Econ70
Server farms need lots of energy to cool servers. In ’10 cooling server farms consumed 1.5% of global electricity, and may jump to as much as 5% by ’17 as internet traffic continues to explode. With this in mind, Google…
If you didn’t predict the housing bust, don’t feel bad, the Fed totally blew it too. Reading just released minutes from the ’06 meetings, is hysterically funny were it not so tragically sad. Bernanke was confident of a soft landing…
Greece is adopting severe austerity measures yet is not making enough structural changes to its economy to boost log-run growth to “grow out” of its problems. If Greek growth remains weak, and with Europe in a recession bank on it,…
The Friday File: US album sales rose 3% in ’11, to 458 million; the first rise since ’04. Digital sales are why. They rose 20% (or by 20 million) to 103 million albums while CD sales fell 6% (14 million)…
As standards of living in industrializing nations improve, their population soars. Here’s why. As better sanitation, food and healthcare are introduced death rates in industrializing countries rapidly fall. But, birth rates remain stubbornly unchanged as it usually takes at least…
The Federal Reserve transferred all $76.9 billion of its profit to the Treasury in ’11 down from the record $79.3 billion in ’10. The Fed is profitable because rather than borrowing money, it simply creates what it needs. Thus all…
There are tons of lobbyists in DC because it pays to lobby. A paper out of the University of Kansas shows that lobbying for The American Jobs Creation Act of ‘04, which reduced taxes to 5.25% from 35% on repatriated…
Because demand creates supply building the Keystone XL pipeline makes sense. If we don’t build it Canada will build a pipeline to the BC coast and sell its energy to Asia, leaving us increasingly reliant on OPEC. Worse, the oil…
The Friday File: Psychology moves markets yet economists and others don’t appreciate it. Last month Liz Taylor’s spectacular jewelry collection went to auction and took in $116 million, five times pre-auction estimates. The auction more than doubled the record for…
While being in debt is not so great for a household–because interest payments leave the household and go to a bank, or credit card company, debt can be tolerable for a country. If the debt is largely internally held (Japan),…