Tag Archives: Economics

Understand the Emergence of the Marijuana Meme – Even In China

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Anthony-Wile1

“We can see once more how misleading it is to characterize countries as people. ‘China’ may seem to be monolithically opposed to legal marijuana but its entrepreneurial class is already anticipating the possibility of participating in a post-prohibition world. And in Canada, certain business interests are obviously pressuring the current regime to be more flexible about marijuana consumption, especially in small amounts. Analyze political behaviors or entrepreneurial activities from the standpoint of culture and people rather than ‘lines on a map.’ When it comes to marijuana or any other industrial trend – large or small – a look behind the “curtain” is both beneficial and enlightening.”

http://www.thedailybell.com/editorials/35584/Anthony-Wile-Look-to-Human-Action-to-Understand-the-Emergence-of-the-Marijuana-Meme-Even-in-China/

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Bourgeois Dignity featuring Deirdre McCloskey

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“Economist and historian, Deirdre McCloskey, discusses why the explosion of widespread wealth in the west was the result of changes in rhetoric about markets and free enterprise finally became enthusiastic and encouraging of their inherent dignity.”

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Egypt battles energy crunch with ban on too-cold air conditioners

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“Egypt, grappling with an energy crunch, will enforce a ban on the production and import of air conditioners that can be set lower than 20oC, aiming to reassure citizens and industry hit with power cuts and fuel shortages.  The ban on air conditioners outside the government’s specification will contribute to ‘easing the burden on Egyptian families,’ the minister added.  Long lines at gas stations and power cuts fuelled popular anger against president Mohamed Morsi ahead of his ouster by the army last summer.  He said the government will make a bigger push to distribute smart cards for fuel to cut smuggling and black market selling of gasoline.”

http://jordantimes.com/egypt-battles-energy-crunch-with-ban-on-too-cold-air-conditioners

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Venezuelan VP: Anyone rejecting border closure deserves no trust

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“Venezuelan Vice-President Jorge Arreaza on Tuesday asserted that anyone lambasting the government’s security measures on the Venezuela-Colombia border should be distrusted, claiming that critics may be interested in leaving the problem unsolved. ‘Those criticizing the measures are directly interested either in the smuggling mafias or destabilization…’ said Arreaza during a conference on comprehensive defense of the nation.  The senior officer further attributed domestic shortage to smuggling.”

http://english.eluniversal.com/nacional-y-politica/140819/venezuelan-vp-anyone-rejecting-border-closure-deserves-no-trust

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Bill Bonner: Three Signs That Never Fail to Predict a Bear Market

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“Too much money (or credit) raises prices, lowers yields, forces investors into subprime investments, increases debt and dooms markets to disaster.   As ultra-low rates continue, milestones are hit. In 1946, the Union Pacific Railroad was able to borrow at 2.51% – a record low at the time. But it was a solid business. Today’s credit-financed lending bubble finds borrowers with neither tracks nor trains.  Rwanda recently borrowed $400 million – an amount equal to 5% of GDP –at less than 7% interest.  [LendingClub also has a] great business model, no? You get money from people who are desperate for yield… you lend it to people who are desperate for cash… and you take your fees off the top.”

http://bonnerandpartners.com/three-signs-that-never-fail-to-predict-a-bear-market/

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Sotheby’s? The best indicator you’ve never heard of

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“Need proof of a speculative bubble?  Closely watched hedge fund manager Jim Chanos says he has the best barometer for gauging where 1 percenters are putting their money, given the Federal Reserve’s easy money policies that have been fueling their portfolios to record highs. During an interview Thursday on CNBC’s ‘Squawk Box,’ he pointed to the stock chart of Sotheby’s.  ‘That’s what people are buying,’ Chanos said.  The chart shows that shares of Sotheby’s have peaked before every major financial bubble since 1987, starting with the leveraged-buyout spree that fueled the stock market before the Black Monday crash that year.”

http://www.cnbc.com/id/101551679

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FICO Recalibrates Its Credit Scores, Targeting Easier Credit

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“A change in how the most widely used credit score in the U.S. is tallied will likely make it easier for tens of millions of Americans to get loans.  Fair Isaac Corp. said Thursday that it will stop including in its FICO credit-score calculations any record of a consumer failing to pay a bill if the bill has been paid or settled with a collection agency. The San Jose, Calif., company also will give less weight to unpaid medical bills that are with a collection agency.  The moves follow months of discussions with lenders and the Consumer Financial Protection Bureau aimed at boosting lending without creating more credit risk.”

http://online.wsj.com/articles/fico-recalibrates-its-credit-scores-1407443549

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Dry California Fights Illegal Use of Water for Cannabis

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“Amid the state’s crippling drought, many communities are fighting the growers’ use of water.  Environmentally minded marijuana growers say that illegal operators and water guzzlers are giving them a bad reputation.  Because there are countywide restrictions on the number of marijuana plants even legitimate growers may keep, Mr. Chaitanya said, they have an incentive to make those plants as robust as possible — and that means using more water. Mr. Chaitanya suggested that the problem was exacerbated by confusing regulations.  Sheriff Allman of Mendocino County was skeptical of this. ‘That sounds like logic they’ve made up after smoking a joint,’ he observed.”

http://www.nytimes.com/2014/08/07/us/dry-california-fights-illegal-use-of-water-for-cannabis.html

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Government Delays Cause Cannabis Shortage in Seattle

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“Although there are 635,000 residents in Washington’s biggest city, the state only allowed for one retail marijuana space to open in Seattle and now it’s completely out of pot. Cannabis City, ran by owner James Lathrop, is the lone dispensary that was licensed in Seattle and ready to begin selling marijuana on the first day it was legal in the state. Between the opening date on July 8 and Thursday July 10, the dispensary sold out of its entire stock of 11 pounds or 4,990 grams of marijuana despite its 2-grams-per-person policy. Reports reveal that the Washington State Liquor Control Board (WSLCB) licensed less than 80 growers within the entire state despite receiving over 2,500 applications.”

http://cannabisnowmagazine.com/dispensaries/cannabis-shortage-in-seattle

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