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Mark Gongloff
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Entries by Mark Gongloff

Elon Musk Teases Mysterious New Tesla Product

(21) Comments | Posted March 30, 2015 | 1:27 PM

Elon Musk announced on Monday that a new, mystery Tesla product is coming:

No...

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The Fed Threatens To Raise Interest Rates, Which Could Be A Big Mistake

(113) Comments | Posted March 18, 2015 | 12:06 PM

The Federal Reserve has lost its patience with interest rates. Let's hope it doesn't lose the economy in the process.

Fed policy makers on Wednesday stopped promising to be "patient" about raising interest rates from rock-bottom levels, a sign their first rate hike could come in June. The...

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Why You Should Really Go To College, In 2 Charts

(49) Comments | Posted February 20, 2015 | 11:48 AM

Some people might tell you not to go to college. Don't listen to them.

People who go to college make more money, a lot more money, than people who don't. A chart from the latest Economic Report Of The President, a giant bundle of charts and...

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Job Openings Jump To Highest Levels Since 2001

(111) Comments | Posted February 10, 2015 | 11:04 AM

"Help wanted" signs are popping up everywhere: There were more than 5 million jobs available in the U.S. at the end of 2014, the highest number since early 2001, the Bureau of Labor Statistics reported on Tuesday.

job openings

The number of jobs available has...

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This Guy Just Made $1 Billion Betting On Oil Prices

(77) Comments | Posted January 21, 2015 | 10:38 AM

You know what's cool? An oil-price collapse that saves you a few dollars when you fill up the Escalade. You know what's cooler? An oil-price collapse that makes you ONE BILLION FREAKING DOLLARS.

A hedge fund called PointState Capital is currently enjoying that second state of cool, Bloomberg...

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The Sad State Of America's Middle Class, In 6 Charts

(201) Comments | Posted January 20, 2015 | 11:11 AM

In his State of the Union address Tuesday night, President Barack Obama is expected to propose throwing a lifeline to America's middle class. It could really use one.

His ideas -- including tax increases for the wealthy and tax cuts for the middle class -- might or might...

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3 Reasons The Euro Just Crashed To Its Lowest Level In 11 Years

(93) Comments | Posted January 16, 2015 | 11:33 AM

Book that European vacation now, America: It hasn't been this cheap in 11 years.

The euro was in a crashy mood on Friday, briefly falling to its lowest level against the U.S. dollar since November 2003, according to Bloomberg. One euro is now about $1.15, down from about...

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Consumer Prices Just Fell The Most In 6 Years. Start Worrying

(222) Comments | Posted January 16, 2015 | 10:36 AM

Good news, consumers: Everything's on sale! The bad news: Low, low prices aren't always such a great thing.

The U.S. consumer price index tumbled 0.4 percent in December from the month before, the Bureau of Labor Statistics reported on Friday, led by a 9.4-percent crash in the...

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Oil Prices Actually Aren't That Low, Historically Speaking

(16) Comments | Posted January 13, 2015 | 3:23 PM

Oil is cheap, but it could still be cheaper.

Everybody's talking about how oil prices have crashed from more than $100 a barrel to less than $50 a barrel in just a few months. This has been great for American drivers, pushing gasoline prices down to less than...

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Here's A Chart That Should Have You Just A Little Bit Worried

(89) Comments | Posted January 7, 2015 | 10:28 AM

If you're a frequent borrower of money, for stuff like education and cars and lip implants, you might think that low interest rates are good. But be warned: Sometimes they're not all that good.

Take right now, for instance. Interest rates are low, and they keep getting lower....

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Look At How Cheap Gas Is Everywhere

(195) Comments | Posted January 6, 2015 | 10:01 AM

It's not just your town: Gasoline is cheap pretty much all over the country.

The map below, from gas-price tracker GasBuddy.com, shows the average price per gallon of regular unleaded gasoline in each U.S. county. See that big sea of green in the middle of the country? That's where gas...

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Sony Hack A Reminder To Stop Saying Stupid Things In Email

(25) Comments | Posted December 18, 2014 | 2:47 PM

One of the most shocking revelations to come out of the Sony hack is that people are still saying stupid things in email.

For the zillionth time: You have to assume that everything you write in an email, instant message, or text -- any written communication, really -- will be...

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Cuban Cigars About To Become Legal Again

(182) Comments | Posted December 17, 2014 | 11:22 AM

It’s the end of an era: Cuban cigars are about to become legal again in the U.S.

President Barack Obama’s loosening of trade and diplomatic relations with Cuba, announced on Wednesday, includes a provision that lets American travelers to Cuba bring back $400 worth of Cuban goods, $100...

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ルーブル暴落、1998年のロシア金融危機よりも危機的な事態になる可能性

(2) Comments | Posted December 17, 2014 | 12:06 AM

原油価格の急落と経済制裁によって、ロシア経済が崩壊の危機に瀕している。「ウラジーミル・プーチンのような独裁者には自業自得だ」と思う人もいるかもしれないが、この影響は世界中に波及するおそれがある。

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Why You Should Care About The Collapsing Russian Ruble

(743) Comments | Posted December 16, 2014 | 7:50 AM

Plunging oil prices and economic sanctions have pushed Russia's economy to the brink of collapse. "Couldn't happen to a nicer dictator than Vladimir Putin," you might be thinking, but it could have repercussions for all of us.

Russia's currency, the ruble, crashed to record lows against the U.S. dollar on...

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Bank Analyst Actually Uses 'I Can't Breathe' As Title Of Research Note

(3) Comments | Posted December 10, 2014 | 10:22 AM

There are appropriate occasions to knowingly use the now-loaded phrase "I can't breathe," and there are less-appropriate occasions.

An appropriate occasion: during a march to protest the failure to indict the Staten Island policeman responsible for the death of Eric Garner, whose last words, repeated again and again...

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Uber's Value Just Doubled To $40 Billion In 6 Months (Sorry, Haters)

(41) Comments | Posted December 4, 2014 | 1:06 PM

While many of us have spent the past six months getting mad at Uber, Uber has spent the past six months making $22 billion magically appear.

The ride-sharing app maker, a lightning rod for controversy, announced on Thursday that it has raised $1.2 billion in new funding, bringing...

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社会的格差は800年以上前からずっと続いていることが判明(研究結果)

(8) Comments | Posted November 26, 2014 | 1:32 AM

最新の経済学研究によると、われわれの社会的地位には「流動性」が無い。しかもそれは、1世代の問題ではなく、複数の世代にわたって長く引き継がれているという。多くの人にとっては気の滅入るような話だ。

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You're More Likely To Inherit Your Dad's Social Status Than His Height

(15) Comments | Posted November 24, 2014 | 11:04 AM

Social mobility is a myth.

That is the depressing conclusion -- or, if you're already part of the social elite, the great news -- of a new study by economists Gregory Clark of the University of California, Davis, and Neil Cummins of the London School of Economics. The...

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Everybody's Quitting Their Jobs Now

(91) Comments | Posted November 13, 2014 | 10:51 AM

Quit your job, help the economy.

More than 2.7 million Americans, or 2 percent of all workers, quit their jobs in September, the Bureau of Labor Statistics reported on Thursday. That's the highest "quit rate" since April 2008, when the Great Recession was still a toddler:

This is usually a good sign for the economy. People usually don't tend to tell their bosses to kiss off unless they either a) are trapped in an hypnotic state, Office-Space-style, b) have another job lined up, or c) at least feel pretty confident they can get another job.

Quitting one job for another can also be a good way to get a raise, so a higher quit rate could be a sign that wages are finally going to stop being so stagnant and terrible.

On the other hand, some of the highest quit rates were in low-wage industries like hotels, restaurants and retail. Hopefully those people are getting better-paying jobs, but the raises might not be all that large.

This is basically America now

And the BLS also reported that there are still two unemployed people for every one job opening in America -- much better odds than at the worst of the recession, when nearly 7 people were fighting for 1 job, but still not exactly a sign of the kind of super-tight labor market that could push wages higher.

This chart from the Economic Policy Institute, a think tank focused on labor issues, shows how the job-seekers-to-jobs ratio has risen and fallen in recent years:

not enough jobs

Back in the good old days of 2000, there was roughly one job for every one unemployed person. That's just about job-market nirvana. We're not quite there yet.
...

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