Author: DailyWestern

Earlier this week, I posed the following problem in price theory. The government imposes a binding price ceiling on oranges. But it does not impose any price ceiling on orange juice. After the price ceiling on oranges is imposed, what will happen to the price of orange juice? (Assume a competitive market for oranges.) Show your work. I said I would post my answer. I also said that I would post a diagram of demand and supply. But the diagram got complicated because there are both demand and supply for oranges and demand and supply for orange juice. And, of…

Neymar’s return to boyhood club Santos hasn’t exactly been the homecoming he, or fans, were dreaming of.While there have been glimpses of his undeniable brilliance, the comeback has been marred by recurring injuries, red cards and a string of poor results. Santos have won just four of their 16 Série A matches this season, and the mood around the club is growing tense.Following their latest setback – a 2-1 defeat to Internacional that kept them anchored in the relegation zone – tensions boiled over. Neymar was seen confronting a fan in the stands in a heated exchange at the final…

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Severe flooding across the Philippines, driven by Tropical Cyclone Emong and the annual monsoon season, has forced more than 53,000 families into evacuation shelters.MANILA, Philippines – The combined impacts from multiple tropical cyclones and the Philippines’ annual monsoon season have triggered widespread flooding, landslides and power outages, impacting millions across the country and resulting in more than two dozen fatalities, according to government officials.The country’s Office of Civil Defense said the recent impacts of Tropical Cyclone Emong, compounded by the monsoon, known locally as Habagat, caused major disruptions to infrastructure and have forced the shutdown of schools.More than 53,000 families…

Rep. Ritchie Torres, D-N.Y., took a swipe at President Donald Trump’s economic management during an interview with CNN’s “State of the Union.” “Since Donald Trump’s inauguration, we have seen an 11% decline in the value of the dollar, the steepest decline in more than a half a century,” Torres said in the July 20 interview. A decline of that size is broadly supported by analysis by Morningstarthe financial services research firm. We asked economists about what this development means for the U.S. and world economies; they said it is a historically unusual situation, and one that prompts some worry. U.S.…

Or at least Long Beach and LA: Figure 1: Inbound loaded TEU’s at Long Beach and LA ports, n.s.a. (black, left scale), year-on-year growth (light blue, right scale). NBER defined peak-to-trough recession dates shaded gray. Source: Ports of Long Beach, LA, NBER and author’s calculations. Inbound traffic is down 3.5% y/y, and down 32.7% q/q AR. This entry was posted on July 25, 2025 by Menzie Kent.

Lionel Messi is furious with the MLS for suspending him as punishment for missing the All-Star Game on Wednesday in a move that could have an “impact long-term”, Inter Miami co-owner Jorge Mas has warned. Eight-time Ballon d’Or winner Messi, who is by far the league’s most high-profile player, is banned alongside team-mate and fellow Barcelona icon Jordi Alba for Miami’s potentially crucial home game against leaders Cincinnati on Saturday in a decision described by MLS Commissioner Don Garber as “very, very difficult”. “Leo Messi is extremely upset,” said Mas, via journalist Guillem Balaguewho is Messi’s biographer. “I’m hopeful it…

Myron Gardner and the Miami Heat have agreed to a two-way contract. Gardner averaged 13.2 points, 4.2 rebounds, 1.8 assists and 2.8 steals in 22.2 minutes across four Summer League games with the Heat. In 50 games in the G League last season with the Osceola Magic, Gardner averaged 10.0 points, 6.3 rebounds and 1.5 assists in 21.2 minutes.

FOX Weather Meteorologist Craig Herrera talks about the chilly weather seen in San Francisco this summer.SAN FRANCISCO – While the majority of the county bakes under a sweltering heat dome, the San Francisco Bay Area is experiencing one of its coldest summers in decades.Temperatures were five degrees below average for June and are currently about four degrees below average for July.With an average high temperature just shy of 68 degrees overall this season, this has been San Francisco’s coolest summer since 1965.The current conditions in the Bay Area are more typical of summer in Anchorage, Alaska, according to the FOX…

“I was born into Japanese the way one is thrown into a sack,” the Japanese German writer Yoko Tawada once wrote. “That is why this language became for me my exterior skin. The German language, on the other hand, I swallowed whole and it has been sitting in my stomach ever since.” If these metaphors at first suggest a linguistic hierarchy, Tawada went on to neatly refute the idea in an interview. Her native language is as intimate and impossible to slough off as her skin; a second language, by contrast, is consciously consumed: chewed, tasted, metabolized. Some foreign words,…