- December 23, 2024
AI is Not Slowing Down, Except for Stop Lights
After 25.3 million fully autonomous miles a new study from Waymo and Swiss Re concludes: [T]he Waymo ADS significantly outperformed both the overall driving population
Is Indian food the world’s best?
From my latest Bloomberg column: Why is the food so good? I have several overlapping hypotheses, most of them coming from my background as an
If You Thought Grocery Prices Were High, Wait for Mass Deportation
Wages for farm workers and food processing will likely rise, if the past is any guide. Figure 1: Farm worker wage, 2023$ (blue, left log
Eggs | Econbrowser
Bloomberg points out eggs were big in the PPI, accounting for 80% of the y/y rise (egg prices spiking due to avian flu). I wondered
The Likelihood of a Plaza Accord 2.0
Mark Sobel at OMFIF discusses the likelihood of an new Plaza Accord to depreciate the dollar. Given one would need Euro area and Chinese agreement,
Who’s Real Wage? | Econbrowser
EJ Antoni writes: Today’s employment data showed further gains in earnings, but cumulative price increases have still far outpaced earnings growth over the last 4
The Declining Driving Miles Intensity of GDP
Trend shifted down, but sensitivity up. Figure 1: Log of ratio of vehicle miles traveled to monthly GDP (000’s miles divided by bn.Ch.2017$ SAAR) (blue),
Ruble Devaluation Giveth and Devaluation Taketh Away
Consider the ruble/yuan exchange rate. Figure 1: Rubles per yuan, calculated using dollar rates (blue, log scale). Up is a depreciation of the ruble. Source:
The Ruble under Pressure | Econbrowser
From Politico: The ruble tumbled on Wednesday to its lowest level in over two years, as a mix of low oil prices, new sanctions against
QCEW Employment Change Y/Y to June 2024
The percentage change is less than that for the CES estimate. Does this mean there are a lot fewer people employed that indicated by the
