Why Do Air Traffic Controllers Fall Asleep on the Job? Because They Want a Three-Day Weekend
Professor Mark J. Perry's Blog for Economics and Finance
From an Investor's Business Daily editorial on Earth Day in 2009, featured on Carpe Diem here (the IBD link no longer works):
Key Findings of the "Startup Outlook 2011" released today by Silicon Valley Bank:
Kohler introduces Numi, the world's most advanced, high-tech toilet with a motion-activated lid and seat, an integrated air dryer, heated seat, deodorizer, feet warmer, and built-in speakers with pre-programmed audio, touch-screen remote control, etc.
A few adjustment in today's NY Times editorial: "
The Conference Board reported today that its Leading Economic Index (LEI) increased again in March (see chart above), which is the 24th consecutive monthly increase starting in April 2009 just before the recession officially ended in June of that year. The last time the Leading Economic Index increased every month for a two-year period was in the early 1970s, almost 40 years ago.
1. The underwear indicator is rising. (ht/Mike LaFaive)
The chart above shows the relationship over time (from 1979 to 2007) between: a) the top marginal income tax rate, and b) the share of total income taxes paid by the top 1% (data). In 1979 the top marginal income tax rate was 70% and 18.3% of the total taxes paid were collected from the top 1% of taxpayers. By 2007 the top tax rate was 35% (half of the 1979 rate), and the tax share of the top 1% had more than doubled to 39.5% (from 18.3% in 1979).
Canadian Success Story, Men In Kilts, Launch First US Location in Seattle, according to this Press Release:
1. USA Today article "Tech Boom Like It's 1999" -- "Tech workers like Mersy are coveted commodities as the high-tech industry undergoes its biggest hiring binge in more than a decade. Not since the dot-com bubble of the early 2000s has competition been so fierce. Would-be employees are being enticed with fat contracts, hefty bonuses and such freebies as iPads, meals, sporting events and shuttle services. These and other perks are in play to hook top talent in engineering, social media, website development, product design and management.
The chart above shows how the monetary expansions known as QE1 and QE2 have expanded the monetary base (blue line) in about the same proportion as the increase in the excess reserves that banks are holding (red line, data here). Why are banks holding so many excess reserves, and will those reserves eventually translate into higher inflation?
The website ExpertInsight.com is now offering one-to-one private video chats with economists, authors, bloggers, investment advisors, sports coaches, and poker players. The website is featured in this Bloomberg article.
|Salaries||1988||1988 Salaries in 2011 Dollars||2011|
|Share of Payroll|
New CNN public opinion polls show that:
Zillow.com released housing price data today with home values through February, see the graph above of Zillow's monthly U.S. Home Value Index back to January 1996 (you can also get price data and graphs for more than 100 metro areas, and all states). According to Zillow, its Home Value Index is calculated as the median value (Zestimate) of all homes in a particular geographic area, and for the national index shown above, the housing price data are weighted according to population in each area.
The Paris-based World Federation of Exchanges, an association of 52 regulated stock market exchanges around the world, recently released data on the world stock market capitalization, which increased to $57.8 trillion in March. That was a 39-month high for world equity values and the highest level since December 2007 when the U.S. recession started. Compared to the cyclical low of $26.6 trillion two years ago in February 2009, the total world stock market capitalization has more than doubled to the current level of almost $58 trillion. From the all-time high of $63 trillion in October 2007, the value of world equity markets is currently about 8% below that pre-crisis peak, or about $5 trillion in dollars.
From the Tax Foundation:
The Chicago Federal Reserve Bank recently released a new index called the National Financial Conditions Index (NFCI), which "provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets, and the traditional and “shadow” banking systems. The NFCI is a weighted average of a large number of variables (100 measures of financial activity(pdf)) each expressed relative to their sample averages and scaled by their sample standard deviations. The NFCI is constructed to have an average value of zero and a standard deviation of one over a sample period extending back to 1973. Positive values of the NFCI indicate financial conditions that are tighter than on average, while negative values indicate financial conditions that are looser than on average."
1. The Lost Beatles Photos: Rare Shots From 1964-1966.