Submitted by Businomics Blog
Oil production rose briskly from 2002 through 2004, before appearing to hit a peak in 2005.  That peak fueled more discussion of peak oil theory.  However, rising prices have induced additional supply:

Since last August, however, production has been on the increase again.  (I consider the last observation, April, to be month-to-month noise […]

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Submitted by unsettling economics

 
http://will.uiuc.edu/media/mediamatters080720.mp3
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Submitted by The Capital Spectator
Risk and return are the twin sons of Mr. Market, but the equivalency ends there.
Return doesn’t lend itself to forecasting, at least not in the short term. But when we look further out in time, there’s a bit of transparency at times about what’s coming. Meanwhile, risk’s a bit more reliable […]

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Submitted by Econbrowser
Government statistics, particularly the CPI, have been in the news (e.g., [0]). Following up on my previous posts [1], [2], I want to take a stab at the question posed in the title.
This post focuses on issue separate from the mathematics of the index forumulation, and has to do with what the typical […]

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Submitted by CARPE DIEM
According to the Joint Economic Committee, the share of total federal income taxes paid by the top 1% of tax filers increased to 39.89% in 2006, while the tax share of the top 5% climbed to 60.14%. The income tax share of the top half rose to 97.01%, according to recent Internal […]

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Submitted by CARPE DIEM
Odds of a 2008 U.S. recession have fallen to 17.4% on Intrade.com, from 70% in mid-April, and from about 33% just a week ago (see chart above, click to enlarge).

See post below of +3% real GDP prediction for second quarter 2008.
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Submitted by CARPE DIEM
So predicts First Trust Advisors.
“Eventually, those forecasting recession are going to run out of time. The clock is already ticking and the economy remains resilient.”
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Submitted by CARPE DIEM

THE ECONOMIST — A study in the Lancet Oncology journal compares cancer survival rates across five continents for the first time. Afer adjusting country data from the 1990s, for differences in both age and death rates in the general population, Americans were found to have the best chance of survival for two […]

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Submitted by unsettling economics
Tyler Cowen is my favorite conservative. Sometimes I actually agree with — not very much, but sometimes I do. Today in his New York Times article he advocates means testing for Medicare. He acknowledges the possibility that means testing will make Medicare a welfare program, causing it to lose support — but […]

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Submitted by unsettling economics
The New York Times has a fascinating article about Berea College, a school that has no tuition, but expects students to work 10 hours a week. The school has a healthy endowment of $1 billion, but seems to use it for supporting education rather than fancy buildings.
I never heard of the college […]

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Submitted by CARPE DIEM
There was some lively discussion on this recent CD post (featuring the chart above showing a positive relationship between Wal-Mart stores and small businesses) about Cato’s Wal-Mart study. Cato’s study showed that overall, there was no stasticially significant relationship between the number of Wal-Mart stores per 100,000 residents in a state […]

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Submitted by CARPE DIEM
HT: Timothy Wise
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