Baptized on Credit
Pretty interesting graph there. Household debt was going up all the while, but housing appears to have alternated with other priorities. Not what I would have expected.Also, there may have been a stable range until the mid-1980s, when the pattern takes on a decided upward slant.Hey, I have an off-topic question for ya. You do a lot of graphs, things I never looked at. What would you use to get a graph of "wage share in the U.S." or "compensation of employees as a share of personal income"I guess PI, personal income. And I've looked at "compensataion of employees" but I don't remember where I got the data and I don't think FRED has it.The reason I ask -- I made a couple comments at Naked Keynesianism here:http://nakedkeynesianism.blogspot.com/2013/01/wage-share-in-us-1959-2011.htmland I can't say much else about the graph there unless I look at the numbers. Any ideas?
Oh, the guy got back to me.W209RC1is compensation of employees(and FRED does have it, of course.)Thanks anyway.
Art,The mid-1980s is a time period I have had difficulty understanding in regards to various economic trends: saving and loans crisis, Reaganomics, and oil price collapse all come to mind as contributors to any trend in that general timeframe.In regards to the NK post: it looks like the 1970 and 1975 recessions had impacts on the 'wage compensation' portion of personal income. Certainly there was a change in personal saving and personal saving after 1980 - corresponding to lower interest rates on saving accounts.One data set in the same series as W209RC1 that I like to look at is PCTR (personal current transfer receipts) - mainly composed of transfers from the government to the household sector. Definitely an interesting data series.
*personal saving and personal consumption
Thanks Luke. Looks like the PCTR roughly tripled as a percent of personal income over the full period. And the W209RC1 declined.I was a bit surprised by Matias reply at NK: "There is no trend in the 1970s..." he says. Granted, I just eyeballed his graph. But Matias and I read his graph two different ways.I think a lot of people put politics before graph-reading, and tend to see things in graphs that fit the "since Reagan" perspective.I guess I do the same, interpreting everything in terms of my view of the growing dominance of finance. Oh well :)Thanks for the FRED help.