Monday, July 7, 2008

More interesting things

It's been a tumultuous time around the world. Zimbabwe has just been a mess! Sadly, no one decided to do anything about it until after their elections were over.

Anyways, everyone knows oil prices have been high. Iraq wanted to try to get some help producing the stuff, but I've heard that has not met much success yet. It would be nice to get higher supply now, but if the situation is anything like how Heilbroner describes in Economics Explained, then we have a rough ride ahead of us regardless, with no easy end in sight (interesting bits on pages 181 and 207, regarding the 70s).

By the way, if you think everyone's doing poorly and losing money, take a look at McDonald's and Walmart. Inferior goods are an interesting thing.

And for those curious, Business Week had an interesting article to explain why it takes so long to call a recession. They don't really explain it very well, but it's still an interesting read.

Lastly, a Newsweek article asks if the president has the power to fix the economy.

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