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Saudi Arabia Reacts to Your Disinterest by Playing Hard to Get

Thursday, April 21st, 2011

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(photo credit: ezioman)

Let’s see if we can explain this one:

- The laws of supply and demand say that when supply of a particular product is low, its price goes up. And when consumer demand for that product is high, prices also go up.

- The opposite is also true: low demand = low prices; high supply = low prices.

- So when the oil minister of Saudi Arabia says that OPEC is cutting down on oil production because there’s too much supply in the market, you would think that oil is pretty cheap right now.

Nope. The price of oil is actually higher than it’s been in two and a half years. But it’s not high because of strong consumer demand (apparently demand is quite low since no one can afford it), and it’s not because of low supply (the minister says the market is actually “oversupplied” with barrels and barrels of black gold).

The price of oil is high because of the investors trading it on commodity markets. Because of all the civil unrest/ revolutions/ humanitarian disasters in North Africa and the Middle East right now, they’re worried about whether oil will become harder to get in the future.

So in this case, the price of oil has nothing to do with present-day supply and demand. It’s about a bunch of analysts who think that if a lot of oil-rich governments collapse, tomorrow’s supply might not meet tomorrow’s demand. (Dun dun dun dunnnnnnnnnn!)

Rut-Roh: Credit Rating Agency Just Not That Into U.S. Debt Right Now

Wednesday, April 20th, 2011

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(photo credit: striatic)

Well, that pesky federal deficit has finally caught up with us. Standard & Poor’s, a credit rating agency that basically judges how risky (or safe) it is to invest in a country, has officially said that the United States’s economic shenanigans may end up costing it its pristine AAA credit rating. (That’s three A’s, so you know it’s extra awesome.) The main reason? Washington’s seeming inability to agree on a plan to reduce the deficit.

S&P didn’t actually downgrade America’s credit rating, but it did change its “outlook” from “stable” to “negative.” This is basically a shot across the bow, or a warning from your mother that if you keep hanging out with those corner boys all you’ll get is a reputation.

This is kind of a big deal. If the U.S. is downgraded (and according to S&P is could be within three years), we’ll be out-credited by France. And foreign investors might be less interested in buying Treasury bonds, which would cut off an important source of income for the government. Which might result in more cuts to services like health care, education, and, you know, repairing roads.

Let’s see where we are in two years. In the meantime, how do you think you would do in S&P’s eyes?

Can you weather the credit storm?

Dilbert Creator Says “B Students” Should Skip Math Class and Sell Candy in the Cafeteria Instead

Thursday, April 14th, 2011

If you’ve ever felt like certain school subjects just aren’t your thing, read this essay by Dilbert cartoonist Scott Adams.

He tells the story of how he learned to run a business by simply going out and doing it. He didn’t need to be an expert in anything in order to be an entrepreneur; he just used little bits of different talents he already had, he failed a lot, and he kept trying.



(He apparently hasn’t heard that Algebra II is the key to success.)

Seems like every piece of advice ever tells us that the only way to accomplish anything is by trying to do something. Keep that in mind when your campus lemonade stand is crushed by a competitor. At least you’ve done something.

And next time, you may be the ruthless competition-crusher!

Check out some real-life class-cutting capitalists.

How to Stick to Your Values and Be Popular at the Same Time

Thursday, April 14th, 2011

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It’s hard for anyone to stay true to themselves when they’re pulled in a million different directions by their adoring fans. (See: every celebrity breakdown in history.) But it’s especially hard when you’re a publicly-traded company.

Publicly-traded companies have a legal obligation to put the interests of their shareholders first. And often that means making money the fast and easy way instead of the most ethical way.

But there are actually two ways to judge a company’s success: the bottom line tells you how much money the company has made. The triple bottom line tells you how much good the company has done – for people and the planet – while it made that money. As a socially-responsible investor, you can choose to put your money behind companies that focus on the triple bottom line, which benefits shareholders AND the rest of the world.

Learn more about socially-responsible investing (SRI).

There’s a great opinion piece in the NYTimes that talks about how good companies can navigate the complicated world of hostile takeovers and shareholders’ rights while still staying true to their mission and values. For example, Ben & Jerry’s ice cream company, because of its obligation to shareholders, was forced to sell to an international corporation (Unilever). While the acquisition didn’t totally destroy the company’s founding principles, it sure wasn’t the same company after that.

What would you have done if you were Ben (or Jerry)?

Face it: Your future depends entirely on your Algebra II grade

Thursday, April 7th, 2011


(photo credit: stuartpilbrow)

Apparently, Algebra II is one of the best predictors of a student’s success in college and beyond. (You know, that great beyond where you actually have to get a job?) Several studies show that people who have made it through Algebra II tend to do better in college and end up in higher-paying careers.

Now, nobody’s going to say that algebra is easy, but although it may be the basis of rocket science, it is not, in fact, rocket science. And once you learn it the first time, you don’t really have to learn it again.

We’re willing to bet that students who spend a little time learning the basics of personal finance also tend to end up in those higher-paying careers. So unless you want to be this guy, maybe it’s time to hit the books.

Books? Worry not – you can learn your maths and watch videos on the Internet at the same time!

Hawaii Pushes the “Emergency Marketing” Button

Wednesday, April 6th, 2011

We all know by now how much the earthquake and ensuing tsunami in Japan have affected its economy and the foreign companies that depend on Japanese-made components for their products.

But something we hadn’t really thought enough about is how the disaster affects where Japanese people choose to spend their money. It seems obvious now, but Japanese tourism to Hawaii has dropped by a full 25% since March 11th. That’s a big deal for the Hawaiian tourism industry, which is now spending $3 million on “emergency marketing” to woo travelers from other nations.

See what happens when you put all your eggs in one basket? Diversity really is more than just a corporate buzzword. (Full disclosure: we hate the word “buzzword.”) In work, school, government, AND your investment portfolio, diversification can protect you from unpredictable events and their domino effects.

Fortunately, Hawaii still has plenty of appeal to pasty New Yorkers like ourselves, who are happy to contribute to the state’s critical tourism revenue stream.

Barring an unforeseen volcanic eruption, that is.

Americans are Spending More (yay!)… But Not Necessarily Getting More (boo)

Saturday, April 2nd, 2011

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(photo credit:  Eggybird)

Every month for the past eight months, dutiful Americans have been pulling out their wallets and handing their money to other Americans in exchange for goods and services. In other words, they’ve been lubricating the wheels of our creaky economic machine.

Why? Well, part of it is that they’re more confident now that the recession is over and there are real signs of a recovery. But the other, more significant part is that the cost of living increased. That’s right: inflation.

Food and gas prices went up, which means that more of Joe American’s dollars went to feeding his family and driving to work than to buying a new television or a trampoline for the kids.

Ben Bernanke from the Fed says that nobody should be worrying about out-of-control inflation – food and gas prices will come down again. But if he’s wrong, it’s the Fed’s job to take action to make sure Joe still has a few dollars left to pay for his morning coffee after feeding the kids and driving to work.

And by the way… while inflation sounds like a bad thing, it’s really not as bad as its evil twin, deflation.

Have you been spending more money since last summer? Why?

How one manufacturer in Japan tripped up the Apple machine

Friday, April 1st, 2011

Do you know what makes your iPod go?

Here’s a hint: It rhymes with phithium pholymer.

No?

It’s made in Japan.

Still not getting it?

The shutdown of the Japanese factory that makes it is disrupting Apple’s production line.

…

If you guessed “a very specific and rare polymer used to hold together the lithium ion batteries used in iPods and a variety of other gadgets,” you’re right!! Ding!

This story is crazy. Who knew that one chemical made by one small company halfway across the world could affect iPod buyers in the U.S.? This is a good example of outsourcing in action.

For now, the company (Kureha) is scrambling to get back into action, but in the meantime, will the price of an iPod go up? Should we start stockpiling them in our panic rooms? Can we order iPods with the soothing voice of Justin Beiber pre-installed on them??

Seriously, though. Do you know where your favorite products are made?

You were there for one of the “biggest box office bombs of all time!”

Friday, March 25th, 2011


(AP Photo/Walt Disney Studios)

Congratulations – you’re witnessing history in the making! “Mars Needs Moms” – the 3-D animated Disney disaster that came out last weekend – has had one of the worst opening weekends… ever.

The film earned $6.8 million in its opening weekend… but it cost about $150 million to make. Most movies break even within a few weeks of release and then – ideally – start to turn a profit. Not so for this tribute to the power of moms. Though it brought in some revenue, it wasn’t enough to cover the cost of producing the flick.

Disney distribution president Chuck Viane says the problem is simple: “Not enough people came to see the movie.” (Um, duh.) One possible reason is that there were a lot of other animated movies in theaters this weekend, and Earth moms weren’t about to shell out $20 for 3D tickets to all of them.

So were the dismal box office numbers a product of poor timing or a cruel twist of fate?

Perhaps the movie’s budget directors should have taken Budgeting 101?

What’s up with 3-D movies anyway? Are you paying to see them? Tell us.

Do you know where the wealth is?

Friday, March 25th, 2011

According to new research from Harvard Business School, most Americans have no idea how wealth is distributed in this country.

Here’s a handy chart from the study that pretty clearly illustrates how Americans think wealth is distributed, how they wish it was distributed, and how it’s actually distributed:

wealth-actual-and-perceived.gif
(click chart to download a pdf of the study)

Did you know that there was such a huge difference between the very top and the very bottom of the wealth scale?

  • - The top 1% (about 3 million people out of 300 million) holds 50% of the nation’s total wealth, and the top 20% owns 85%.
  • – The bottom 20% of Americans (about 62 million people) owns less than 5%.

There’s an interesting discussion on the New York Times about why this might be the case, why Americans underestimate income inequality, and whether we should even care.

Are you surprised? What would you have guessed?

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