Submitted by CARPE DIEM
From “Making Sense of Income Inequality” by Diana Furchtgott-Roth:
1. Percent of bottom quintile households who own their homes free of debt: 30%
2. Percent of top quintile households who own their homes free of debt: 17%
3. Percent of top quintile households who have two or more earners: 75%
4. Percent of bottom quintile […]

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Submitted by Businomics Blog
If the Halloween season has whetted your taste for horror stories, why not go for something scarier than a chain saw massacre or a boy with scissor fingers? Go for a subprime mortgage crisis. Fortune Magazine has one for you called “House of Junk.”
Fortune asked around regarding which pool of […]

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Submitted by Econbrowser
Oil shocks in 1973, 1979, and 1990 were each followed by a recession. But we saw the price of oil climb from $20 a barrel in 2002 to $75 a year ago, and so far it has not resulted in a significant economic downturn. What’s different now, and can we count on it […]

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Submitted by CARPE DIEM

Using data from this U.S. 2006 Department of Education report, the graph above (click to enlarge) shows average tuition at private schools (elementary and secondary) vs. average per pupil spending for public schools (elementary and secondary) for the 2003-2004 school year.
Average private school tuition ($6,600) was about 1/3 less than the […]

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Submitted by CARPE DIEM

A previous post documented the 10X increase in the real cost per public school student from 1929-2007. Why has the cost of public education increased so much in real terms?
One important factor is the increase in the number of public school employees in relation to student enrollment. From the Cato Institute […]

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Submitted by CARPE DIEM

Oil prices hit a record high of $92 a barrel on Friday and some analysts say oil could climb pass $100 soon. U.S. Treasury Secretary Paulson said yesterday that the continued rise in oil prices was “not a positive” for the economy, but downplayed its impact, noting both employment and the economy […]

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Submitted by CARPE DIEM

(Note: Graph and post have been updated.)
Using these data from the U.S. Department of Education and oil prices from Global Financial Data, the graph above (click to enlarge) shows expenditures per pupil in public elementary and secondary schools from 1929-2007, adjusted for inflation, and oil prices during the same period, also adjusted […]

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Submitted by CARPE DIEM
(Bloomberg) — Nissan Motor Co., Japan’s third-largest automaker, eventually may export low-cost, Indian-built cars to the U.S. to tap demand in the world’s biggest vehicle market.
The autos may sell for less than $5,000, even after modifications to meet U.S. safety and emissions standards, Chief Executive Officer Carlos Ghosn told reporters yesterday at […]

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Submitted by CARPE DIEM
Financial Times: Russia is introducing Soviet-style price controls on some basic foods in an effort to prevent spiralling prices from denting the Putin administration’s popularity ahead of parliamentary polls in December.
The country’s biggest food retailers and producers have reached an agreement, expected to be signed with the Russian government on Wednesday, to […]

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