Submitted by Econbrowser
The preliminary GDP release today provided a number of surprises. The first surprise was not that GDP was higher than the advance release (given the June trade figures reported earlier this month), but rather that at 3.3% it exceeded the 2.8% (SAAR) of the consensus [0]. The second surprise is that the reduction […]

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Submitted by CARPE DIEM
According to the study “The Distribution of Ownership of U.S. Oil and Natural Gas Companies,” authored by Robert J. Shapiro and Nam D. Pham of Sonecon:
The data suggest that ownership of oil and natural gas company shares is broadly middle-class.

1. 42.7% are owned or held by mutual funds and other asset […]

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Submitted by CARPE DIEM
Real GDP exceed consensus expectations and grew at an annual rate of 3.3% in the second quarter 2008 (see chart above), a significant upward revision from the 1.9% advance estimate one month ago. According to First Trust Advisors, “The largest drag on real GDP continues to be home building, which subtracted […]

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Submitted by CARPE DIEM
Obama thinks government is not getting a “reasonable share” of oil companies’ profits, which in 2007 were, as a percentage of revenue (8.3%), below those of U.S. manufacturing generally (8.9 %). Exxon Mobil pays almost as much in corporate taxes to various governments as the bottom 50% of American earners pay in […]

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Submitted by CARPE DIEM
Romney: 45%

Pawlenty: 21%

Hutchinson: 16.1%
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