Archive for June 26th, 2008
Posted in June 26th, 2008
Submitted by unsettling economics
I am now in Toronto for the History of Economics meetings. Lucky timing. The fires are continuing Chico. The American Red Cross Disaster Response Team is set up in one of the campus buildings. Arnold Schwarzenegger came to town yesterday to see how bad it was.
Fires and floods are becoming commonplace. Our […]
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Posted in June 26th, 2008
Submitted by The Capital Spectator
The Federal Reserve yesterday talked about fighting inflation by raising rates, but so far it’s only talk. But while the central bank chatters, inflation expectations continue creeping higher.
Consider the yield spread between the conventional 10-year Treasury and its inflation-indexed counterpart, a.k.a., the 10-year TIPS. The difference between the two yields is […]
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Posted in June 26th, 2008
Submitted by A Dash of Insight
We continue to believe that the Dodd/Shelby housing bill is important for financial stocks and the market as a whole. Yesterday’s 83-9 vote on cloture, the Senate process for limiting debate, seemed to signal passage.
After the market close today it became apparent that there are additional hurdles, suggesting that the […]
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Posted in June 26th, 2008
Submitted by Econbrowser
Arnold Kling poses a question for Paul Krugman. Here’s how I would answer.
Kling writes:
Early in 2007, the price of oil was $60 a barrel. Recently, it has been above $130 a barrel. Which of the following does Paul Krugman believe:
(a) market fundamentals justified $60 a barrel then, and they justify $130 a barrel […]
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Posted in June 26th, 2008
Submitted by Econbrowser
Ironman has developed a neat tool that allows you to input your vehicle’s typical mileage and then calculate how much money you’re likely to save on a particular trip by driving slower. Pretty cool!
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Posted in June 26th, 2008
Submitted by CARPE DIEM
CNBC: How do you think the tax code should be changed?
Warren Buffett: I think the super-rich should pay more and people in the middle-class and lower should pay less. I think there should be a major overhaul of the payroll tax. I think guys like me should pay more.
Dear Mr. Buffett:
If […]
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Posted in June 26th, 2008
Submitted by CARPE DIEM
WSJ reports that “Home resales rose to a 4.99 million annual rate, a 2.0% increase from April’s unrevised 4.89 million annual pace, the National Association of Realtors said Thursday. The median home price was $208,600 in May, down 6.3% from $222,700 in May 2007. The median price in April this year was […]
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Posted in June 26th, 2008
Submitted by CARPE DIEM
Governor Sarah Palin of Alaska (pictured above) submitted this letter to Senate Majority Leader Harry Reid (D-NV) on the importance of the Arctic National Wildlife Refuge (ANWR) to address the energy crisis. Sen. Reid is a staunch foe of opening ANWR and has a long track record blocking ANWR legislation. Gov. Palin’s […]
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Posted in June 26th, 2008
Submitted by CARPE DIEM
Details here about the Lucchese classics above in full Black American Alligator Garment Belly, available for $9,639 from “Affordable” Western Wear.
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Posted in June 26th, 2008
Submitted by CARPE DIEM
U.S. immigration policy should be: A nation cannot have too many highly educated people, so send us your PhDs yearning to be free.Instead, U.S. policy is: As soon as U.S. institutions of higher education have awarded you a PhD, equipping you to add vast value to the economy, get out. Go home. […]
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Posted in June 26th, 2008
Submitted by CARPE DIEM
Campaign season is just getting warmed up, but looking back on the primaries we’ve already seen plenty of the usual fare: candidates shaking hands, hanging out at diners, and scaring voters about foreigners who are taking your jobs.
Like technology, trade gives us more good stuff than bad — yet Americans are likely […]
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Posted in June 26th, 2008
Submitted by CARPE DIEM
Click maps to enlarge.
Alaska is more than twice the size of Texas and is equivalent to the entire 20 states on the Eastern Seaboard, from Maine to Florida and west to Tennessee (see top map).
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Posted in June 26th, 2008
Submitted by CARPE DIEM
What happened in 2001? Oil prices plunged by 33% and went from almost $30 to below $20, at the same time that “excessive speculation” was increasing, at least measured by open interest of oil futures contracts? Isn’t speculation and futures trading supposed to drive prices up, not down?
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