Category Archives: Demand

An Open Letter to Alberta Canada

Dear Alberta: The CBC says that Albertans think that non-Albertans do not have sympathy for you. Well, I do. But my sympathy goes beyond the masses of people unemployed. My sympathy extends to you in being duped by economists and … Continue reading

Posted in Demand, Economics, Environment, Labor, Markets, Public Policy, Sociology, Wages | Leave a comment

Oh, Canada…

The CBC is reporting that despite there being a global supply glut in oil, Canada is pumping it out at full bore, then storing it in tankers in the hopes that they can sell it for more money someday. Of … Continue reading

Posted in Demand, Economics, Labor, Macroeconomics, Markets, Public Policy | Leave a comment

Walmart and the Statistically Graveyard Dead (Wonkish)

It’s great news that Walmart is going to be raising the floor wages of all of its workers to $10 per hour. However, there are some Wall Streeters that are saying that it’s great for the labor market as a … Continue reading

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The Economy Equals Wall Street

Some conservative economists from the University of Chicago decided to get their name in the New York Post by claiming that 20% of last quarter’s GDP growth was because of the consumption of Obamacare, thus blaming health insurance for conflated … Continue reading

Posted in Demand, Economics, Health, Macroeconomics, Markets, Public Policy, Statistics | Leave a comment

Canadian Bacon in the Star Trek Economy

As I go off to Ottawa Canada for the next 6 weeks, this curious question from Stephen Poloz, the head of the Canadian Central Bank came up: what would a Star Trek (TNG) economy with no money look like? Yes, … Continue reading

Posted in Demand, Macroeconomics, Markets | 2 Comments

Add Retail Wages to Retail Inflation

I was recently asked in a Graduate Macroeconomics class what I would do to gauge overall consumption. For any economist that has taken a Macro class, the answer was easy, and stock: use the GDP Implicit Price Deflator. But I, … Continue reading

Posted in Demand, Economics, Labor, Macroeconomics, Wages | 1 Comment

The Oil “Pipe Dream”

While it’s nice to have low oil prices, and thus low gas prices, the fact is that there is an oil price war going on between OPEC and everyone else in the world. OPEC is not happy that the United … Continue reading

Posted in Demand, Economics, Environment, Markets, Politics | 1 Comment