End of Semester Humor

This has been a very interesting period for studying economics.  Sometimes it's nice to just sit back and have a good laugh at some of the craziness we see around us.  Here's a collection of recent economic/political cartoons.  Enjoy!

Is It Goodbye to Twinkies?

Striking unions at a dozen Hostess Brands plants have forced the company to shut down.  18,000 employees including approximately 600 employees at the Ogden, Utah plant will be laid off in the closure.  Here is a real world example of why many economists suggest that unions create more unemployment in the workplace.  Can this iconic brand be saved?  Read about it here.

Goodbye Twinkies!



Three Trillion Barrels of Oil Under Utah?

A Recent discovery of oil in the Green River basin could provide enough oil to make the US totally independent from OPEC.  What are the possibilities?  Read about it here.

Utah-Colorado Oil Find

Students Observed Leaving Fed with Money

Following a recent tour of the Federal Reserve Bank in Salt Lake City, students from LDSBC and SLCC were observed leaving with up to four bills each (value estimated at up to $3200).  Upon further investigation however, Federal Reserve authorities indicated that there wasn't a "shred" of evidence any money was missing.  See what you missed?
Shoulda been there!

Mitt Romney's Political Opportunity Cost

Regardless of your political persuasion, I think you will find this article from Forbes interesting regarding Mitt Romney's opportunity cost for going into the political arena.

Forbes: Mitt Romney Opportunity Cost

Tax Cuts for the Rich

Noted economist Thomas Sowell takes on the argument about tax cuts for the rich in this recent article.

Sowell: Tax Cuts for the Rich

Confusing Unemployment Numbers

If you were confused by the conflicting unemployment numbers published last Friday, read the article posted on Greg Mankiw's blog http://gregmankiw.blogspot.com/ entitled "The Two Labor Market Surveys" for a better explanation.

China's Economy Slowing Down

What is the potential impact to the US economy as China's (and the global) economies begin to slow down?  These articles from Forbes and The Economist give some insight.

China Slowdown?

http://www.economist.com/node/21562221

EPA Standard May Force Closure of Power Plant

Here are two articles from KSL, one from yesterday and the other from December 2011 regarding the potential closing of a coal-fired power plant in Carbon County.

http://www.ksl.com/?nid=960&sid=18588379

http://www.ksl.com/index.php?sid=22384123&nid=481

A Brief Break from Economics

Sometimes it is fun to just go off in a different direction and take a break from traditional economic topics.  Here is an article from Forbes Magazine on job interviewing that I found interesting.  As a follow up to the Career Development Conference, see how this information compares with what you learned on Wednesday.

Top 5 Interview Mistakes

GDP Q2 Growth Revised Downward

Even though corporate profits were revised upward, the Commerce Department revised GDP growth for the second quarter downward from 1.7% to 1.3%.
Read about it here.

GDP growth revised downward

Fed Announces Third Quantitative Easing

In an unprecedented move, the Federal Reserve announced today that it will purchase up to $40 billion per month in mortgage-backed securities in hopes of bolstering economic recovery.  According to USA Today, "the Fed has spent $2.3 trillion since late 2008 buying Treasury and government-backed mortgage bonds in an effort to push down longer-term interest rates that consumers and businesses pay to borrow, and to steer investors from bonds into stocks."  Read the full article here.

http://www.usatoday.com/money/business/story/2012/09/13/federal-reserve-decides-to-trigger-third-easing-to-help-economy/57776656/1

Oil Prices Up Following Attack

Oil Prices rise following attack on US consulate in Libya.  Will more unrest cause prices to spike? Read about it here.

http://www.boston.com/business/news/2012/09/13/oil-price-after-attack-consulate-libya/ymw4YWHgWXAWKnskQBuqyI/story.html

Debt Surpasses $16 Trillion

CNBC interviews Senator Lindsey Graham regarding the debt, debt ceiling and other issues relative to the national debt.  Watch the video here:

http://video.cnbc.com/gallery/?video=3000114406

Does Big Spending Run in the Family?

According to public interest watchdog Judicial Watch, President Obama is not the only big spender in the Whitehouse.  In this article from Newsmax.com published today, first lady Michelle Obama is purported to have spent over $1 million of taxpayer money for 16 vacations in the last three years.  Excessive?  Read the details here, and you be the judge:

http://www.newsmax.com/Newsfront/obama-vacation-taxpayer-cost/2012/07/19/id/445913?s=al&promo_code=F831-1

Students "Enriched" by Fed Tour

A group of SLCC students were seen leaving their tour of the Federal Reserve Bank today enriched by new information about the Fed as well as by actual money given to them at the end of the tour.  It is estimated that each student left with anywhere from $4.00 up to $400.00.  Shoulda been there!

Tax or Penalty?

Political cartoonist Michael Ramirez's take on the recent Supreme Court decision.

Contrasting Election Year Budgets

Two contrasting budget proposals: Congressman Paul Ryan's "Path to Prosperity" and President Obama's 2013 proposal.

Here are links to each proposal:

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/budget.pdf

http://budget.house.gov/uploadedfiles/pathtoprosperity2013.pdf

Hidden Inflation

After a class discussion on hidden inflation (shrinking package sizes, smaller portions, etc.) student Carlie Boyce found an actual half gallon of ice cream (note the emphasis on the package).

Efficiency or Chaos? Live In-class Auction Has Both!

Here are a few video clips from a recent in-class auction, a great teaching and learning tool, demonstrating the efficiency (and sometimes chaos) of free markets.

G20 Summit Promotes Job Growth

Members of the G20 meeting in Los Cabos, Mexico this week draft a resolution to focus on jobs and economic growth.  So far there are few details on the resolution.  Is this just good PR, or a firm commitment to jobs and growth?  Read about it here.

http://www.theglobeandmail.com/news/world/economic-powers-united-in-resolve-to-promote-growth-and-jobs-g20/article4346906/?cmpid=rss1

Are You Better Off Today Than You Were Four Years Ago?

Read this article from the Weekly Standard by Jeff Bergner, coauthor of Branding the Candidate, check out the numbers on the chart below, then you decide.

http://www.weeklystandard.com/articles/what-difference-four-years-makes_646849.html

How's That Again?

Economics of Higher Education

Here is an interesting article and  interview from the Wall Street Journal on controlling the rising cost of higher education through technology.

http://online.wsj.com/article/SB10001424052702303640104577440513369994278.html?mod=ITP_thejournalreport_1