Tuesday, March 19, 2019, T+76, Part 1

Frack sand: the story everyone got wrong. See RBN Energy at this post. Everyone got this story wrong. Even RBN Energy, I think, talked about the risk of a frack sand shortage but I don't remember. I fell for the story, hook, line, and sinker -- fortunately never invested in any frack sand company as far as I can recall. If I did, it was a short-term trade, but I honestly can't remember. I don't think I did. Again, free market capitalism comes through. Can you imagine how "central planning" would have affected frack sand?

Suicide: perhaps the most interesting story, for so many reasons, the article from The Wall Street Journal, yesterday, "Obama economic advisor Alan Krueger dead at 58, suicide." Data points:

• top labor-market expert and former chairman of Council of Economic Advisers, suicide according to family statement
• one of the nation's most influential labor-market experts
• wrote papers on topics including rock 'n' roll concerts, roots of terrorism
• a chief economist at the Labor Department during the Clinton administration
• examined the impact of a state-level minimum-wage increase in New Jersey by comparing fast-food employment there to neighboring Pennsylvania; finding -- the minimum-wage increase did nto reduce employment; challenged a long-held assumption in economics
• first person to teach there is nothing more painful for an unemployed person to do than search for a job
• [I can't recall if I've posted that before but I've argued that the most important thing for a man is work; work defines a man -- and I'm being sexist there -- specifically saying "man" and not "men and women"]
• it is ironic that a man whose center of study and concern was his contention that there is nothing more painful for an unemployed person to do than search for a job and yet this individual worked for a president who seemed oblivious to this, not concerned about putting people out of work
• on the other hand, we now have a president whose main domestic concern is getting people back to work

Disclaimer: this is not an investment site. Do not make any financial or investment decisions based on what you read here or think you may have read here.

Sports: I don't think I've ever watched a more miserable NBA team than the current Dallas Mavericks. I'm not saying there are not worst teams; I'm saying that I've never watched a more miserable NBA team; they are pathetic. Last night's home game again the New Orleans Pelicans -- another loss. On another note, Dirk made four points in last night's loss to the Pelicans but that moved him ahead of Wilt Chamberlain in the NBA all-time scoring record.

The market, futures: up almost 120 points -- these are pre-market --

• WTI: holding its recent gains; remarkable;
• D: down 1%
• Tesla, down 1%; could open below $267/share
  
• XLNX,  up slightly;
• UNP,  --
• AAPL, up slightly;
• RDS-B, --
• CVX, --
• COP, --
• BRK-B, --
• NOG, up slightly in pre-market trading; we don't often see NOG trading pre-market;
• OAS, --
• EOG, --
• EW, -- 
• JAG, down slightly in pre-market trading; we don't often see JAG trading pre-market;

Oilprice: now talking about the "perfect storm" resulting in higher prices for oil.

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Dakota

Dakota, The Shadows