A lot of ink is being spilled over the inventory numbers in the gdp report. So I though I would just post on one of the available monthly data series on inventories.This shows that the real I/S ratio fell sharply in March. But the gdp report includes nodata on March inventories. This implies that the […]
Title: Would Oil Suppliers keep a “gas tax holiday” as profit? Let’s look at some real numbers. The following table is excepted from Exxon-Mobil (as a proxy for Oil Supplier) financial statements 2003-2007. 2003 2004 2005 2006 2007 Revenue $246.7B $291.3 $370.7 $377.6 $404.6 Excise Taxes $(61.5) $(68.2) $(72.3) $(69.6) $(72.7) Operating Profit $32.0 $41.2 […]
In the next few weeks four excellent and dynamic writers will begin posting at Angry Bear on a soon to be determined but regular basis. Many already know the quality of thought and expertise each offers, so it is with great pleasure that we welcome them into the fold of Angry Bear contributors. Bruce Webb […]
Kudlow Looks at Energy So I’m playing with some data from the Department of Energy’s Energy Information Administration this morning. Their Table 1.1 gives you an energy overview – showing energy production, imports, and exports. I halt for breakfast, at which point I read this piece by Kudlow and almost choke: Democrats are now calling […]
The rather symbolic arguments and passion demonstrated about the gas tax holiday illustrate the odd and quixotic nature of what catches our imagination. The $30 I save over the summer has more relevance to my life than the lost $$$$$ (hundreds?) out of my pocket each year, and the notion of security dribbles away as […]
Back on April 20th I presented my introduction to a book by Will Hutton: The Writing on the Wall. First, the book is 334 pages. The list of references 39 pages. There is a lot I could cover. But this is the Angry Bear which I view as being about US(of A). It is this […]
Paul Caron at The Tax Prof Blog provides a long listing of links to the furor over the gas tax issue. And he offers thorough review as well. I agree with the order of the listings in importance.
The Wall Street Journal and others are looking at the headline numbers and reporting that we are seeing another report of moderate employment declines like the last few. But hours worked fell -0.4%, a significantly laarger drop then in the last few months. Moreover, average hourly earnings were only up 0.1% and average weekly wages […]
The Vancouver Sun notes that a new carbon tax has begun in British Colombia. I do not know how it is implemented, but want to note the start of an experiment at the least. The carbon tax is a fiscal trip to the woodshed for energy consumers. A painful experience that we’re told is for […]
There is a steadily increasing drumbeat of accusations by American officials such as Rice, Mullen, CIA, regarding Iran’s role in Iraq and their nuclear capabilities, and more ultimatums from Maliki regarding militias.