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From the Notebook

Thor (Marvel Comics)

Image via Wikipedia

-April jobs report had the US economy adding 244,000 jobs, which closely matched the March numbers. This was celebrated in the media, but the news isn’t as good as you might think. The economy needs to add between 110,000 and 150,000 jobs a month (on average) to keep up with new job market entrants. This means, if the economy averages 250,000 jobs every month, in order to recover the 8 million jobs lost in the recession, it will take 57 months of uninterrupted growth. But there’s another problem,  the unemployment numbers don’t count those people who were never employed in the first place during the three years of the recession. This means, at the 110,000 rate, there are 4 million jobs to make up in addition to the jobs lost. If we add this lost generation of workers to the mix, it will take 86 months to fully recover from this recession. That is seven years from now.

-For those wondering, Twins aren’t dead yet. But they’re close. There are plenty of 13/14/15 games back comebacks in the history of baseball. The Twins have a lot of home games left, and a lot of games against their division rivals. This means they do control their destiny. But Mauer needs get back in the lineup for there to be some hope. Also, Morneau needs to get back into form. And Liriano needs to settle into a rythme. And it’d be nice to get Thome back. And Nishioka. And this all needs to happen in the next three weeks or so.

-I don’t know who started referring to blog posts as “blogs” but everyone needs to stop. A blog is a website with posts in reverse chronological order. A post on a blog is one of those entries. So stop saying “wrote a new blog” unless you actually created a new website. Just say “new post at my blog.” Thank You.

-The more I learn about economics, the less I feel I know. It’s frustrating trying to learn all the Keynesian equations and dissect them. What’s worse, there’s a lot of things Keynes was half-right about. I must say though, this recession validates Hayek and other Austrian thinkers who predict that microeconomic forces misallocate resources, providing the primary cause for recessions. The neo-Keynesians just don’t know as much as they claim, their inability to increase aggregate demand enough to lessen unemployment being a big failure of Obama’s stimulus package.

-Saw Thor the other day. The movie was just not worth watching. Effects alone can no longer carry a film. Thor was a story that went nowhere, nothing seemed to happen, and nothing had a point. I’m having difficulty even remembering any important details of the film. Probably because there weren’t any. Also, this film was a two-hour argument against adoption, which annoyed me. Just don’t see it.

-I finished up the “MBA Mondays” series by venture capitalist Fred Wilson on Dailylit. The series was supposed to be a mini-course for people in business who didn’t go through the expense of getting an MBA. Unfortunately, much of the series focused on elements of mergers and acquisitions, something most people in business will never have to deal with (since most people in business won’t ever be VCs or CEOs). Some of the series posts were awesome. On the whole, I would suggest people who are interested in expanding their business knowledge to go ahead and subscribe on Dailylit.

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