Recent comments by energyecon

the McKinsey report gave a nice global summary of debt/income. Although some here claim the US has delevered since 2007, this report differs. For private investors, I think debt/income matters, at least if no one has insured their bets at no cost.
Debt and (not much) deleveraging

Yes, it is very interesting - recommend reading the executive summary if nothing else (that runs 15 pp).

The Walmart increase will move the statistical needle, but is it really a function of them having trouble finding bodies to fill the the positions they are hiring for? How you answer that question will tell the tale.

Would make another excellent X-Prize! Maybe the Fed will lend us their magical Bloomie...

This will be great!

Could 3D printers hold the key to manned missions to deeper space?

Niki Werkheiser, the ISS’s 3D printer program manager at the Marshall Space Flight Center in Huntsville explained that print-on-demand will be a critical technology that will make manned missions to mars possible. Since such missions will be much longer, supply and stocking could be a worry without on-demand printing.

A positive new development in this regard may just be the next big innovation that could fuel manned missions into deeper space. Microgravity 3D printed objects, if found to be as durable and substantive as their counterparts manufactured in full gravity conditions, will make it possible for NASA to plan longer space missions. Such a possibility will also free NASA up from the costly resupply missions that NASA has to undertake to restock ISS from time to time.

The X-Prize people ought to cook something up for 3-D printing using the chemical equivalent of ground up Mars rocks for printer inputs...

It's just this... so presumably -- The Klingon Dictionary (Star Trek) (9780671745592): Marc Okrand: Books

Whattabout Rosetta Stone? K'plagh!

New Keyboard

Storage doom was the topic of that post, but then run with what you Dooooooooooooooom!!! must run with... the companies that are in this immediate trouble were in trouble at $100/bbl

The rare occurrence of an issuer missing its first interest payment is referred to by people in the bond industry as NCAA, or no coupon at all, Cutter said.

something something due diligence something...

I still view it as an elaborate conspiracy aimed at making me actually pay money for a Klingon language guide.

Hmmmm, does it have good production values?


Capacity is about 67% full in Cushing, Oklahoma (the delivery point for West Texas Intermediate futures contracts), compared with 50% at this point last year. Working capacity in Cushing alone is about 71 million barrels, or more than half of all Midwest (as defined by Petroleum Administration for Defense District 2) working capacity and about 14% of the national total.

The all-in capacity utilization number for PADD 2 is ~60%, which is also about where we are at nationally. Not quite the imminent Dooooooooooooooom!!! preached by the true believers, but hey you go with the inflammatory headlines you have, not the inflammatory headlines you wish you had!

New Keyboard

Raise your hand if you have ever been the card carrying member of a Star Trek fan club...

I'll see your Duke Point and raise you Nichelle Nichols and Walter Koenig!

New Keyboard Clumsy, inept or too stupid to put on shoes without leather soles?

Herbert believes in only unidirectional possibilities...

Do you have six fingers on your right hand?

I've always liked Lewis Black's characterization of the the Blue Team as the party of no ideas., and Red Team as the party of bad ideas.

Debt and (not much) deleveraging | McKinsey & Company

Seven years after the bursting of a global credit bubble resulted in the worst financial crisis since the Great Depression, debt continues to grow. In fact, rather than reducing indebtedness, or deleveraging, all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points (Exhibit 1). That poses new risks to financial stability and may undermine global economic growth.

Its not easy being green to the white courtesy phone in the lobby...

Access Denied

Some EUR26.6 billion ($29.8 billion) of bonds from U.S. borrowers have been issued in Europe this year, with about a third of those coming from Coca-Cola's bumper bond sale last week, Dealogic data show.

Oreo-maker Mondelez International Inc. and Kellogg Company, which makes breakfast cereals such as Corn Flakes, are some of the other familiar names that have crossed the Atlantic to load up on cheap debt.

The average yield for corporate bonds issued in euros is a near-record low 1.07%, according to a Markit index, more than a percentage point lower than a year ago. By contrast, the average yield for corporate bonds issued in dollars is 3.66%, Markit data show.

Perhaps the difference between what is possible, and what is advisable...

I just got out of a meeting where nearly half the participants were experiencing water damage in the homes. It's gonna be ugly. Another acquaintance last week suggested to me that this sort of damage from this years storms is gonna add up into the $billions.

Wait 'til the warm rainstorm blows in, then the real fun will start!

Unclear antecedent - what is "the automation argument" you are referring to?

most of this sort of manufacturing is already gone

Yep, dryfly laid that story out quite clearly. Ballpark numbers, about half the manufacturing job losses have been automation vs. offshoring.

… I thot that was lack of consumption

Beware the PLOG!

I don't see why we would expect manufacturing wages to be higher than service wages indefinitely. I would expect the inverse

I'll propose the contra - as capital substitution for labor increases in the manufacturing sector, we will see increasing marginal revenue product of labor (proportionately fewer, higher skilled jobs) - suggesting a sustained advantage to the wages in manufacturing vis a vis service sector.

My Uber fleet will get the rest of you.

Belmont's playing GalCiv!

You are a tad crunch today ag, WTF was up with Ceres anyways?

NASA probe closes in on dwarf planet Ceres | Spaceflight Now

NASA’s Dawn spacecraft is closing in on the dwarf planet Ceres, the largest body in the asteroid belt between Mars and Jupiter, beaming back increasingly sharp pictures revealing a heavily cratered world with unexpected — and so far, mystifying — spots of light that may be reflections off exposed ice or some other material.

Whatever they are, the surprising spots have generated widespread interest among scientists and non scientists alike as Dawn completes its rendezvous and slips into orbit around Ceres early Friday, three years and more than 900 million miles after wrapping up a year-long study of the rocky asteroid Vesta.

Yo yo yo that is a yeehaw in these here parts when gasoline goes up! 

Is it just me or does it look like the state of AZ is pulling their infographics from CR (or at least their stylistic inspiration)?

Hang tough d^2 and the best to the missus

Hmmm. I thought it was imperious pseudo-intelligence. (Maybe I'm just projecting.)

New Keyboard Dunno, but I did get called an 'upstart ignoramus' once!

Shrug. Take 'em or leave 'em.

edit: your article is a bit dated don't you think 9/25/2013

Not at Walmart.

(edit: which it seemed self evidently clear that was what I was referring to, but to resolve any ambiguity - with reference to employment and hours at Walmart)


“It will have a bit of an effect,” said Ms. Jabbie, who has worked at Walmart about a year. “But unless they give us more hours, it’s not going to be very much.”

Watch employment increase as well, so they can be sure to keep everyone working 25 hour weeks or thereabouts...