Zero price markets in everything

On a recent April evening, 20 fans gathered to hear folk singer Ben Taylor play in his living room in Martha’s Vineyard, Virginia. The relaxed 40-minute set, which had all the production values of an acoustic performance on YouTube, cost $20 to attend. Fans were happy to pay that and then some—they collectively offered Taylor more than $300 more in tips, doling out dollars whenever he played a favorite song. Instead of gathering at a single location, the 20 concert-goers were scattered around the country, watching Taylor perform through their computer monitors.

(Tee_Bird)

Global prices for liquefied natural gas are rising toward record highs this year as increasing demand runs up against stuttering supply, threatening to drive up fuel costs in some of the world’s biggest economies. After a record, unexpected drop in LNG output in 2012, production is expected to grow only marginally this year.

(Studio d’Xavier)

William Ramseyer submits:Random walk theory relates to the idea that no investor can predict stock movements from prior prices. If an investor could make such predictions then he would soon own the world. However, if no investor can make such predictions then why would anyone buy or sell in the markets, since buying and holding would achieve the same result with less transaction costs?

TWO quick additional thoughts on Apple, supply chains, and manufacturing. First, in manufacturing supply chains, cost isn't the only thing that matters; time does too. Here's the abstract from a new NBER working paper:

IN UNSURPRISING but good news, Case-Shiller reported new home price data this morning that showed a definitive upward move in markets across the country.