Our story begins during February when Russian Prime Minister Putin decided to freeze gasoline prices. Oil companies had a predictable response. They left. Following the money, they redirected their supply to higher prices elsewhere. The result? Russian gasoline exports were…
Health and GDP
We are taller, healthier, heavier, and living longer. In 1790, a typical Frenchman weighed 110 pounds. Now, the scale says 170. That 60-pound difference relates to a lot more than food. According to a new book from Nobel prize winning…
A Tank of Gas
A tank of gas is not just a tank of gas. Isn’t it a spending decision? The national average for a gallon of regular is close to $3.88 and higher in California. July 2008 was the last time we dealt…
Money and Happiness
It is possible, after all, that money can make us happy. A recent Brookings paper from 3 University of Pennsylvania researchers concluded that people experience greater “subjective well-being” or life satisfaction when they are more affluent. Comparing rich and poor…
“Buy Australian?”
In Australia, concerned about the impact of twin disasters in Queensland this summer, Australia is saying, “Buy Australian.” But they just faced an unexpected problem. The T-shirts they are using to publicize the campaign were made in Bangladesh and the…
Egg Surprises
Egg prices are actually down. Averaging $1.73 a dozen during March, egg prices have fallen by 5% from March a year ago. So, yes, the CPI says the increase for food prices is up 2.7% during the past 12 months…
Green Elasticity
Sales of Nature’s Source Scrubbing Bubbles tub have plunged by 61%. At Stop & Shop, “Eco-friendly” people are switching from Clorox Green Works All-Purpose Cleaner to traditional Fantastic. Why? Because Fantastic is 40 cents cheaper. According to the NY Times,…
Income Tax Matters
Woodrow Wilson once said that paying taxes was a “glorious privilege.” However, a recent Gallup poll confirmed what we probably already knew. Most of us do not want to pay higher taxes. Upper income households (67% of those polled) say…
Federal Spending Questions
Hearing the following, one Washington Post reporter said, “Four pinocchios.” In a February survey of 801 “likely” voters, a majority (63%) said that the biggest budget items were defense and foreign aid. Also, they suggested controlling waste, fraud, and abuse…
Aspirational Pecans
Our story starts with the walnut. Loved in China, and always cheaper than pecans, during 2007, suddenly, the walnut became relatively expensive. Following the law of demand, Chinese consumers bought fewer walnuts and more pecans. And that was when they…
