It's not just demand that's sent commodity prices higher...

"Wall Street’s maneuverings in the commodities markets have added many billions to the coffers of investment banks like Goldman, JPMorgan Chase and Morgan Stanley, while forcing consumers to pay more for gasoline, electricity and a wide range of products, from cars to cellphones. In the last year, federal authorities have accused three banks, including JPMorgan, of rigging electricity prices, and on Monday JPMorgan was working to reach a settlement that could cost it $500 million." (New York Times print edition, July 23, 2013, page B1) 

Check out two articles on line:

http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html?pagewanted=all

http://www.nytimes.com/2013/07/23/business/inquiry-possible-into-storage-of-commodities-by-big-banks.html?ref=business

Mexicans: the world's hardest workers

Check out CNN Money's lead article on line this morning:
http://money.cnn.com/gallery/news/economy/2013/07/16/10-hardest-working-countries/index.html?iid=Lead

Mexico

1 of 10

 

•  The four-day work week 

Average annual hours: 2,317

Average annual wages: $9,885

In Mexico, workers average 45 hours a week, the most of any industrialized nation. They work about 519 hours more than the typical American worker each year, only to earn less than a fifth of the pay.

When the OECD ranks industrialized nations by education and work-life balance, Mexico comes out on the bottom in both cases. Only about a third of adults -- ages 25 to 64 -- have earned the equivalent of a high school diploma.

There's also a huge gender gap in the job market. Whereas 78% of men have jobs, only about 43% of adult women work for pay.

Did you ever think of large investors as feral hogs?

Dallas Fed President, Richard Fisher, has. In comments on June 24, he remarked “I do believe that big money does organize itself somewhat like feral hogs. If they detect a weakness or a bad scent, they’ll go after it.”