Michael Giberson Just a few months ago, oil prices were scrambling upwards and the sky was no limit. From the New York Times in May: Arjun N. Murti … foresees a “super spike” — a price surge that will soon drive crude oil to $200 a barrel. An analyst at Goldman Sachs, Mr. Murti has …
Lynne Kiesling With all of the blather about how an economic downturn will reduce the demand for oil, and with oil prices hovering around $80 right now, this WSJ Environmental Capital post is a welcome reminder that market processes are about the intersection of supply and demand. An economic downturn will also reduce the resources …
Even Oil Market Processes Are About the Interaction of Supply and Demand Read More »
Michael Giberson The U.S. Conference of Mayors trumpets a study predicting a boom in green jobs. (A green job, for this study, is a job “devoted to the reduction of fossil fuels, the increase of energy efficiency, and the curtailment of greenhouse gas emissions.”) According to a groundbreaking study establishing a national Green Jobs Index, …
Why a Big Increase in “Green Jobs” Might Be a Bad Sign Read More »
Michael Giberson The recent “first rough draft of history” will need some editing to smooth out the narrative. Pity the poor newspaper reporters and headline writers who daily examine stock market movements and then try to write an account of what it all means. Last Tuesday, the Wall Street Journal featured on the front page: …
Lynne Kiesling In Monday’s Washington Post, Sebastian Mallaby argues that blaming deregulation for this financial crisis is both false and dangerous: So the first cause of the crisis lies with the Fed, not with deregulation. If too much money was lent and borrowed, it was because Chinese savings made capital cheap and the Fed was …
The Fallacy, and Danger, of Blaming Deregulation Read More »
Lynne Kiesling When Steve Horwitz says that we have to control the narrative in the wake of the bailout plan’s approval, here’s one example: following up on a link to a 2004 UCLA press release, I found this paper: “New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis” Harold Cole …
Lessons from the Depression: Emergency Policies Can Prolong Weakness Read More »
Lynne Kiesling Global economic weakness and the end of hurricane season mean that gasoline inventories are rising and prices are falling.
Lynne Kiesling In light of Tyler’s observation yesterday that things are going badly if the Fed guarantees commercial paper, I offer without comment this news item: The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the …
Lynne Kiesling Welcome to Hit & Run, Instapundit, and Volokh Conspiracy readers, and thanks to those respective parties for their links. Pro Libertate’s comment from Katharine Mangu-Ward’s post yesterday that linked here wins my prize for the most erudite comment I have seen on our current political environment: Will no one rid me of this …
Michael Giberson Great news! I was reading through some bailout, uh, rescue commentary this morning, and found this political advice from Joel Stein at the L.A. Times: If I were in Congress, I’d hold out. Every representative who voted no on the bailout got something totally sweet in the bill that passed the Senate. Jim …
Copyright © 2022 Knowledge Problem Archive