"Since getting your full service with intra-day updates in the last year, I better understand what goes into just how difficult your job is and how comprehensive your "guys" and you actually are. I continue to use your service for different decision making processes but in the end has been a growing benefit to our business. I've ALSO gotten smarter in how to use your "stuff". *
In 1944, my good friend, the late Nobelist Friedrich Hayek (1899-1992), published the Road to Serfdom. It immediately became an international sensation. In it, Hayek argued that government interventions into markets, whether they be via regulatory mandates or the outright taking of private property, will lead to an initial failure. In short, they will be counterproductive. In an attempt to correct its initial errors, the government then does more of the same, only in greater detail. Further disappointments will lead to still more far-reaching and detailed interventionist measures, until socialism and a state of total tyranny are reached.
As the world’s reserve currency, the dollar can often dictate the direction of commodity prices. When the value of the dollar drops against other currencies, it takes more dollars to purchase commodities than it does when the price is high. Put another way, sellers of commodities get fewer dollars for their product when the dollar is strong and more dollars when the currency is weak. Factors such as weak employment or GDP numbers in the United States can weaken the dollar and lead to higher commodity prices, while strong economic numbers can weaken commodity prices.
“Over 75% of U.S. industries have registered an increase in concentration levels over the last two decades. Firms in industries with the largest increases in product market concentration have realized higher profit margins, positive abnormal stock returns, and more profitable M&A deals, which suggest that market power is becoming an important source of value.”
Gasoline: The main use of this refined crude oil product is as a source of fuel for cars, light-duty trucks and motorcycles. Gasoline prices can have an enormous effect on the overall economy since demand for the commodity is generally inelastic. That is, consumers need to put gasoline in their vehicles to go to work, school and other essential activities. Many traders trade crack spreads, which are the differences between crude oil prices and the price of refined crude products such as gasoline.
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