I track electricity production and for the year-to-date
production is up only 2.8% over a year ago. There is some weather in
this number, up or down, but I don't believe we can be calling this a
"boom" with electric production up only 2.8%. All those fully-employed
factories must hav
The central bankers' Rocky Mountain comments are
puzzling. How and why is there a sudden consensus on
a new natural level of full employment?
I take this as a challenge to business interests, with
the central banks saying "we've done all we can for now,
unless you're willing to put the financia
Let me add a couple of quotes from the Wall St. Journal article I mentioned.
"With budget deficits restraining governments in the U. S. and Europe
from increasing spending or cutting taxes, the task of fighting
unemployment in recent years has fallen to the Federal Reserve and other
central ban
Yesterday's Wall St. Journal had a front page column which raised
questions about the Fed's policy (?) of striving for full employment.
The San Francisco Chron carried a feed from the LA Times pointing out
that the Fed is getting a pass from everybody in asserting that we are at
full employme
