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An artist's reflection on a long-dead whale

(K. Brent Tomer),

WHALE oil, wrote Herman Melville in “Moby Dick”, is “as rare as the milk of queens”. In fact the head of a single sperm whale yields around 2,000 gallons of the stuff, but as it was used for lamp-fuel, as a lubricant and to make soap, there was always a huge appetite for it. 165 more words

Brent Tomer

ISM Manufacturing Shows Weaker Growth

The ISM Manufacturing Index for July was released early Monday, showing another report in positive territory at 52.7 for the month. Unfortunately, that was in the wrong direction from last month and against expectations. 173 more words

Economy

Personal Income and Spending Show No Real Inflation

Personal income and personal spending both came in with positive readings for the month of June. Personal income was up 0.4%, versus a 0.3% consensus from Bloomberg, and the month of May was revised from a gain of 0.5% to a slightly lower gain of 0.4%. 176 more words

Economy

"China’s Naked Emperors": Listen Up Jeb, China's Rulers Have No Idea What They’re Doing

Politicians who preside over economic booms often develop delusions of competence. You can see this domestically: Jeb Bush imagines that he knows the secrets of economic growth because he happened to be governor when Florida was experiencing a giant housing bubble, and he had the good luck to leave office just before it burst. 774 more words

Economy