Binary Outcomes

Binary Outcomes Energy markets, particularly oil, have produced some of the great supply and demand lessons that feed our understanding of economics. This one is no different. My first lesson came in the early 1970’s when I could only buy gas on odd numbered days (because my license plate ended in an odd number). I […]
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Bad Moon Rising

Bad Moon Rising Economist Herbert Stein, who was chairman of the Council of Economic Advisers under Richard Nixon and Gerald Ford, is quoted as saying “If something cannot go on forever, it will stop.” For better or worse, it appears the Iranian nuclear program has reached that point. It has always been U.S. and Israeli […]
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