The Employment Data is a DISASTER! Here's why the official numbers are so far off.

Analysis of BLS data accessed through FRED, the Federal Reserve Economic Data reporting website. | Dangus

[econjack]

Not high school. I have a Ph.D. in economics and taught for 40 years before I retired, finishing up at a Big 10 university.

Stop what? I'm simply telling the truth and how monetary policy via the Fed can only do so much. If you want to use interest rates to curb inflation, devise economic policies that encourage economic growth, capital formation, and rising employment and labor force participation rates. It's monetary and fiscal policy working together that solves problems.

It's in vogue to think that, if I have 90% of the economic pie and you have only 10%, take 40% from me and give it to you to make income equal. Stupid move, as it kills economic incentive and growth and college graduates will continue to live in their parents basement.

Instead, devise policies that encourage me to invest and create new jobs. People forget that if the size of the pie increases in the presence of stable prices, you and I benefit with a larger income and a higher standard of living even if our relative shares are constant. A rising tide lifts all boats.

[dangus]

Actually, it explains a lot that you’re a RETIRED professor.
You condescendingly write as if you’re teaching me something when you’re barely paying attention to what I’ve already written, and you sound like you’re reading from a textbook written in 1980. As I’ve said each time, you’re not wrong. But you also speak to absolutely nothing that has transpired since 2007, and really since long before that.

Case in point, this which is absolutely true, absolutely rudimentary, and absolutely irrelevant to anything I’ve written:

“It’s in vogue to think that, if I have 90% of the economic pie and you have only 10%, take 40% from me and give it to you to make income equal. Stupid move, as it kills economic incentive and growth and college graduates will continue to live in their parents basement.

“Instead, devise policies that encourage me to invest and create new jobs. People forget that if the size of the pie increases in the presence of stable prices, you and I benefit with a larger income and a higher standard of living even if our relative shares are constant. A rising tide lifts all boats.”

[econjack]

Actually, I’ve stayed pretty active since my retirement and have written another 5 books since then. I also speak at various conferences.

I wasn’t trying to speak condescendingly at all. I was simply trying to explain things so readers not familiar with LM-IS curves derivation of monetary and fiscal policy could understand what I was saying. I think my advice on monetary and fiscal policy makes sense. I did pay attention to what you wrote and I think it is misguided, which is why I took the time to post my response.