HONOLULU (HawaiiNewsNow) - Any historian will tell you that the plague killed one out of three people in Europe, the rest inherited, and people had all the land and housing and furniture they needed, freeing them to buy the textiles and spices that spurred long distance trade.
We're seeing that today with crude oil prices rising almost to $50 per barrel on a drawdown of stockpiles. Higher fuel prices are bad news for you and your car and your electric bill, but it's good news for oil companies, and the Dow is up more than 100 points today, driving by oil stocks.
Then there's this morning's trade deficit report. Exports rose smartly, but imports rose even more. We always hear this and imagine companies shipping more refrigerators or bringing over more Mazdas. But lately it's mostly been changes in the money changing hands for roughly the same cars and appliances. A strong dollar is good when you buy imported stuff, but bad for tourism.