Submitted by Econbrowser
American energy consumption is dropping. But will falling gasoline prices reverse that trend?

From today’s the Wall Street Journal:

Consumers are buying fewer sport-utility vehicles and more energy-saving washing machines. Some trucking companies have rejiggered their engines to max out at lower speeds. Gridlock is easing in California. Americans drove 966 million fewer miles in […]

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Submitted by CARPE DIEM
Average Farm Real Estate Value
 

Maps are from the USDA’s National Agricultural Statistics Service. The average farm real estate value has increased by 85% in the last five years, from $1,270 per acre in 2003 to $2,350 in 2008 (see top chart above, click to enlarge). Many Midwest corn and grain states […]

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Submitted by CARPE DIEM
The notion that recycling makes economic sense is rubbish.
Some things are profitable to recycle, some things only make sense to recycle when we consider the environmental effects, some things we would be crazy even to try to recycle. Working out what falls into each category should be done by cost-benefit analysis. Add […]

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Submitted by CARPE DIEM
Why are optimists about the state of the world disproportionately represented by classical liberals, libertarians, and free-market conservatives, while pessimists about the state of the world are disproportionately represented by statists?
Why do left-leaning media such as the New York Times and CNN devote so much ink and airtime alleging that middle-class Americans […]

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Submitted by The Capital Spectator
Is extremism in the pursuit of asset allocation a vice or a benefit? To be precise, is routinely holding one asset class to the exclusion of all others a wise choice for the long run?
Anecdotal evidence suggests that most strategists prefer a broad array of asset classes for clients. Arguably, history […]

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Submitted by CARPE DIEM

From First Trust economists Brian Wesbury and Bob Stein:

The U.S. is becoming an export superpower. The trade deficit declined substantially in June, with exports up 21.1% versus last year, the fastest growth in the past twenty years (see chart above). Largely as a result of this report, the real GDP growth rate […]

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Submitted by CARPE DIEM
In my judgment, there is a problem of balance between research and teaching in American colleges and universities. Most of the problem comes from the fact that government subsidies have undermined market forces.

By and large, the government subsidizes colleges, not students. Federal and state financial support, although based on the enrollment […]

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Submitted by CARPE DIEM
Exhibit A: Maryland’s $2 a pack cigarette tax, see yesterday’s post.

Exhibit B: Chicago’s new bottled water tax, which has brought in just $2 million since going into effect on January 1 through the end of May, far off track for the $10.8 million Chicago city officials hoped it would raise this […]

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Submitted by CARPE DIEM
Teenage unemployment (16-19 years old, seasonally adjusted) for July (20.3%) was at the highest level in more than 15 years (see chart above, data here). It seems like that would be pretty newsworthy, but it received almost no media attention.

A Google News search for “teenage unemployment 20.3” resulted in only […]

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Submitted by Econbrowser
The dollar is on the rebound against the euro [0], [1]. The non-oil trade deficit is shrinking as a share of GDP [2]. Is this a replay of the 1980’s adjustment process?
A month ago at a conference in Siena, Gian Maria Milesi-Ferretti outlined the similarities and differences between the two episodes cogently (while […]

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Submitted by A Dash of Insight
Paul is a client.  He is a very intelligent entrepreneur with a successful business.  He wisely chooses to diversify his principal business by taking profits and investing.  His question is one facing every individual investor.  When and where should he invest?
Paul is frightened.  He reads extensively.  Most of what he […]

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Submitted by CARPE DIEM
Sri Lanka is melting its coinage and minting less valuable coins amidst booming commodity prices and rising inflation at home, continuing a tradition of monetary debasement that dates back to ancient monarchies. Central Bank Governor Nivard Cabraal says the monetary authority is cutting the cost of the coin issue by melting existing […]

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Submitted by CARPE DIEM
Humiliating to human pride as it may be, we must recognize that the advance and even the preservation of civilization are dependent upon a maximum of opportunity for accidents to happen.

The successful politician owes his power to the fact that he moves within the accepted framework of thought, that he thinks […]

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Submitted by CARPE DIEM
Take Care Health Systems, a wholly-owned subsidiary of Walgreens (NYSE, NASDAQ: WAG) and one of the largest managers of convenient care clinics, is now offering school and sports physicals for $25 at Take Care Clinics nationwide. Take Care Clinics, located at select Walgreens drugstores, provide high-quality, convenient and affordable health care to […]

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Submitted by CARPE DIEM
Chart above (click to enlarge) shows gas prices (blue line) falling to 3-month low, and oil prices (red line) falling to 3.5-month low (link).
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