Economy Blog

(March 12, 2008 03:46 PM, by Bryan Caplan) Here’s a neat piece on the peculiar status of John McCain in Poole and Rosenthal’s ambitious empirical analysis of Congress:Keith……
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Ronald Bailey says that oil may be ready for a big fall:

Although U.S. crude oil inventories have fallen, gasoline inventories are at their highest since March, 1993, notes Tim Evans, an energy futures analyst at Citigroup’s Futures Perspective. World oil production was up 2.5 percent in the first quarter of 2008 over the same period in 2007 while world oil consumption rose by just 2 percent. In fact, world production is projected to be 3.3 percent higher in the second quarter and 4.1 percent higher in the third quarter than the same periods a year ago. On the other hand, world demand is projected to rise by just 1.6 percent over the next six months.

I…
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Here’s an interview I did with Dave Mabe over at StockTickr….
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$$$ Thought Process Flowchart: Eliot Spitzer [23/6]

$$$ Eliot Spitzer once returned a $50,000 campaign contribution from a political supporter who was charged in 2006 with paying women for sex. [TSG]

$$$ As of midnight last night, the h…
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In an article that will no doubt annoy orthodox leftists who cannot stand when a member of the creative class defects from their camp, Mamet describes how he came to break with ‘brain dead liberalism.’

“Aha,” you will say, and you are right. I began reading not only the economics of Thomas Sowell (our greatest contemporary philosopher) but Milton Friedman, Paul Johnson, and Shelby Steele, and a host of conservative writers, and found that I agreed with them: a free-market understanding of the world meshes more perfectly with my experience than that idealistic vision I called liberalism.
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From political scandal to marketing ploy in four hours flat.

“To promote its dedication to a more personalized approach to customer care, Virgin will run a full-page ad this week in Metro and 24 commuter dailies in Toronto featuring the now-former Governor Spitzer with a thought bubble above his head that reads: ‘I’m tired of being treated like a number,’” Marketing Daily reports.
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I don’t know what could possibly heal the gaping wound on our hearts inflicted by the footage of Jim Cramer appearing genuinely upset over Eliot Spitzer’s love of whores, but this is good start: apparently James Cayne paid $28 million for his new 6,000 square foot home at the Plaz. Cash.

Posh Plaza purchase …
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(March 12, 2008 01:34 PM, by Arnold Kling) Inside Higher Ed has the scoop. the majority of full-time professional employees in higher education are in administrative rather than……
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You just knew that a peer had to be involved.

The escort agency at the heart of the scandal surrounding New York was allegedly also used by the Duke of Westminster.

The peer was last year exposed as an alleged client of the Emperor Club VIP’s prostitutes.

Zana Brazdek, then 26, told The News of the World that the duke, Gerald Cavendish Grosvenor, paid her £2,000 for two hours. …
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(March 12, 2008 12:49 PM, by Bryan Caplan) The true author of each of these sentences is a noted Nobel prize-winner. Still, if a grad student wrote any……
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Can’t get enough of the Eliot Spitzer saga? Tonight at 8 PM (and rebroadcast at 11 PM ET) CNBC is presenting a special titled “The Rise and Fall of Eliot Spitzer: A CNBC Special,” anchored by Dylan Ratigan.

The one-hour special examines, among other topics, the effect Spitzer had on Wall Street. It will feature a huge gang from CNBC, including anchors and reporters Charlie Gasparino (Michelle Caruso-Cabrera, Scott Cohn, Melissa Lee, Hampton Pearson, among others.
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(March 12, 2008 12:38 PM, by Bryan Caplan) Dan Phiffer, a blogger I met at SXSW, has set up a little "wisdom of crowds" experiment on his blog…….
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Is this the woman who brought down the governor by, possibly, going down on him? (Click image for full profile, which is blurred and so may or may not be safe for work.) PageSix.com has uncovered an online portfolio description from the Emperors Club web site which either may or may not depict the expensive and mysterious “Kristen.”
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Yes, the revelation that Eliot Spitzer spent 800 million dollars on whores over the past six years seems to imply that he was a bad governor and a worse husband. But up until now, we hadn’t actually felt the pain his actions inflicted, so to say we were personally upset with him or really cared whether or not he was forced to resign/got sent to jail/had divorced papers served to his sorry, cheating ass would’ve been completely disingenuous. U…
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Not sure what took him so long but Geoffrey Raymond, the greatest artist of our time, has finally finished his latest masterpiece, “Annotated Spitzer.” He’ll be displaying it in front the stock exchange for the next week, before going on a tour that’ll retrace Kirsten’s steps from New York to DC, (hopefully) culminating in an exhibition in Mayflower room 871, which, interestingly enough, has yet to be cleaned. P…
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In honor of our fallen governor, DealBreaker will be hosting an impromptu happy hour at Spitzer’s Corner on Manhattan’s Lower East Side starting around 5:30 this afternoon. If you get there early enough, we’ll probably spring for a round or two. We hope you’ll join us as we raise a glass to the end of the dirty, rotten legacy of Loathesome Eliot.
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Just in case you didn’t catch it live.

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Just catching up on the fall of Eliot Spitzer? There’s too much Spitzer news and commentary for anyone to follow. Fortunately, both Stephen Bainbridge and Radar Magazine has combed through the news so you don’t have to. Radar concentrates on the dirty facts, like the fact that Spitzer didn’t like condoms, set the mood with classical music and apparently was getting some on his recent secret mission to Florida….
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If the history of asset management could be characterized as a struggle between active and passive management, are we nearing the end?…
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