High Storage Levels, Low Oil Prices


After almost reaching $55 per barrel (bbl), oil prices are again falling. What makes this decline particularly baffling is that in late 2016, after seeing prices languish for two years, the Organization of Oil Producing Countries (OPEC) announced that it,…

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Tax Reform Done Right


With elections right around the corner, tax proposals are surfacing like mushrooms after a rainstorm. While we can all agree that the current tax code is a disaster, the most recent proposals regrettably range from just bad to positively dreadful.…

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Driverless Cars


At present, there are 240 million cars and light trucks in the USA, most of which are parked 23 hours a day or more. This idleness makes owning and driving a car expensive. If cars could just be used more,…

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Government Assistance Increases Wages!


All too frequently the argument is made that government assistance programs subsidize low wage employers. That is, firms like Wal-Mart, McDonalds and Target, to name just a few, are able to pay very low wages precisely because management knows that…

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Reservations About The Dollar


Since the start of the Great Recession of 2008 and the Fed’s decision to inject trillions of dollars into the banking system, there has been constant talk of the US dollar losing its position as the world’s reserve currency, the…

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Regulation and Its Unintended Consequences


Looking around the United States there are cities like Boston, Los Angeles and Washington, DC that have very high house prices. Yet there are equally successful cities like Austin, Dallas, Louisville and Oklahoma City that have much more affordable home…

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Economic Forecast for 2nd Half 2013: Sunny with Cloudy Periods


Looking ahead at the second half of 2013, the economic news is pretty solid. The US economy is on the mend, the labor market is slowly healing and house prices are up about 10% from year-ago levels. In addition, Europe…

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