The Sy Hersh effect: killing the messenger, ignoring the message

One Reason This Energy Shock Is Not Like The One 15-Years Ago Arend Kapteyn, the global head of economics and strategy research and chief economist at UBS, told clients that one key reason the current Middle East conflict-driven energy shock "is not like 2011-2014" will be the absence of a comparable response from the shale patch, suggesting consumers are more likely to bear the brunt of the pain.  Kapteyn noted that, on an inflation-adjusted basis, oil prices in 2011-2014 were actually higher than they are today, yet the U.S. economy absorbed that...

Senate Passes DHS Funding Bill To End 40-Day Shutdown, Airport Chaos At 2:22 a.m. EST, the Senate unanimously passed a spending bill to fund the Department of Homeland Security after a 40-day shutdown that disrupted airport security and sparked travel chaos for millions of Americans. The bill, which excludes funding for Immigration and Customs Enforcement and Customs and Border Protection, still needs House approval and President Trump's signature. The overnight breakthrough came as airport TSA lines worsened nationwide this week, with TSA agents calling out sick or quitting due to...