An Interesting - and Stubborn - Fact

Facts are stubborn things. With the recent rise in gasoline prices, it will be the natural tendency of the political class to blame oil companies and seek to demonize them in the public eye. (And based on my conversations on the topic with fellow citizens, they are easy to demonize.)

However ... I ran across this very interesting chart. If you believe that he who controls oil production also influences the price of oil then check out this chart. Who profits the most of increased oil prices? Well, it would appear that the top 13 producers of oil are, in fact, governments and these governments produce 94 percent of the world's oil.

More to Go

Okay, I just sold my house in Kansas City and took a six percent loss from the purchase price two years ago. From what I can tell, I got off easy. It appears that prices still need to fall further to get back to their historic trend lines (reversion to the mean). It seems to me to be inevitable.

Those who know me know that I'm an optimistic type of fellow. (In fact, most of my personal money is in the market in long positions.) However, real estate seems like a good place to stay away from for a while.

Interviews Again

I thought it was time to repeat a couple of oldies but goodies. Here are two interviews I did in 2009 regarding IT and staffing. Take a look.

Investing in the IT Staff - with Gino Macarroni

So You Think You Know What a Recruiter Thinks? - with Diane Plymale

The Road to Serfdom - The Comic Book

I had the great pleasure of reading and re-reading Adam Smith's "The Wealth of Nations" many, many years ago. I may be the only person I know who's actually read he philosophical foundation of Capitalism and free markets.

I continue to run into references to the greatness of Hayek's "The Road to Serfdom". Someday I'll have to read it. In the meantime, for us with short attention spans, here's the comic.

Best Drummer Since Ginger Baker?

Maybe not ... but he certainly wins on style points.

More Stubborn Facts

Here are the results of last year's Cash for Clunkers program. I haven't watched it closely but it seems that the federal tax credits for a home purchase expired at the end of May. I know there was a flurry of buying

as that credit expired. Then I read an article that home sales will plummet. I suspect the federal tax credit did the same thing in the housing market as it did in the used car market, just pulled sales from the future.


I suspect the housing market will recover to normal levels soon.

Facts are Stubborn Things

According to one Hillary Clinton, "The rich are not paying their fair share" of taxes. The top five percent of wage earners pay more than 54 percent of income taxes. She seems to bright not to know the truth so I wonder why she said that.