings have become a media event. The last few days - weeks if you want to be more [more…]

Interest Rate Mania

by on October 29, 2015

People keep asking me about interest rates. I wish they would stop. The question always make me feel like mimicking Eugene Fama: rates are rates. [more…]

Health Care Reform Costs – Fact or Fiction?

by on February 11, 2015

Oh dear. I think I've just wasted a morning. Here's the story: a friend of mine points me to an article in the New York [more…]

Employment Recovers

by on December 9, 2014

Just a very quick note regarding last week's employment numbers.

They were good. That's all we need to know. It's been a long time since [more…]

Signs of Life? Part 3

by on December 6, 2013

OK, let's end the week with one last optimistic hurrah. Today's employment report was pretty good. That's probably less enthusiasm than you will sense in [more…]

Employment Numbers: Endless Drift

by on July 5, 2013

This morning we have been treated to an odd spectacle. Wall Street was very wrong about the number of jobs generated by the US economy [more…]

Weak Jobs Report

by on April 3, 2013

This week brings us the two monthly snapshots of employment: today's ADP data, and Friday's government report. Unfortunately ADP didn't get us off to a [more…]


by on March 8, 2013

Today's employment report looks good. It's as simple as that. We don't even need to spend time to pick apart its nuances. There aren't many.


Jobs Report

by on January 4, 2013

I would be remiss not to remark on this week's employment news. The economy added a decent 155,000 jobs in December. Coincidentally that is almost [more…]