Many WWII vets, hung over from celebrating VE Day yesterday
(Victory in Europe, May 8th, 1945) woke up this morning to find oil is
near $126/barrel. Think gas is expensive? On a per-gallon basis Diet Snapple is
$10.32 per gallon, Lipton Ice Tea is $9.52 per gallon, Gatorade $10.17 per
gallon, Brake Fluid $33.60 per gallon, Vick's Nyquil $178.13 per gallon, Pepto
Bismol $123.20 per gallon, Scope $84.48 per gallon, and Evian water is $21.19
per gallon! (Evian spelled backwards is “naïve”.) So, the next time
you're at the pump, be glad your car doesn't run on Scope, Pepto Bismol, Nyquil
or Evian water!
Speaking of spending money, do you ever wonder what goes
into our Consumer Price Index (CPI) calculation every month? Thank you Chris
S.:
http://www.nytimes.com/interactive/2008/05/03/business/20080403_SPENDING_GRAPHIC.html?ex=1225771200&en=2e9ae50c9f91a284&ei=5087?excamp=NYT-E-I-NYT-E-AT-0507-L6&WT.mc_ev=click&WT.mc_id=%20NYT-E-I-NYT-E-AT-0507-L6
A UN official says the World Food Program is suspending
cyclone aid to Myanmar
because its government seized supplies flown into the country. Some critics
are saying the United States
should not be in such a hurry to send aid when there are parts of Louisiana & Mississippi,
and Thailand,
which still have extensive damage from their disasters years ago and could use
assistance.
How are builders, and loan agents who cater to them, holding
up? Not well. Scott Eckstein, president of the Illinois Home Builders Association,
told the House Small Business Subcommittee on Finance and Tax that,
“There is deep concern that the dislocations in the financing markets
will increase the depth and length of the housing downturn.” Builders are
battling tighter mortgage underwriting, harder-to-find loans for land
acquisition, development, and construction (AD&C). Home buyers to obtain
financing to purchase new homes. Is anyone surprised by this?
This morning it was reported that the U.S. trade
deficit narrowed more than expected in March due to the value of imports
dropping, in spite of high oil prices. The trade gap shrank to $58.2 billion in
March, down 5.7% from a revised estimate of $61.7 billion in February. The $6.1
billion drop in the value of imports to $206.7 billion was the biggest on
record and the biggest percentage drop since December 2001. In a sign the
current U.S. economic slowdown is taking a toll on consumer and business
demand, major import categories like autos and auto parts, industrial supplies
and materials, and consumer goods were all down. The market likes the news, and
is continuing the improvement that we saw yesterday. The 10-yr is down into
the mid 3.70’s, and mortgage prices are better by roughly .125 in price.
Yesterday I asked my new doctor, recently graduated, a few
questions:
Q: I've heard that cardiovascular exercise can prolong
life; is this true?
A: Your heart is only good for so many beats, and that's it. Don't waste
them on exercise. Everything wears out eventually. Speeding up your heart
will not make you live longer; that's like saying you can extend the life
of your car by driving it faster. Want to live longer? Take a nap.
Q: Should I cut down on meat and eat more fruits and vegetables?
A: You must grasp logistical efficiencies. What does a cow eat? Hay
and corn. And what are these? Vegetables. So a steak is nothing more than
an efficient mechanism of delivering vegetables to your system. Need
grain? Eat chicken. Beef is also a good source of field grass (green leafy
vegetable). And a pork chop can give you 100% of your recommended daily
allowance of vegetable products.
Rob
