You can’t put a price on freedom; or maybe you can ($598 billion per year). In other words, there’s nothing wrong with spending tax dollars to maintain American exceptionalism. While we may allocate more money to defense each year than the next 13 countries combined, and develop technologies decades ahead of our enemies’ capabilities, the costs associated with a predominantly Russian or Chinese global sphere of influence are far higher.
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Spoiled By Oil
In what has otherwise been a tumultuous year for the oil industry, some good news emerged this week as crude oil prices hit a new 2015 high. Since its $110 per barrel price in June 2014, Brent crude prices have crashed to below $50 per barrel; however, as of Wednesday, Brent crude bucked recent trends and ended the day at $64 per barrel. Unfortunately, this good news came at a cost.
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The World Beyond Wall Street
If you have been paying attention to international news over the last few weeks, you are most likely aware that the Middle East is once again heating up. While the civil war in Syria continues to rage, militant Islamic fundamentalists have risen up in Iraq (a group known as ISIS), and are slowly trekking toward Baghdad.
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Raise The Bar, Raise The Flag
It's a curious thing... the impact of economics on societal progress. For instance, understanding macro models allows the masses to understand economic growth, and how to facilitate or stymie it. Likewise, microeconomics provides the populace with insight into how people make seemingly rational choices at the individual level.
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