Tweet For a variety of reasons, I want to post this graph here. It is constructed by me from the St. Louis Fed’s FRED Data from two different FRED files: total number of manufacturing workers in the U.S.  (“MANEMP“) and total number of nonfarm workers in the U.S. (PAYEMS). It shows – from 1939 through 2024 – the percentage of nonfarm workers in America employed in jobs classified as “manufacturing.” This percentage peaked in 1943 (at just shy […]

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Recent policy developments have highlighted contrasting approaches to oil production in the Gulf of Mexico. President Biden has implemented measures aimed at restricting increases in oil production in the Gulf of Mexico, while President-elect Trump has expressed intentions to reverse these restrictions to enhance oil and gas production. This raises an intriguing question central to economic analysis: Can market forces alone account for all the potential outcomes of oil production in a way that best serves individuals and […]

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We may be in the New Year, but James Bovard is not ready to put the craziness of 2024 in his rearview mirror. Here are some epigrams he wrote to explain the madness of an election year.

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Modeling Homer’s World An economic approach to Homer’s Odyssey1 is most definitely not about “what Homer really meant.” Instead, the economic approach views Homer through a lens that Homer himself probably never entertained, namely a series of relatively simple models about preferences and constraints. The economic approach is thus a distortion, but perhaps a useful or interesting distortion. It is taking the richness of ideas, presentation, and narrative in Homer and remixing it. For all the complexity lost, […]

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By Financial Sense Jan 2, 2025 – Veteran market strategist Felix Zulauf, CEO of Zulauf Consulting, recently warned of a looming market bubble, liquidity challenges, and heightened risks for 2025. Zulauf describes the current US stock market as one of the most…

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