Monday evening links

1. Chart of the Day. The chart above shows the “other shale revolution” taking place in the oil-producing states that we don’t hear too much about – Wyoming, Colorado, Utah, New Mexico and Oklahoma – where the combined oil production has doubled in the last three years to almost 1.5 million barrels per day in March, according to EIA data released last week. Some highlights of the new EIA state oil output report include: a) new all-time record highs in March for oil output in both Colorado and New Mexico, b) a 27-year high in March for Oklahoma’s oil production, c) a 31-year high in March for Utah, and d) the highest output in Wyoming in nearly 22 years in March. Carpe oleum

2. Markets in Everything: a) Airbnb for heavy equipment rental and b) “HyreCar” lets individuals rent out their personal cars to anyone who wants to work as a driver for Uber, Lyft.

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3. Venn Diagram of the Day (above). To disturb/intervene or not to disturb/intervene? (Ht/Morgan Frank)

4. Economic Facts of the Day: a) Airbnb approaches one million guests per night milestone and b) Since 2000, the number of Internet users worldwide has increased four-fold to 3.2 billion in 2015.

5. Crony Crapitalist of the Year Award: Elon Musk’s growing empire is fueled by nearly $5 billion in government subsidies stolen taxpayer dollars.

6. Hypocrite of the Year Award: Labor unions, who were among the strongest supporters of LA’s $15 per hour minimum wage approved last week by the Los Angeles City Council, are advocating last-minute changes to the law that could create an exemption for companies with unionized workforces. Reason? Concern for the poor? Nope, the exemption would allow labor officials to pressure companies into letting employees unionize as a way to seek relief from the mandated wage hike.

7. Minimum Wage Economics: a) “Raising minimum wage collides with a basic law of economics: the higher the cost of something the lower the demand,” says Steve Chapman and b) “In Seattle, small businesses are reporting what anyone with an understanding of markets would expect [following a minimum wage hike]: layoffs, closures and price hikes,” says Chantal Lovell. It’s not that hard to understand, is it? See video below for a tutorial on the economics of the minimum wage.

8. Drug War Updates: a) Jury Sends Message to Cops, Go Find REAL CRIMINALS, Acquits Nevada Medical Marijuana Patient in One Hour on Felony Charges for Growing Weeds to Treat Medical Condition , b) Drug War Police State Hits New Low: Sheriff’s Office Claims Infant (“Baby Bou-Bou”) Was at Fault for Georgia SWAT Team Blowing His Face Apart with Grenade, and c) Thanks in Part to the Drug War, US Police Have Used Deadly Force Against 477 Americans So Far This Year (more than 3 every day on average).

9. Why the American Dream is Unraveling in Four Charts. From Market Watch, see one of the four charts above showing how children of poorer, less educated parents with a high school diploma or less are about six times more likely to grow up in single-parent homes than children of better educated parents with a bachelor’s college degree or higher (about 65% vs. < 10%). (Ht/Morgan Frank)

10. Video of the Day. McDonald’s and the Minimum Wage. ‘The minimum wage law is not an employment law that says that everybody will be employed and they will be paid the minimum wage or higher, rather it is an unemployment law that says you cannot work unless your productivity is above X amount. These laws hurt the poor and unskilled more than anyone else.”

from AEI » Latest Content http://ift.tt/1FQL9g3