The first has to do with how ethanol has muscled out alternative uses of farm land:
Thanks to government for higher food prices and damage to the environment. Your tax dollars at work.
The second has to do with the recent media’s trumpeting of high jobless claims. It turns out that the raw numbers of jobless claims are higher indeed but they are below average as a percentage of the labor force. (Shaded areas represent past recessions.)
Thanks to the media’s misleading numbers we have been entertained with another jobless “crisis.” BTW, to the extent that jobless claims are on the rise you might give some thought to recent and forthcoming (next month) increases in the minimum wage.
Mark Perry is a very good economist. You can find more of his useful insights daily here.
Posted by Harry Messenheimer