Deposits Skyrocket at Eagle Ford-Area Banks
Professor Mark J. Perry's Blog for Economics and Finance
Thomas Sowell's recent column about the "Fair Pay Act":
According to the USDA, the net income from U.S. farms set a new record last year of almost $100 billion on record cash receipts of $363 billion. The record-high farm income last year was 24% above income in 2010. The USDA is also reporting that the total value of farm real estate (and total farm equity) exceeded $2 trillion last year for the first time, and increased by 6% from the previous year. Even with record-level income, revenues and farm land values, U.S. farmers also "harvested" more than $21 billion in subsidies last year from the pockets of U.S. taxpayers, including more than $10 billion in direct
Some great examples of unintended consequences from the Wikipedia listing for "Perverse Incentives":
"Global carbon-dioxide emissions from fossil-fuel combustion reached a record high of 31.6 gigatons in 2011."The world has yet to figure out how to stop the relentless increase in climate pollution. But mixed in with all the bad news there was one shining ray of hope. One of the biggest obstacles to climate action may be shifting. As the IEA highlighted:
"US emissions have now fallen by 430 Mt (7.7%) since 2006, the largest reduction of all countries or regions. This development has arisen from lower oil use in the transport sector … and a substantial shift from coal to gas in the power sector."How big is a cut of 430 million tons of CO2? It's equal to eliminating the combined emissions of ten western states: Alaska, Washington, Oregon, Idaho, Montana, North Dakota, South Dakota, Wyoming, Utah and Nevada.
|Number of Years in Top 400||Number of Taxpayers in Group||Percent of Taxpayers Represented by Each Group||Number of Returns in total Top 400 over 18-year Period||Percent of Returns Represented by Each Group|
|10 or more||87||2.25||1,147||15.93|
OilPrice.com -- "The Bakken shale play is one of the biggest in the U.S., but is absolutely dwarfed by a shale play in Russia. The Bazhenov is located in Western Siberia, and according to Oswals Clint, Sanford Bernstein’s lead international oil analyst, it “covers 2.3 million square kilometers or 570 million acres, which is the size of Texas and the Gulf of Mexico combined;” an area 80 times bigger than the Bakken.
From Chmura Economics, an analysis of the Midwest manufacturing boom, with lots of good micro-level data, here's the opening:
Deborah Byers of Ernst & Young explains in Forbes why we should keep the current tax provisions for oil and gas companies, here's an excerpt:
It hasn't even been a month since I last posted about this.....
NY Times reports that "Bloomberg Backs Plan to Limit Arrests for Marijuana."