econbuff

Shoring up

2008-11-21T14:05:00Z

Why is it that I keep hearing the U.S. has the strongest economy in the world, but that it needs shoring up? Seems like cognitive dissonance.

Water Markets

2008-05-14T13:03:00Z

This article in Forbes acknowledges that scarcity of water is leading to water markets, which will lead to more rational use of water.

...scarcity has already spawned informal water markets in parts of Texas and Mexico. The prospect of shortages has attracted a growing number of venture capital firms and investment funds to place big bets on technologies aimed at replenishing water supplies.

...

"Sooner or later, the way in which the world adapts to shortages is with price," says Levinson. "So my expectation is that water is going to become increasingly costly as an input for all kinds of purposes, and when that happens you'll see a lot more interest in conserving water."

Crook County

2008-03-07T16:42:00Z

This issue is a bit parochial, but typical of what goes on in many places.

The county board of Cook County in Illinois has decided to squeeze the taxpayers further with a full percentage point sales tax increase. This will bring the tax rate in many of the Chicago suburbs to 10%. Yes, we are now tithing to our masters in Illinois. Poor Todd Stroger needs to hire 1,000 more patronage workers.

Watch for folks making their purchases of big ticket items over in Lake County where the rate is a "mere" 7%, or order off the internet and come out ahead even with shipping costs.

Some of the outlying suburbs are contemplating seceding from the county. Good luck. This quote from the Chicago Tribune illustrates what a racket this really is:

Still, some suburban leaders doubt they will ever be free of Cook County.

"The Lincoln County proposal is going to be sort of hard to do," said McLeod, whose town competes with cheaper locales in Kane and Lake Counties. "Sure, they can make some hay with it, but the powers-that-be aren't going to let this area go." (emphasis added.)