Archive for June 23rd, 2008
Posted in June 23rd, 2008
Submitted by CARPE DIEM
In a stagnant economy, an oil star shines in Texas.
To find a hot spot where soaring oil and commodity prices and the booming economies of the developing world are keeping cash registers ringing and construction crews fully employed, you don’t have to trek to Dubai or Moscow. You need travel only as […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
Listening to politicians, you’d think that every family should own its home — in fact, that you’re not a real American unless you’re a homeowner. Because the I.R.S. lets you deduct mortgage interest from your taxable income but doesn’t let you deduct rent, the federal tax system provides an enormous subsidy to […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
New oil development technology, developed over 30 years on Alaska’s North Slope, will allow companies to tap underground producing reservoirs with a much smaller “footprint” on the surface.
When Prudhoe Bay was developed in the 1970s, about 2% of the surface area over the field, or 5,000 acres, was covered by gravel for […]
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Posted in June 23rd, 2008
Submitted by The Capital Spectator
Inflation is increasingly a global concern. Yes, the risk is still far below the levels that raged in the 1970s and early 1980s, but investors are starting to worry nonetheless. Certainly it’s a sign of the times when the indomitable Ben Stein is wary.
One measure of the collective anxiety can be […]
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Posted in June 23rd, 2008
Submitted by Econbrowser
The recently announced Saudi oil production increases are more modest than had been suggested in some of the earlier rumors. The Oil Drum ([1],[2]) is your source for the meaning of the latest announcements.
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
I often ask my students, “How many of you are in favor of conservation?” Every hand goes up. I then ask, “How many of you are in favor of speculators?” and almost no one raises his hand. The students see conservation as a noble activity that prevents people from squandering resources now […]
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Posted in June 23rd, 2008
Submitted by A Dash of Insight
It was a difficult week for investors, almost regardless of market sector. As we have observed in our last several updates, a general deterioration in market sectors helps the investor get a good feel for the overall market. Last week we wondered whether there was anyplace to “hide”. We noted […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
Michigan’s May unemployment rate of 8.5% is the highest in the country, and it’s not even close: The state with the next highest jobless rate is Rhode Island at 7.2%, more than a full percentage point below Michigan. And compared to South Dakota, the state with the lowest rate of 2.9%, Michigan’s […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
Heartbroken Ian Usher is selling his entire life on eBay - because it has too many painful memories of his marriage break-up. Ian, who emigrated from England to Australia six years ago, is offering his three-bedroom house (pictured above), furniture, car, motorbike, jetski and parachuting gear to the highest bidder.
He is even […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
Bid on Ebay for a Power Lunch with Warren Buffett, current high bid is $40,100.
Mr. Buffett will dine with the winning bidder and up to 7 friends at “Smith and Wollensky” in New York, which has been called “the steakhouse to end all arguments” by The New York Times. A mutually agreed […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
In economics, the cross price elasticity of demand measures the responsiveness of the quantity demanded of one good (X), to a change in the price of another good (Y).
As gas prices have soared, consumers have cut back on the amount of gas purchased (measured by the price elasticity of demand, which would […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
General Motors was founded in Flint, Michigan by auto pioneer William Durant, who combined Buick with an assortment of other auto manufacturers and parts suppliers on September 16, 1908. In the next few years, Durant and GM added automakers Oldsmobile, Cadillac, Elmore, and Oakland (later known as Pontiac), along with Reliance Motor […]
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
Search volume on Google Trends for “speculators” and “gas prices.”
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Posted in June 23rd, 2008
Submitted by CARPE DIEM
2008: Is everything spinning out of control? Midwestern levees are bursting. Polar bears are adrift. Gas prices are skyrocketing. Home values are abysmal. Air fares, college tuition and health care border on unaffordable. Wars without end rage in Iraq, Afghanistan and against terrorism.
The can-do, bootstrap approach embedded in the American psyche […]
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