Day July 6, 2008

The party’s over

From Alan Abelson’s weekly column in Barron’s It increasingly looks “like the evermore freewheeling financial environment that we’ve taken for granted for the last 25 years is behind us.” Or, as the [Bank for International Settlements] declaims “has run its…

WSJ: Ok, peak oil is real after all

What’s up with oil prices? Well, it’s not speculators, and there’s no relief in sight, meaning at least five more years of high prices with no easy fixes. The ugly truth? Peak oil isn’t fringe anymore—it’s going mainstream. The dozens…

US share of foreign tourism drops

Why? Because plane flights elsewhere are cheaper but mostly because foreign tourists increasingly believe, with obvious good reason, that customs and security procedures are onerous and extremely unfriendly. So they are traveling elsewhere, this even when the dollar is low…